13th September 2014
RENTAL MARKET UPDATE The vacancy rate in Melbourne remained stable at 2.8 per cent for the fourth consecutive month in June 2014 with all sub-regions remaining stable. The vacancy rate is lower than the 3.1 per cent recorded in June 2013. Median house rents in Melbourne increased in June but fell for units. The vacancy rate in the inner suburbs remained stable at 2.9 per cent for the third consecutive month although there were fewer vacant properties in the CBD and central (0-4km) region. Compared to the previous year, the vacancy rate has tightened from 3.1 per cent.
Yarraville
104 Somerville Road 9316 9000
Williamstown 1/66 Douglas Parade (Corner Stevedore Street) 9393 1600 www.jasstephens.com.au
The vacancy rate in the middle suburbs remained stable at 2.9 per cent in June 2014 but has tightened since a year ago when the vacancy rate was 3.4 per cent. The outer suburbs continue to have the tightest vacancy rate of all the regions at two per cent in June 2014, stable from the previous month. There was, however, an increase in vacancy in the Mornington Peninsula in June 2014. The vacancy rate remains lower than 12 months ago when the vacancy rate was 2.5 per cent. The vacancy rate in regional Victoria remained stable for the third consecutive month at 2.5 per cent in June 2014. It has tightened considerably from 3.5 per cent a year ago. The vacancy rate in Geelong remained stable at 4.3 per cent, fellin Bendigo to 2.3 per cent, and increased in Ballarat to 2.5 per cent. The median rent for houses increased in Melbourne but it fell for units in June 2014. The median rent for houses increased by 2.5 per cent to $400 per week while it fell by 1.8 per cent to $381 per week for units. Median rents for both houses and units decreased over the month in regional Victoria. Information courtesy of the REIV. Craig J. Stephens Managing Director / Officer in Effective Control M 0418 547 938
Jas H Stephens Pty Ltd (Jas Stephens) is bound by and adheres to the Australian Privacy Principals (“Principals”) contained in the Privacy Act 1988. Those Principals regulate most of our activities with respect to personal information collected, stored, used and disclosed by is. Our full privacy policy can be found at www.jasstephens.com.au. The purpose for which we may collect, hold, use and disclose your personal information are:-for security reasons- to keep a record of who has attended open inspections; to contact you in respect of the property and other properties we believe may be of interest to you; to provide you with a contract of sale and other documents you may request; to update you generally through the course of the campaign. We may also use your personal information to market other properties which we think may be of interest to you and to send you marketing material from our agency. You can always “opt out” if you do not wish to receive marketing material. By providing your personal information you consent to us using your personal information as described above. If you choose not to give us your information, we may not be able to provide an effective service to you. Your personal information is stored in a combination of computer facilities and paper based files and other records, which are located on site at our office and off site at secured premises. If you would like to discuss how we manage your personal information or complain if you think we have breached the Principals or to update/correct the information we are holding please call 9316-9000 or email privacyofficer@jasstephens.com.au We have obtained all information in this document from sources we believe to be reliable, however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations. We strongly recommend that you clearly register your interest with our representative at the open for inspection, so that in the event of a sale being imminent, your position is protected. We make every effort to contact all interested parties prior to a property being sold.
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