City of BoroondaraEconomic profile
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City of Boroondara

Rental listings

At June 2017, the City of Boroondara had a median house rental of $700, $320 higher than the median house rental for Victoria.

Housing valuation and rental data are a measure of the economic desirability of living in the local area. High and increasing rents are an indication of a strong economy and a desirable area, with access to jobs and services. Units are more commonly rented than houses, and renters tend to be younger than home owners on average. People may rent to be close to employment, entertainment and services, or they may rent while saving to buy a home.

Housing prices often factor in a home ownership premium, but rental costs are a more direct measure of the time-value of living in the area. Increases in rents often have a more direct relationship to employment and demand for housing.

Hometrack 2013-2017, Automated Valuation System

Rental listings
City of Boroondara20172013Change
Housing value (at June)City of BoroondaraVictoriaCity of Boroondara relative to VictoriaCity of BoroondaraVictoriaCity of Boroondara relative to Victoria2013 to 2017
House--------------
First Quartile$539$330+63.3%$470$290+62.1%+$69
Median$700$380+84.2%$600$340+76.5%+$100
Third Quartile$950$475+100.0%$830$420+97.6%+$120
Median Rental Yield2.1%3.7%--3.0%4.6%----
Unit--------------
First Quartile$365$300+21.7%$345$270+27.8%+$20
Median$420$370+13.5%$390$330+18.2%+$30
Third Quartile$490$450+8.9%$475$400+18.8%+$15
Median Rental Yield3.8%4.3%--4.2%4.7%----

Source: Hometrack 2011-2016, Automated Valuation System.

Rental listings, 2017
Rental listings, 2017 Third Quartile, Victoria: $450 Median, Victoria: $370 First Quartile, Victoria: $300 Third Quartile, Victoria: $475 Median, Victoria: $380 First Quartile, Victoria: $330 Third Quartile, City of Boroondara: $490 Median, City of Boroondara: $420 First Quartile, City of Boroondara: $365 Third Quartile, City of Boroondara: $950 Median, City of Boroondara: $700 First Quartile, City of Boroondara: $539
Source: Hometrack 2011-2016, Automated Valuation System
Change in rental listings, 2013 to 2017
Change in rental listings, 2013 to 2017 Third Quartile, Victoria: $50 Median, Victoria: $40 First Quartile, Victoria: $30 Third Quartile, Victoria: $55 Median, Victoria: $40 First Quartile, Victoria: $40 Third Quartile, City of Boroondara: $15 Median, City of Boroondara: $30 First Quartile, City of Boroondara: $20 Third Quartile, City of Boroondara: $120 Median, City of Boroondara: $100 First Quartile, City of Boroondara: $69
Source: Hometrack 2011-2016, Automated Valuation System

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