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, $290 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 2013-2017, Automated Valuation System

Rental listings
City of Boroondara20172013Change
Housing value (at June)City of BoroondaraGreater MelbourneCity of Boroondara relative to Greater MelbourneCity of BoroondaraGreater MelbourneCity of Boroondara relative to Greater Melbourne2013 to 2017
House--------------
First Quartile$536$360+48.9%$470$315+49.2%+$66
Median$700$410+70.7%$600$360+66.7%+$100
Third Quartile$950$520+82.7%$830$450+84.4%+$120
Median Rental Yield2.1%3.3%--3.0%4.4%----
Unit--------------
First Quartile$370$330+12.1%$345$290+19.0%+$25
Median$420$385+9.1%$390$340+14.7%+$30
Third Quartile$495$460+7.6%$475$410+15.9%+$20
Median Rental Yield3.8%4.2%--4.2%4.6%----

Source: Hometrack 2011-2016, Automated Valuation System.

Rental listings, 2017
Rental listings, 2017 Third Quartile, Greater Melbourne: $460 Median, Greater Melbourne: $385 First Quartile, Greater Melbourne: $330 Third Quartile, Greater Melbourne: $520 Median, Greater Melbourne: $410 First Quartile, Greater Melbourne: $360 Third Quartile, City of Boroondara: $495 Median, City of Boroondara: $420 First Quartile, City of Boroondara: $370 Third Quartile, City of Boroondara: $950 Median, City of Boroondara: $700 First Quartile, City of Boroondara: $536
Source: Hometrack 2011-2016, Automated Valuation System
Change in rental listings, 2013 to 2017
Change in rental listings, 2013 to 2017 Third Quartile, Greater Melbourne: $50 Median, Greater Melbourne: $45 First Quartile, Greater Melbourne: $40 Third Quartile, Greater Melbourne: $70 Median, Greater Melbourne: $50 First Quartile, Greater Melbourne: $45 Third Quartile, City of Boroondara: $20 Median, City of Boroondara: $30 First Quartile, City of Boroondara: $25 Third Quartile, City of Boroondara: $120 Median, City of Boroondara: $100 First Quartile, City of Boroondara: $66
Source: Hometrack 2011-2016, Automated Valuation System

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