jas stephens magazine 23 february 2013
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Jas Stephens Magazine 23 February 2013TRANSCRIPT
23 February 2013
Latest Real Estate Institute of Victoria (REIV) data indicates that the availability of rental homes across Melbourne continues to improve. A vacancy rate of 2.3% was recorded in Melbourne and 2.6% in Regional Victoria over the month of December 2012.
Within Melbourne the highest level of vacancies was in the middle suburbs (those suburbs located 10-20kims from the CBD) where a rate of 2.9% was recorded. This is well above the 2.3% in November and 1.2% a year ago. The inner suburbs and those along the Mornington Peninsula recorded a vacancy rate of 2.5% whilst outer suburbs recorded a contraction to 1.3%.
The REIV suggests that improved level of vacancies has not yet translated into lower rents; however if the trend continues, as it is expected to, it will in time result in overall rents either stabilising or reducing in nominal terms. In regional Victoria the level of vacancies remained comparatively high in most regional centres. A vacancy rate of 3% was recorded in both Geelong and Ballarat. In Shepparton and Warrnambool the rate was just above 4%. The two exceptions to this were Bendigo and Wodonga where the vacancy rate was 0.8%.
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.
Craig J. Stephens Managing Director / Officer in Effective Control M 0418 547 938
RENTAL MARKET WRAP MEET THE TEAM
MAREE CECCHIN Sales Trust Administrator
Phone 9316 9025
Email [email protected]
ANNA GRECHSenior Sales Consultant
Mobile 0438 446 051
Email [email protected]
ASTRID JANESales Consultant
Mobile 0402 211 660
Email [email protected]
REECE GOSSTRAYProject Sales Manager – Banbury Village
Mobile 0418 378 276
Email [email protected]
ALAN STEPHENSChairman
Mobile 0411 242 638
Email [email protected]
NICOLE GRECH Marketing Manager
Mobile 0423 590 508
Email [email protected]
LACHLAN McCRAWBusiness Development Manager (Property Management) - City of Maribyrnong
Mobile 0400 335 498
Email [email protected]
RACHEL WHITEBusiness Development Manager (Property Management) - City of Hobsons Bay
Mobile 0431 597 601
Email [email protected]
MAX WALLERDirector Provincial Home Loans
Mobile 0438 430 436
Email [email protected]
MARK HUTCHESON Sales Consultant
Mobile 0448 820 445
Email [email protected]
Yarraville 104 Somerville Road 9316 9000
Williamstown 1/66 Douglas Parade (Corner Stevedore Street) 9393 1600
www.jasstephens.com.au
As a service to our vendors, we will require names & phone numbers on entry of all inspections.
Privacy Act 2000: We use personal information collected from you during open for inspections for security purposes. We may also use that information to contact you with respect to this property and others we believe may be of interest to you. Also, we may contact you in relation to other services provided by us or our associates such as insurance, mortgages and loans. By providing your information to us you agree to our use of it as described above unless you advise us differently. If the information is not provided we may not be able to provide an effective and comprehensive service to you. (Your personal information will be collected and held in accordance with provisions of the Information Privacy Act 2000).
We have obtained all information in this document from sources we believe to be reliable, however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations.
We strongly recommend that you clearly register your interest with our representative at the open for inspection, so that in the event of a sale being imminent, your position is protected. We make every effort to contact all interested parties prior to a property being sold.
Latest Real Estate Institute of Victoria (REIV) data indicates that the availability of rental homes across Melbourne continues to improve. A vacancy rate of 2.3% was recorded in Melbourne and 2.6% in Regional Victoria over the month of December 2012.
Within Melbourne the highest level of vacancies was in the middle suburbs (those suburbs located 10-20kims from the CBD) where a rate of 2.9% was recorded. This is well above the 2.3% in November and 1.2% a year ago. The inner suburbs and those along the Mornington Peninsula recorded a vacancy rate of 2.5% whilst outer suburbs recorded a contraction to 1.3%.
The REIV suggests that improved level of vacancies has not yet translated into lower rents; however if the trend continues, as it is expected to, it will in time result in overall rents either stabilising or reducing in nominal terms. In regional Victoria the level of vacancies remained comparatively high in most regional centres. A vacancy rate of 3% was recorded in both Geelong and Ballarat. In Shepparton and Warrnambool the rate was just above 4%. The two exceptions to this were Bendigo and Wodonga where the vacancy rate was 0.8%.
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.
Craig J. Stephens Managing Director / Officer in Effective Control M 0418 547 938
RENTAL MARKET WRAP MEET THE TEAM
MAREE CECCHIN Sales Trust Administrator
Phone 9316 9025
Email [email protected]
ANNA GRECHSenior Sales Consultant
Mobile 0438 446 051
Email [email protected]
ASTRID JANESales Consultant
Mobile 0402 211 660
Email [email protected]
REECE GOSSTRAYProject Sales Manager – Banbury Village
Mobile 0418 378 276
Email [email protected]
ALAN STEPHENSChairman
Mobile 0411 242 638
Email [email protected]
NICOLE GRECH Marketing Manager
Mobile 0423 590 508
Email [email protected]
LACHLAN McCRAWBusiness Development Manager (Property Management) - City of Maribyrnong
Mobile 0400 335 498
Email [email protected]
RACHEL WHITEBusiness Development Manager (Property Management) - City of Hobsons Bay
Mobile 0431 597 601
Email [email protected]
MAX WALLERDirector Provincial Home Loans
Mobile 0438 430 436
Email [email protected]
MARK HUTCHESON Sales Consultant
Mobile 0448 820 445
Email [email protected]
Yarraville 104 Somerville Road 9316 9000
Williamstown 1/66 Douglas Parade (Corner Stevedore Street) 9393 1600
www.jasstephens.com.au
As a service to our vendors, we will require names & phone numbers on entry of all inspections.
Privacy Act 2000: We use personal information collected from you during open for inspections for security purposes. We may also use that information to contact you with respect to this property and others we believe may be of interest to you. Also, we may contact you in relation to other services provided by us or our associates such as insurance, mortgages and loans. By providing your information to us you agree to our use of it as described above unless you advise us differently. If the information is not provided we may not be able to provide an effective and comprehensive service to you. (Your personal information will be collected and held in accordance with provisions of the Information Privacy Act 2000).
We have obtained all information in this document from sources we believe to be reliable, however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations.
We strongly recommend that you clearly register your interest with our representative at the open for inspection, so that in the event of a sale being imminent, your position is protected. We make every effort to contact all interested parties prior to a property being sold.
23 February 2013