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Renting in Ballarat gets even harder as vacancy rate plummets

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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