This month’s data brings a big Happy New Year to Geelong’s rental market with a continued downward trend on the vacancy rate.
It’s fallen another .1 of a percent to 1.3% and that’s amazing given that only 12 months ago, it was steady at 2.2%.
Also, just like other months, Melbourne’s vacancy rate continues to grow – the Inner Melbourne rate is now a whopping 7.1% with the Melbourne total rate also higher again at 5.4%. These Melbourne numbers are very concerning, so it’s really good to be in the Geelong market at the present time.
The median weekly rental data in Geelong is similar to last month with 2 bedroom units having a median rent of $330 per week. 2 bedroom houses are unchanged with a median of rent of $330 per week and 3 bedroom houses are also unchanged at $380 per week.
If you’ve been following us on social media, you’ve probably seen how busy we’ve been over Christmas; we were delighted to be able to match tenants to properties over the holidays and we’re not slowing down because Geelong’s rental market is booming! We’re even letting properties to great tenants off-market so if we can help you with finding a tenant, or even if you just need some rental advice, please call us any time on 5277 2727. Or you can like our Facebook page too for updates and info like this.
Our page can be found at https://www.facebook.com/GeelongPM