WHILE rents have remained relatively stable across the state, popular property types have experienced solid rental growth in the year to June 30.
The latest REIV data shows two-bedroom units recorded the state’s highest weekly rental increase, up 4.2 per cent over the year to $250– a $10 weekly increase on the same period last year.
The City of Ballarat was the main driver of this growth with rents in the municipality also increasing by more than four per cent on June 2016 figures. Wendouree was one of the top performing for investors of this property type with the weekly median rent increasing 15 per cent over the year to $230.
Rental growth for two-bedroom units was also seen in Lake Wendouree and Ballarat Central, up 9.6 and 8.3 per cent respectively to weekly median rents of $285 and $260. Two-bedroom units were also in demand in a number of Bendigo suburbs, including Kennington and Eaglehawk where the median rent increased by more than 13 per cent to $250 a week. Other Bendigo suburbs recording solid rental growth for two-bedroom units include Strathdale, up 11 per cent over the year to $250; and Golden Square, up 5.6 per cent to $235.
Meanwhile, the statewide median rent for three-bedroom homes increased 3.4 per cent over the year to $300 per week. East Geelong recorded one of the largest weekly rental increases for three-bedroom homes, up more than 15 per cent over the year to $370.
Similar rental growth was also recorded in Bright, where the weekly median rent for a three-bedroom home is now $350. Typical family homes were also highly sought after in White Hills and Yarrawonga, with the weekly median rent in these areas increasing 11.8 and 10 per cent respectively. The weekly median rent in Yarrawonga is now $330 while a three-bedroom home in the Bendigo suburb of White Hills commands a median rent of $308 a week.
Annual rental growth for three-bedroom homes was also recorded in multiple Greater Geelong suburbs including Newtown, up 9.9 per cent to a weekly median rent of $415; Geelong West, up 8.1 per cent to a median rent of $400 per week; and Belmont, up 6.1 per cent to a weekly median rent of $350.
For more information on weekly median rents by town or region, visit reiv.com.au.
Rentals on the rise
Country Life
Your true country lifestyle awaits with this cute weatherboard home set on approximately one acre of land. In the quiet hamlet of Pyalong with renowned local primary school, country pub and much more all at your finger tips and only a short drive to Kilmore for shops, eateries and rail link to Melbourne. The home features three bedrooms, central bathroom, functional kitchen and meals area and a comfortable lounge and adjoining dining room. Make the move and enjoy your country lifestyle.
Pyalong 16 Bridge Street
Contact: Brendan Flynn 0481 283 637
Sale Method: Auction
Barry Plant Real Estate Wallan/Kilmore
Seymour is showing off
Seniors celebrate
HAVING a cuppa with the Mayor or delving into the world of online shopping are just some of the diverse activities on offer, in addition to the Annual Seniors Concert featuring Honey B and the Stingers.
All council events, including an active aqua gentle exercise classes, senior strength classes and an introduction to online shopping course, are outlined in the Mitchell Shire Seniors Festival Program.
Council’s leisure centres are also getting in on the action, with free membership offers for new and existing members (conditions apply).
A Senior Fun Day, including bowls and a free barbecue, will also be held from 11am-2pm on Friday, October 20 at Kingsgate Village in Kilmore. Mitchell Shire Mayor Rhonda Sanderson said the festival was an important way to promote active and healthy living.
“Our seniors are so important to us and promoting a healthy, active and age friendly community is a priority for council. The Seniors Festival activities are a great way for our older residents to get out and about, socialise, keep their minds active, and participate in their community. It’s great to see so many community groups getting on board with the Victorian Seniors Festival and council would like to thank them for hosting these important events for our seniors.” Cr Sanderson said.
Copies of the Mitchell Shire Seniors Festival Program can be downloaded from www.mitchellshire.vic.gov.au or hard copies can be collected from Council’s Customer and Library Service Centres or Leisure Centres.
For more information on the festival, please contact council on 5734 6200.
Swap Meet success
“The lovely old cars were very popular. Nearly half the sites have already been booked for next year,” Mr James said.
Works for court house
“The Kilmore Court House is among our community’s most cherished assets and it is vital that these refurbishment works are carried out. The Kilmore Court House reflects our history and provides the stories of who we are and where we have come from. We invest in our heritage to ensure it remains for future generations.” Ms Symes said.
“It’s (the Kilmore Court House) is a beautiful building and we’re so grateful to Jaclyn Symes for her help – she’s been wonderful. It’s the only heritage building left in community hands in the town and we want to preserve it for the community. Jaclyn Symes is so lovely and approachable and her staff are just lovely. It makes it easier for community groups to have someone they can talk to.” Ms Le Quiniat said.
Poetry champs
Seymour to host trials
No to recorded council meetings
Wallan’s big win
WALLAN received a $5 million boost to develop better roads and enhance the town centre for small businesses and residents, creating over 60 jobs.
$3.8 million will be provided to develop road projects including providing southern ramps at the Hume Freeway and Watson Street interchange and improvements to Watson Street between the Northern Highway and Station Street as well as exploring intersection upgrades and duplication of the Northern Highway from the Hume Freeway to Wallan Secondary College.
The upgrades will improve access to the developing residential areas east of Wallan as well as Wallan train station, while also providing a vital alternative Hume Highway access point.
Northern Highway duplication would significantly reduce traffic congestion, improve travel times and make it safer for drivers to access Wallan during peak periods. PLUS THE Community Bank Adventure Playground in Wallan is the toast of the state after taking out a major award, and will now vie for a national title later this year. The playground won the prestigious Major Playspace Award at the Parks and Leisure Australia (Victoria/Tasmania) 2017 Regional Awards of Excellence last week. The award celebrates play spaces in Victoria and Tasmania over $500,000 that create a sense of ‘place’ in the community, and exhibit innovative designs that aid childhood development.