City of BoroondaraEconomic profile
Skip to content

City of Boroondara

Rental listings

At June 2018, the City of Boroondara had a median house rental of $720, $300 higher than the median house rental for Greater Melbourne.

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 2014-2018, Automated Valuation System

Rental listings
City of Boroondara20182014Change
Housing value (at June)City of BoroondaraGreater MelbourneCity of Boroondara relative to Greater MelbourneCity of BoroondaraGreater MelbourneCity of Boroondara relative to Greater Melbourne2014 to 2018
House--------------
First Quartile$550$370+48.6%$470$320+46.9%+$80
Median$720$420+71.4%$620$370+67.6%+$100
Third Quartile$950$535+77.6%$831$465+78.7%+$119
Median Rental Yield1.9%3.1%--2.5%4.0%----
Unit--------------
First Quartile$390$350+11.4%$340$300+13.3%+$50
Median$445$410+8.5%$390$350+11.4%+$55
Third Quartile$520$500+4.0%$470$440+6.8%+$50
Median Rental Yield3.7%4.1%--3.8%4.4%----

Source: Hometrack 2014-2018, Automated Valuation System.

Rental listings, 2018
Rental listings, 2018 Third Quartile, Greater Melbourne: $500 Median, Greater Melbourne: $410 First Quartile, Greater Melbourne: $350 Third Quartile, Greater Melbourne: $535 Median, Greater Melbourne: $420 First Quartile, Greater Melbourne: $370 Third Quartile, City of Boroondara: $520 Median, City of Boroondara: $445 First Quartile, City of Boroondara: $390 Third Quartile, City of Boroondara: $950 Median, City of Boroondara: $720 First Quartile, City of Boroondara: $550
Source: Hometrack 2014-2018, Automated Valuation System
Change in rental listings, 2014 to 2018
Change in rental listings, 2014 to 2018 Third Quartile, Greater Melbourne: $60 Median, Greater Melbourne: $60 First Quartile, Greater Melbourne: $50 Third Quartile, Greater Melbourne: $70 Median, Greater Melbourne: $50 First Quartile, Greater Melbourne: $50 Third Quartile, City of Boroondara: $50 Median, City of Boroondara: $55 First Quartile, City of Boroondara: $50 Third Quartile, City of Boroondara: $119 Median, City of Boroondara: $100 First Quartile, City of Boroondara: $80
Source: Hometrack 2014-2018, Automated Valuation System

To continue building your economic story go to...

v19.09.08-1.0.0