Media Release
The Real Estate Institute of Victoria Ltd
Telephone (03) 9205 6666
ABN 81 004 210 897
Thursday, 17 December, 2009
REIV releases November rental vacancy data for Victoria
The REIV’s November rental vacancy report shows that for the fourth month in a row there are fewer
available rental homes in regional Victoria than in metropolitan Melbourne.
REIV CEO Enzo Raimondo said that the rental vacancy rate in regional Victoria was 0.8 per cent,
down from one per cent in October; and 1.5 per cent in Melbourne, up from 1.4 per cent in October.
“There are very few places in Victoria where vacant rental homes are easy to find and there is no sign
of that changing.
“The most significant improvement was recorded in the suburbs between four and 10 km from the
CBD where the vacancy rate improved from 1.2 to 1.8 per cent. Minor improvements were also
recorded in the outer suburbs – those more than 20 km from the CBD where the vacancy rate
increased from 0.6 to 0.9 per cent.
“There was little improvement in Geelong, where the vacancy rate rose from 1.3 to 1.5 per cent; a very
minor improvement in Bendigo, which recorded an increase from 0.1 to 0.2 per cent; and a contraction
in Ballarat from 1.1 to 0.8 per cent.
“The REIV considers a vacancy rate of three per cent optimal – and the last time that was the case in
Melbourne was nearly five years ago. In regional Victoria the vacancy rate was three per cent in April
this year.
“As a result of the very low vacancy rate in Melbourne, rents have risen more rapidly than CPI over the
last five years and this will continue to the be the case until more homes are constructed where people
want to live,” Mr Raimondo concluded.
Nov
Oct
Sep
Nov
2009
2009
2009
2008
MELBOURNE Inner (0-4km)
1.0
1.4
1.2
1.1
Inner (4-10km)
1.8
1.2
1.0
1.3
Inner Total
1.5
1.3
1.1
1.3
Middle
1.7
1.9
1.7
1.1
Outer
0.9
0.6
1.2
0.7
MELBOURNE TOTAL
1.5
1.4
1.3
1.1
GEELONG REGION & BARWON
1.5
1.3
0.9
1.7
BENDIGO & LODDON
0.2
0.1
0.2
1.2
BALLARAT & CNTRL HIGHLDS
0.7
1.1
1.5
1.7
REGIONAL VICTORIA TOTAL
0.8
1.0
1.0
2.0
VICTORIA TOTAL
1.3
1.3
1.2
1.3
MEDIA COMMENT:
Robert Larocca, 9205 6622 or 0409 198 350
NEWS 
