Rental costs in Victoria
03 May 2015 by News Desk
Rental costs in the commuter belt of Victoria around Melbourne are rising faster than prices in the central business district, according to latest government figures.
The average rent for a three bedroom house in a regional area of the city increased by 17 per cent over the past five years, compared to a 13 per cent rise across Melbourne. Some local government areas in regional Victoria have seen rents jump by up to 40 per cent over the past five years.
Rental costs in Victoria
The biggest increase in rental price was recorded in Ararat, where rents jumped from $170 in 2009 to $240 in 2014. Rents also increased by 30 per cent or more in Strathbogie, Hindmarsh, Loddon, Golden Plains and Mount Alexander. Golden Plains saw the biggest jump in dollar terms, up $80 to $330.
The cheapest regional rental suburb remains Yarriambiack, at $160, while the priciest is the Surf Coast at $395.
Two-bedroom houses in Ararat also topped the list – up 56 per cent over five years from $143 to $240 per week in median rent. Other significant increases included the Northern Grampians, Central Goldfields and Horsham – all up by more than 30 per cent.
The cheapest rental available in Ararat is a one-bedroom, one-bathroom flat at Barkly Street, at $135 per week. The cheapest two-bedroom house is at Baird Street, at $170 per week, while the lowest priced three-bedroom house is at Rundell Street for $180 per week, according to figures from the Department of Human Services.
