Inner-Melbourne Rents Up More Than 30%
The gap between house and unit rents is tightening across the country.
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While the tightening grip of a rising rental market is not new, the rate of the pricing surge for apartment rents continues, up 10% nationwide in the 12 months to June. It marks the first double-digit growth for the sector according to the latest data from CoreLogic.
Inner-city apartments across Melbourne and Sydney led the biggest rental gains as West Melbourne, Docklands and Southbank ascended by more than 31%.
Sydney also saw the median rents for apartments in Ultimo, Zetland and Haymarket jump sharply by 19.4%, 17.2% and 18.7% respectively.
Apartment rents outperform houses nationwide over the past three months by 3.5% and 2.7% respectively as tenants seek out affordable options according to CoreLogic research analyst Kaytlin Ezzy.
“Rental demand across the medium and higher density segment has surged throughout the first half of the year, partially driven by worsening affordability in the house sector,” Ms Ezzy said.
“Since March 2020 house rental values have increased at nearly twice the rate of unit rental values with the gap blowing out to 13.5 per cent in December 2021.
“It’s likely the gap in rental values will narrow further as rental demand continues to shift towards relatively more affordable higher density properties.”
Rental prices rose across all capital cities in the latest quarter and year on year and are tipped to continue to rise as demand continues. Median rents for Sydney houses rose by 2.5% and units by 3.7% over the quarter. This is compared to house rents climbing by 9/3% and units by 10.3% in the past 12 months.
Melbourne saw its median house rent lift by 2.4% and units by 3.7% in the past three months and house rents 5.2% and 10.9% for units in the past 12 months. Adelaide saw the country’s largest rental rises with houses up 4.4% and units up 3.9% over the last quarter.
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
This renovated Hampton-style home offers luxury living and seamless indoor-outdoor entertaining in a prime coastal location.
2 min
A sanctuary of modern design and craftsmanship, this stunning north-facing family home in Dover Heights sets a new benchmark for luxury coastal living. Perched on a sun-drenched 563sqm block, the newly renovated residence combines elegance with functionality, making it the ultimate entertainer’s retreat.
Designed for seamless indoor-outdoor living, the open-plan living and dining areas lead out to a sunlit alfresco zone with a swimming pool. “It’s where we spend most of our time, whether we’re hosting friends or relaxing with family,” says the owner. Floor-to-ceiling glass doors maximise the natural light and offer views of the beautifully landscaped backyard.
At the heart of the home is a gourmet kitchen equipped with premium Bosch and Siemens appliances, including two 900mm ovens, two dishwashers, and a gas wok with dual extraction fans.
Upstairs, the four spacious bedrooms offer plenty of privacy. The master suite is a true retreat with a luxurious ensuite and custom-built wardrobes. Two other bedrooms feature their own ensuites, while a home office and gym complete the upper level. Convenience is key, with lift access to both floors, a remote-controlled garage with internal access, and off-street parking for three cars.
The home is packed with modern features like Daikin ducted air-conditioning with room-specific controls, rain-sensor skylights and CCTV. Sustainability is also a priority, with 48 solar roof panels and a Tesla 2.5kw solar edge inverter reducing the home’s environmental impact.
Located a short stroll from Rodney Reserve and local favourite Archies Café Co., the house is close to prestigious schools, Rose Bay village, and the iconic Bondi Beach. It’s the perfect blend of convenience and tranquillity, offering a family-friendly neighbourhood while being just minutes away from Sydney’s finest attractions.
With its timeless Hampton-style aesthetic and modern amenities, 60 Blake Street is more than just a home—it’s a lifestyle. Whether you’re entertaining guests or enjoying a quiet evening by the pool, every inch of this property has been thoughtfully designed for comfort and luxury.
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
