Local News

Renting in Ballarat gets even harder as vacancy rate plummets


No reprieve for Ballarat renters looks likely with the city’s residential vacancy rate dropping to its lowest point in 12 months.

The rate now sits at 1.4% ,well below a balanced market which is said to be 3%.
Phillip Lee, Director of Ray White Ballarat says they’ve had 468 applications for properties at their office alone in the last 30 days.
"At times we've only got 3 or 4 vacant rental properties to let, if that."
"It's very tough, a lot of people are missing out and they're anxious and I get that, but unless there's an increase in housing stock its going to continue," Mr Lee said.

Image by Schluesseldienst from Pixabay