Inner Melbourne Apartment Rents Jump 10% | Kanebridge News
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Inner Melbourne Apartment Rents Jump 10%

Southbank and Docklands were among the fastest-growing rental markets in Australia.

By Terry Christodoulou
Fri, Jan 28, 2022Grey Clock < 1 min

Rent for Melbourne’s inner-city apartments has increased by more than 10% in the last 12 months according to data from CoreLogic.

The lift in asking apartment rents in suburbs such as Docklands and Southbank, comes from increased demand from tenants now priced out of the detached housing market.

Rental growth was particularly strong in the December quarter with Southbank and Docklands up 3.8% and 3.7% respectively to a median rent of $454 and $471 making them among Australia’s fastest-growing rental markets.

According to CoreLogic’s research director Tim Lawless, the inclusion of many of Melbourne’s inner-city comes from a turnaround in rental trends.

“Inner-city Melbourne units rents fell by 24.2 per cent as high levels of unit supply met headlong with a rental demand shock as international borders closed and domestic demand swung towards lower density options. Since that time inner Melbourne unit rents have rebounded by 8.5 per cent,” Mr Lawless explained.

The Melbourne market outperformed all other capitals, posting a 1.6% rise in rents over the 12 month period.

However, rents in the Victorian capital remain 5.5% below the record high of July 2019 and with pricing still lower than pre-COVID-19 levels, there is room to grow according to Mr Lawless.

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By Robyn Willis
Fri, Aug 19, 2022 < 1 min

Treechangers seeking a home and income should take note of this west coast property in picturesque Pickering Brook in the Perth Hills, which comes with its own live-in residents.

Known as ‘the Margaret River of the Hills’ the area boasts stunning bushland while being just 30 minutes from all the amenity Perth has to offer.

With eight bedrooms and 10 bathrooms, this property is a home and business, operating as a thriving day spa, Hidden Valley Eco Lodges and Day Spa.

The private main residence is made of rammed earth for thermal comfort and has three bedrooms, luxurious bathroom and a large open plan living area. A private jacuzzi on the spacious entertaining deck is the perfect spot for enjoying beautiful bushland views at the end of a long day.

For day spa guests, there are four deluxe spa treatment rooms serviced by qualified staff, a reception area and lounge plus a commercial kitchen. Overnight guests can choose from five lodges with fully equipped kitchen and heated jacuzzi. As a going concern with a consistently high annual turnover, it’s a unique opportunity for the right buyer.

Set over 5.46ha, the property is also home to a very special group of residents: a small herd of alpacas, which are included in the sale.

Price guide: $6.5 million

Inspection: By expression of interest

Agent: Susanne Broido, The Agency 0499 770 237