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Vacancy Rate Plummets Below 3% in September

By Jamil Allouche

Melbourne's vacancy rate decreased in September, which may encourage your decision to buy a residential investment property in Brunswick.

The vacancy rate in Melbourne decreased from 3.7 per cent in August to 2.9 per cent in September. This is the first time it has fallen beneath 3 per cent since May, bringing the rate down below this year's average and encouraging buyers in the area, according to the Real Estate Institute of Victoria (REIV).

This trend was mirrored in regional Victoria, where vacancy rates also decreased during the month.

In Melbourne, reduction in vacant properties was most felt in the inner and middle suburbs.

For those interested in how much rent they can receive for a house in Melbourne, perhaps for a Carlton property, house rent remained stable at $390 weekly. Weekly rent for units decreased from $380 to $375.

Remember, the advice of a professional real estate service never goes astray if you are searching for a property, as they can help you find the area with properties most suitable to your needs. Not only this, they also can shed considerable light on many other aspects of a property purchase. 

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