Melbourne’s rental market tightens, with some areas in ‘crisis’
- melbournepropertyh
- Mar 7, 2022
- 1 min read
Melbourne tenants searching for a new rental are facing more competition and higher rents, as new figures show vacancy rates have tightened dramatically over the past year.
Across the city, the number of vacant rentals has more than halved, Domain’s Rental Vacancy Rate Report for February 2022 shows, as Melbourne continues to recover from lockdowns and border closures introduced during COVID-19.
Melbourne’s vacancy rate was 2.1 per cent last month, down from the 4.4 per cent recorded at the same time in 2021. It was also slightly down on January’s figures, where the rate was 2.4 per cent.
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