South Victorian rental market struggles to match demand

By |

By Robert Carry

South-west Victoria is witnessing an unprecedented decline in available rental properties as supply struggles to keep pace with area's rapidly increasing population.

According to reports in The Standard, the number of vacant homes plunged by more than 50% in the past 12 months thanks in part to a rapidly growing population and a flood of workers employed at major projects like the Mortlake gas-fired power station.

According to City property manager Tim McNally, Warrnambool's rental market was becoming extremely tight. "A healthy rental market operates on a vacancy rate of about 3%. That means you have good supply and good demand. But for the past three years Warrnambool has been operating on a vacancy rate of 1%."

However, other areas around south Victoria are also struggling with Port Fairy, Mortlake and coastal areas east of the city also hit by sky-rocketing rental demand.

Do you have more than $200k in your super fund? You could use your super to buy property - Find out how

Top Suburbs : goulburn , hebersham , willliamstown , midland , woolloongabba

go back

Get help with your investment property

Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here