THERE has been some good news for renters, with the vacancy rate in Warrnambool listed as one of the best in the state.
The city had a rental vacancy rate of just above four per cent in December.
The rate has risen steadily from September, which was 1.7 per cent, October (2.1 per cent) and November (3.5 per cent).
Ludeman Real Estate director Mark Dwyer said the number of renters in Warrnambool was expected to increase, with students moving to the city as the university year begins.
“There’s already more people coming through the door and with uni starting up that will only increase,” he said.
“Gone are the days when it was below one per cent.
“Three or four per cent is what you would expect.”
Mr Dwyer said the rate was good news for renters, with more choices.
“It does give people a few more options to rent,” he said.
“Some properties are easier to rent then others.”
Geelong and Ballarat both had a rental vacancy rate of three per cent for December and Shepparton was four per cent.
Bendigo and Wodonga both recorded tight rental markets with 0.8 per cent vacancy rate for the same period.
The availability of rental homes in Melbourne for December was 2.6 per cent.
In Melbourne the highest level of vacancies was in the middle suburbs, where a rate of 2.9 per cent was recorded.
The median rent for a house in Melbourne increased incrementally from $380 per week in November to $381 in December. In regional Victoria it was stable at $300.