The REA Group has predicted that rental increases in Ballarat this year won’t be as high as last year.
Rents for ‘all dwellings’ rose by 4.9% last year with a median weekly cost of $430.
REA Group Senior Economist Paul Ryan says he expects a better deal for renters in 2025.
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“Broadly speaking we are expecting rents to increase less in 2025.”
“We are getting back to this point now where in Ballarat rents increased 4.9%, if rent growth is slower this year it’ll be more in line with what people’s incomes are increasing by,” Mr. Ryan said.
Compared to Ballarat the median rent in regional Victoria as a whole was $460 in December, up 2.2% over the quarter and 4.5% over the past year.
