Rents on the rise

Bendigo Weekly | Bendigo Weekly | 21-Sep-2017

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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 Real Estate Institute of Victoria 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. 

Two-bedroom units were 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 White Hills commands a median rent of $308 a week.

For more information on weekly median rents by town or region, visit reiv.com.au. 

Joseph Walton

President, REIV                                             

The state government will overhaul Victoria’s agricultural planning rules with a suite of proposed reforms it says strike the balance between delivering for farmers and meeting community expectations.

The proposed changes will simplify planning requirements for animal based farming and will improve the consistency of how the rules are applied. 

The reforms aim to make the land use planning process clearer for farmers, councils and the community.

This work delivers on key actions under Planning for Sustainable Animal Industries, the government’s response to the 2016 Animal Industries Advisory Committee report.

A two month consultation period began this week, seeking feedback on proposed new land use terms and definitions, graduated planning controls and guidance to help improve the quality of planning applications and permit conditions.

The reforms have been developed with significant input from a reference group comprising key industry sectors, local government and community members.

The changes include new land use terms and definitions that will reduce regulation for farmers with grazing animals and small-scale pig and poultry farms that are low risk.

Benefits for farmers include greater certainty due to clearer land use definitions and planning controls, more flexibility to supplementary feed their livestock without the need for a planning permit, and permit exemptions for small scale pig and poultry producers.

To find out more about the planning reforms, including the timing and location of information sessions, go to agriculture.vic.gov.au/planning-animal-industries

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