Region rents go through the roof

Jessica Benton
RENTS have skyrocketed at St Leonards, according to a survey.
RP Data found median weekly advertised rents for houses had increased by $65 a week over the last 12 months in the bayside town.
Tenants at St Leonards were paying a median of $250 per week for houses, compared with $185 in 2007.
NH Abbey First National property manager Dennis Abbey said a surge in new home construction was to blame for the rent increases.
“There’s a lot more newer properties, like townhouses, being built in St Leonards, which means prices are increasing,” he said.
“The prices are in relation to what the home is so if there’s a three-bedroom home or townhouse with modern features and conveniences, then you could be paying up to $240 to $250 per week.
“A few years ago there were a lot more older-style homes available for rent and because it’s about half an hour’s drive from Geelong, the rent prices were about $100 cheaper than Geelong. Now that there’s newer, better quality homes available, the prices are going up.”
Mr Abbey said the rent jump was also in line with rising real estate prices in the area.
Barwon Heads, Drysdale and Jan Juc also had median rental increases above $50. It cost a median of $258 per week to rent in Drysdale, while Jan Juc tenants were paying $330 a week.
Barwon Heads and Torquay were the most expensive places to rent a house at $350 a week, with Barwon Heads’ median rental prices increasing by $62 and Torquay’s by $30 over the last year.
However, median unit rent prices at Torquay had fallen, with rent at $260 last year, compared with $285 in 2007.
Median unit rents incurred the greatest increase at Manifold Heights, with an $83 increase over the last 12 months to $218. Geelong unit rents jumped by $80 to $300.