Canstar, a financial comparison website, has published its 2024 Australian market report, which shares data on regional and capital cities’ median rental price.
Shepparton has a median rental price of $450 per week, which is high compared to other regional Victoria cities.
Mildura sat at $440, Seymour at $400 and Redan, Ballarat at $380.
However, Shepparton wasn’t the most expensive place, with Wodonga’s median being $470 and Bacchus Marsh’s $475.
When compared to Melbourne, Shepparton looks cheap, with central Melbourne sitting at a median of $625 and suburbs ranging from $410 to $560.
Looking at regional NSW, the most expensive places to rent are Warrawong and Wallsend, both sitting at a median of $580.
The cheapest place to find a rental is Mount Austin, at $425.
The report describes regional Victoria as a “second wind market” meaning that the prices have been on hold following the sharp increases from 2020 to 2023 but are now “showing signs of revival”.
Real estate analysis company Hotspotting’s managing director, Terry Ryder, talked in the report about current trends in the housing market
“This report identifies the opportunities for buyers with smaller deposits to enter the market — and for many, that may be via the increasingly popular option of attached dwellings,” he said.
“Almost a third of the properties featured in the Deposit Stars report reflect the growing trend of buyers opting for the likes of units or townhouses.
“With so many of these properties in central locations, and at the perfect size for both downsizers and first home buyers, there’s no doubt this trend will continue.”
Read the full report at canstar.com.au/deposit-stars-report
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