First homebuyers improve rental vacancy rates
Posted on | May 16, 2009 |
Melbourne’s outer suburb vacancy rates have improved from 0.7 per cent to 1.8 per cent in the past six months, according to the Real Estate Institute of Victoria’s April vacancy rates.
The vacancy rate across Melbourne is reasonably steady having been between one and 1.4 per cent for 12 months. However it‘s significant that there’s a recorded improvement in the outer suburbs.
The improvement may be due to the number of first homebuyers that are moving from rented accommodation to their own home with the assistance of the grants, bonus and boosts.
The March quarter median prices showed that most of the activity in the marketplace has been in the outer suburbs; for instance Craigieburn, Melton South, Hillside, Epping, Caroline Springs, Werribee and Meadow Heights – all outer suburbs of Melbourne popular with first homebuyers.
It‘s great news for renters if a by-product of the grants, bonus and boosts is an improvement in the availability of rental accommodation, however monitoring the situation over the next few months to see if it continues to improve.
We would consider that the rental market would be in balance once we reach a Melbourne-wide vacancy rate of three per cent.
In the last month the figures from our REIV members have shown a very minor change in the inner suburbs where the vacancy rate moved from 1.5 to 1.3 per cent and in the middle suburbs where it moved from 1.4 to 1.3 per cent.
Tags: buyers > first > home > improve > Melbourne > outer > rates > rental > suburbs > vacancy > victoria
Comments
2 Responses to “First homebuyers improve rental vacancy rates”
Leave a Reply
July 21st, 2010 @ 8:39 am
Buy:Cozaar.Zocor.Female Cialis.Acomplia.Female Pink Viagra.Ventolin.Benicar.Amoxicillin.Lasix.Prozac.Nymphomax.Aricept.Seroquel.Advair.Lipitor.Zetia.SleepWell.Lipothin.Wellbutrin SR.Buspar….
September 6th, 2010 @ 7:17 am
Buy:Lipitor.Female Pink Viagra.Prozac.Cozaar.Ventolin.Amoxicillin.Lasix.Benicar.Female Cialis.Seroquel.Zetia.SleepWell.Aricept.Acomplia.Lipothin.Wellbutrin SR.Nymphomax.Zocor.Advair.Buspar….