This three-bedroom house at 3 Leighton Green, Derrimut can be leased for $530 a week.
Melbourne tenants are fleeing the rental market in droves and purchasing their first homes as the city records the biggest annual rise in its vacancy rate compared to all capital cities.
PropTrack research revealed the city’s available rentals homes have increased for seven consecutive months — rising by 0.33 percentage points in the 12 months to September to reach 1.67 per cent.
Melbourne also has the second-highest vacancy rate of all markets behind Canberra’s 1.74 per cent.
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Australian Bureau of Statistics lending data showed in the year to August, more than 37,500 Victorians signed a loan for their first home — 24.6 per cent of the entire number of loans across the …