	{"id":32160,"date":"2020-05-14T07:55:30","date_gmt":"2020-05-13T21:55:30","guid":{"rendered":"https:\/\/timesnewsgroup.com.au\/bellarinetimes\/news\/from-the-reiv-ceo-rental-prices-fall\/"},"modified":"2020-05-14T09:19:50","modified_gmt":"2020-05-13T23:19:50","slug":"from-the-reiv-ceo-rental-prices-fall","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/bellarinetimes\/real-estate\/from-the-reiv-ceo-rental-prices-fall\/","title":{"rendered":"From the REIV CEO: Rental prices fall"},"content":{"rendered":"<h3>Rental prices have fallen in metropolitan Melbourne following a month of some improvement in vacancy rates across the state.<\/h3>\n<p>The monthly rental data from the REIV shows median rents for houses are now more affordable at $470 per week, down from February\u2019s $480 per week, but still higher than the same time last year.<br \/>\nMetropolitan units are also now cheaper to rent, from $450 per week in February down to $430 per week.<br \/>\nThe Regional Victorian vacancy rate climbed from 1.8 per cent to 1.9 per cent over the month, however median house rents remain unchanged on $350 per week, with units rising to $295 per week.<br \/>\nIn Geelong, house rental prices shrunk by $10 to $400 per week, the Ballarat region remained steady on $340 per week, while house rents increased in the Bendigo region by $7 to sit at $350 per week.<br \/>\nAlthough there has been some improvement in vacancy rates with metropolitan Melbourne recording 2.3 per cent for two consecutive months, Victoria needs vacancy rates of 3-4 per cent to maintain a healthy market.<br \/>\nThe numbers released today reflect the strong market in the lead up to the state of emergency, and are consistent with our March quarter median prices.<br \/>\nThe temporary measures in place due to COVID-19 make it challenging to gauge the real situation but the underlying strength of the Victorian property market is undeniable.<br \/>\nVictoria\u2019s rental accommodation supply is growing, more and rental homes are now available, but there remains a huge need for more properties to be listed to cater for growing demand.<br \/>\nLower vacancy rates mean that families are finding it more tougher and tougher to put a roof over their heads.<br \/>\nI urge owners of investment homes to lease out their properties, they will get a great rental retrurn, and homes are being leased out rapidly, with no hassle.<br \/>\nThe state government still needs to work more closlely with property owners, toand help encourage them to rent themir investment homes out and to help ease the statewide housing shortage.<br \/>\nAs always, if a buyer or a seller is looking for objective information on the market or an agency, they should head to <a href=\"http:\/\/reiv.com.au\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">reiv.com.au<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rental prices have fallen in metropolitan Melbourne following a month of some improvement in vacancy rates across the state. The monthly rental data from the REIV shows median rents for houses are now more affordable at $470 per week, down from February\u2019s $480 per week, but still higher than the same time last year. Metropolitan [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/timesnewsgroup.com.au\/bellarinetimes\/real-estate\/from-the-reiv-ceo-rental-prices-fall\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":54,"featured_media":32161,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[19],"tags":[],"post_folder":[],"class_list":["post-32160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>From the REIV CEO: Rental prices fall - Bellarine Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timesnewsgroup.com.au\/bellarinetimes\/real-estate\/from-the-reiv-ceo-rental-prices-fall\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"From the REIV CEO: Rental prices fall - Bellarine Times\" \/>\n<meta property=\"og:description\" content=\"Rental prices have fallen in metropolitan Melbourne following a month of some improvement in vacancy rates across the state. The monthly rental data from the REIV shows median rents for houses are now more affordable at $470 per week, down from February\u2019s $480 per week, but still higher than the same time last year. Metropolitan [...]Read More...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/timesnewsgroup.com.au\/bellarinetimes\/real-estate\/from-the-reiv-ceo-rental-prices-fall\/\" \/>\n<meta property=\"og:site_name\" content=\"Bellarine Times\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-13T21:55:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-13T23:19:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.timesnewsgroup.com.au\/prod\/uploads\/sites\/3\/2020\/05\/Geelong-panorama-scaled-e1589406892433.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"259\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gil King\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Gil King\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/bellarinetimes\\\/real-estate\\\/from-the-reiv-ceo-rental-prices-fall\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/bellarinetimes\\\/real-estate\\\/from-the-reiv-ceo-rental-prices-fall\\\/\"},\"author\":{\"name\":\"Gil King\",\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/bellarinetimes\\\/#\\\/schema\\\/person\\\/f2b14a4fe8263e488c2ba3c9a669fe17\"},\"headline\":\"From the REIV CEO: Rental prices fall\",\"datePublished\":\"2020-05-13T21:55:30+00:00\",\"dateModified\":\"2020-05-13T23:19:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/bellarinetimes\\\/real-estate\\\/from-the-reiv-ceo-rental-prices-fall\\\/\"},\"wordCount\":359,\"publisher\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/bellarinetimes\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/bellarinetimes\\\/real-estate\\\/from-the-reiv-ceo-rental-prices-fall\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/static.timesnewsgroup.com.au\\\/prod\\\/uploads\\\/sites\\\/3\\\/2020\\\/05\\\/Geelong-panorama-scaled-e1589406892433.jpg\",\"articleSection\":[\"Real Estate\"],\"inLanguage\":\"en-AU\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/bellarinetimes\\\/real-estate\\\/from-the-reiv-ceo-rental-prices-fall\\\/\",\"url\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/bellarinetimes\\\/real-estate\\\/from-the-reiv-ceo-rental-prices-fall\\\/\",\"name\":\"From the REIV CEO: Rental prices fall - 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