The latest REIV vacancy rates confirm that they have fallen even further in the June quarter with the availability of rental homes in the outer suburbs of metropolitan Melbourne contracting to their lowest levels ever recorded.
Overall, the rental vacancy rate for metropolitan Melbourne in June was 1.5 per cent, still very tight with no significant improvement envisaged in the short term.
The level of rental vacancies contracted in the inner city and outer suburbs but eased slightly in the middle suburbs.
Within four kilometres of the CBD the vacancy rate dropped from two per cent in March to 0.9 per cent in June.
Suburbs between four and 10km from the CBD recorded vacancy rates easing from one per cent in March to 1.3 per cent. The vacancy rate also eased in the middle suburbs from 1.7 to two per cent and contracted in the outer suburbs from 1.7 to 0.8 per cent.