The latest data from the Real Estate Institute of Victoria (REIV) reveals that people renting a home in Regional Victoria can save up to $110 a week by moving to a neighbouring town.<\/p>\n
At a time when the cost of living is biting many families and we are all looking at ways to save a dollar, renting in a \u201cbridesmaid town\u201d could be a viable option to improve your bottom line.<\/p>\n
For example, the median weekly house rent in Lara is $390, while you can rent a home for $110 less in adjacent Corio for $280.<\/p>\n
The REIV\u2019s data shows that you don\u2019t need to compromise what you love about living in a particular area, be it proximity to the city, convenient transport options, access to amenities including shopping centres and strips, parks and health care facilities to stay within your weekly budget.<\/p>\n
REIV rental data for the 12 months to September 2018 shows that people renting in Gisborne, where the median rent is $450, can save $85 a week by moving to nearby Sunbury. Those renting in Alfredton, where the weekly median house rent is $365, could save $83 by moving to nearby Wendouree where the median house rent is $283.<\/p>\n
Other adjacent towns that have large disparities in their median rents include Delacombe ($350) and Redan ($270); Kialla ($360) and Shepparton ($280); Lake Gardens ($360) and Wendouree ($283); Alfredton ($365) and Newington ($298); East Geelong ($395) and Newcomb ($330); Stratford ($320) and Maffra ($260); Soldiers Hill ($340) and Ballarat East ($290) and Irymple ($330) and Red Cliffs ($290).<\/p>\n
Find out the median rent in your town and neighbouring towns on the Market Insight section of the REIV website.<\/p>\n","protected":false},"excerpt":{"rendered":"
The latest data from the Real Estate Institute of Victoria (REIV) reveals that people renting a home in Regional Victoria can save up to $110 a week by moving to a neighbouring town. At a time when the cost of living is biting many families and we are all looking at ways to save a […]<\/p>\n