Melbourne rent crisis: More rentals available for second straight month as vacancy rate lifts [Video]

Victoria’s rental vacancy rate has increased for two consecutive months.

Victoria’s rental vacancy rate has risen for two consecutive months, with experts suggesting there could be reprieve in sight for struggling tenants.

PropTrack research showed the state’s vacancy rate was 1.22 per cent in April, improving by 0.07 percentage points from March.

Latest Census data indicates there were 624,671 Victorian homes in the private rental market in 2021.

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Contrasted to PropTrack’s findings, it shows just 7621 properties would have been available to tenants in April who had several hundred more homes to choose from compared to March.

However, PropTrack senior economist Anne Flaherty said the state’s vacancy remained lower than what it was in January and below what it should be in a healthy rental market.

“While we are seeing conditions ease slightly, …

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