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12 JULY, 2022
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Celebration for NAIDOC Melton residents celebrated indigenous culture during council’s NAIDOC (National Aborigines and Islanders Day Observance Committee) Week celebrations last Wednesday. The festivities included a traditional smoking ceremony which was conducted by Kirrip Aboriginal Corporation justice worker Keenan Madden (pictured with son Ethan and Greg Paul). More pictures: Page 12
(Damjan Janevski) 287669_01
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Low rental rate is biting By Olivia Condous Low rates of rental vacancies in regional areas such as Moorabool means tenants are more vulnerable to rent increase pressure, a new analysis of rental vacancy rates has found. Recent property and rental data from SQM Research showed the vacancy rate in May was 0.7 per cent in Bacchus Marsh and 0.4 per cent in Ballan. According to the data, which was analysed by Everybody’s Home – a coalition of housing, homelessness and welfare organisations – the national vacancy rate is sitting at 1 per cent. Everybody’s Home spokesperson Kate Colvin said a healthy vacancy rate sits
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... real estate agents can see that even if they increase the price for the property, they’ll still be able to rent it out - Kate Colvin
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between 2 to 3 per cent, where there’s roughly the same amount of renters as there are rental properties on the market. Ms Colvin said a low vacancy rate suggests there are more renters looking for properties than there are properties available.
“That’s where you end up with big increases in rents, because all of that competition means that real estate agents can see that even if they increase the price for the property, they’ll still be able to rent it out,” Ms Colvin said. “Often they do take that opportunity.” According to quarterly data from the Department of Families, Fairness and Housing for March this year, the median cost of renting a home in Moorabool was $400 a week, whereas the Victorian non-metro average was $385. The state government has made an effort to combat regional Victoria’s housing struggles through the Big Housing Build initiative, with 18 regional municipalities receiving a
share of $1.25 billion in funding. Moorabool received a minimum investment of $20 million as part of the program, to assist with housing issues across the region. Ms Colvin said while Everybody’s Home welcomed the state government’s investment, she said it needed to continue beyond its wrap date of 2024 to make a dent in the consequences of “a decade of housing neglect”. “While the Victorian state government has invested in social housing, we will only start to see significant change once we see a significant promise from the federal government as well.”
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