Ballarat rental market continues to tighten
Rental vacancies in Ballarat have continued to decline, creating an extremely tough market for prospective tenants.
Ballarat Property Group have said that of the 1,5000 rental properties that they manage, only 25 are available. And this has been the case for the past six months.
Demand remained strong during this time, with no more than 40 properties available at any one time.
Ballarat Real Estate general manager, Allister Morrison also said his agency recorded rental vacancy rates of 1% in August 2018, compared with 2.3% the same time last year.
The scarcity of rental properties is due to the rise in both out-of-area investors and the influx of people moving to Ballarat who are choosing to buy and live in available properties.
There is also a trend of long-term renting in Ballarat, which reduces the number of available rental properties and increases rental prices.
This is great news for people looking to invest in Florian. Purchasing your land now puts you in a good position to capitalise on the long-term growth in demand for rental properties in Ballarat. Or to secure your own home as the number of available rentals diminishes.
Register now for Florian’s upcoming land releases.
This article was originally published in the Ballarat Courier.