Melbourne vacancies still tight
The vacancy rate in Melbourne’s outer suburbs has increased - but the market is still tight with only 1.8% of rental homes vacant.
The Real Estate Instittue of Victoria says the vacancy rate in the outer suburbs has risen from 0.7% to 1.8% over the past six months.
But the vacancy rate across Melbourne is still low at 1.3% for April, down from 1.4% in both February and March. The outer suburbs comprise the only sector with a vacancy rate above 1.3%, according to the REIV figures.
The institute says the vacancy rate across Melbourne has been quite consistent, sitting between 1% and1.4% for the past 12 months.
March Quarter median prices showed that most of the activity in the Melbourne market has been in the outer suburbs, including Craigieburn, Melton South, Hillside, Epping, Caroline Springs, Werribee and Meadow Heights.
