RENTAL availability became even more challenging in February, with the rental vacancy rate in regional Victoria declining.

The regions' rental vacancy rate fell 0.06 percentage points month-on-month to 1.11 per cent, according to the latest PropTrack Market Insight Report.

Compared to February last year, it was 0.11 ppt lower.

In Melbourne, the vacancy rate fell 0.16 ppt month-on-month to a rec...