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Melbourne rental market shows strong signs over April

By Matt Hurlston

Potential investors interested in purchasing rental property in Bentleigh could be in a good position to begin plotting their move into the local market.

A recent release from SQM Research has highlighted the growth of the national vacancy rate for rental properties across the nation, which rose from 2.1 per cent February up to 2.3 per cent in April. 

However, Melbourne has seen something that will please investors. Vacancy rates in the Victorian capital city have remained settled on 2.2 per cent, after posting a vacancy rate of 2.5 per cent at the same time last year. 

Even better, Melbourne rental properties have seen positive changes in asking rents over the last 12 months. Weekly rents for houses have risen 2.7 per cent over the year, while units increased 1.8 per cent for the week ending May 12.

SQM Research managing director Louis Christopher said that while the rental market is expected to remain relatively soft for the coming months, areas of Melbourne and other capital cities across the country have seen a boost in demand from tenants. 

Could Bentleigh real estate be right for you? 

If you're interested in purchasing investment property in Bentleigh, be sure to get in touch with Matt Hurlston at Ray White Carnegie.

His insight into the area will help you make the strongest decisions for your portfolio, in order to secure great returns in the long term. 

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