Following last month’s great data and figures, springtime has brought even more good news for Geelong’s rental market.
The region’s vacancy rate has dropped again and is now at 2.1%.
And while this is great, we really do feel for those in Melbourne where the inner-Melbourne vacancy rate is 4.5% and the overall metro rate is 3.7%. These figures are scary for Melbourne investors so it really does show how well Geelong is performing by comparison.
In terms of rental prices, everything appears steady. 2 bedroom units remain at the 6-month median average of $330 per week, while 2 bedroom houses remain at a new high of $335 per week. 3 bedroom houses are also steady and they too are remaining at their median high of $385 per week.
With regional COVID restrictions now eased, we are seeing more people out and about, and, while our real estate work practices are still restricted, everything is business as usual. In fact, our leasing times have almost been completely unaffected by the pandemic so if you have a property to lease, please let us know. With our experienced team and our 3D tour technology, we can certainly help all investors regardless of the current climate, so please feel free to contact the team on 5277 2727. Or you can get in contact via our Facebook page.
Our page can be found at https://www.facebook.com/GeelongPM