Local vacancy rates and rents BOTH on the rise

If you own, or in the future would consider owning, revenue property this is very important info for you.  Over the last year, residential rental vacancy rates in Victoria have more than doubled from 0.5% to 1.4% but still remain well below the national average.  At the same time, average rents have increased by 3.4% for most suites, with 2 bedroom suites in the highest demand.  This is according to the newly released CHMC Fall 2009 rental survey.