Regional Victorian towns see significant rent increases

Asking rents are increasing in several lesser-known regional towns across Victoria, driven by limited rental stock and an exodus of investors. According to the latest Domain Rent Report, Glenelg Shire saw the state's highest annual growth at 17.8 per cent, with weekly rents rising from $450 to $530.

Mount Alexander followed with a 15 per cent increase, bringing weekly rents from $500 to $575. Other significant rises were recorded in Northern Grampians (10.3 per cent), Campaspe (10 per cent), and Golden Plains (10 per cent). In contrast, lifestyle locations such as Alpine, Latrobe, Mansfield, and Indigo remained steady.

Economists noted that while overall regional house rents have flatlined, smaller markets are more sensitive to demand fluctuations due to limited stock. Additionally, successful agricultural years in areas like Campaspe and Golden Plains have strengthened local labor markets and increased spending power.