AVERAGE rental prices have steadily increased across the region in the past five years, but mortgage repayment trends vary depending on municipality.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Census 2016 data shows the average weekly rent either stayed the same in the past five years, or increased by up to $35 a week across seven local government areas.
Average weekly rent varies up to $80 a week across the seven municipalities, with Horsham Rural City residents paying the most at $200 a week.
Ararat and Northern Grampians residents are close behind at $185 and $170 a week respectively.
On average, West Wimmera residents pay the least in rent – $80 a week.
This figure has not changed since the 2011 Census, making West Wimmera the only municipality not to experience a rent increase.
Ararat recorded the biggest jump – $35 a week – in average rent between 2011 and 2016.
The trends were different for mortgage repayments however.
Residents in four out of seven local government areas are paying more on average towards their mortgage each month than they were five years ago.
However the average increases overall were marginal, with repayments between $4 and $43 a month higher than the 2011 figures.
Horsham Rural City figures were again the highest in this category, with a median monthly mortgage repayment of $1200 in 2016, up $30 from five years ago.
Ararat’s average figure jumped just $4 a month since 2011, and Yarriambiack’s median monthly repayments were up $5.
Of the shires that posted mortgage decreases since 2011, West Wimmera experienced the biggest change of $58 a month.