City of DarebinEconomic profile
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City of Darebin

Rental listings

At June 2017, the City of Darebin had a median house rental of $460, $80 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 Darebin20172013Change
Housing value (at June)City of DarebinVictoriaCity of Darebin relative to VictoriaCity of DarebinVictoriaCity of Darebin relative to Victoria2013 to 2017
House--------------
First Quartile$380$330+15.2%$328$290+13.1%+$52
Median$460$380+21.1%$390$340+14.7%+$70
Third Quartile$575$475+21.1%$500$420+19.0%+$75
Median Rental Yield2.7%3.7%--3.8%4.6%----
Unit--------------
First Quartile$310$300+3.3%$280$270+3.7%+$30
Median$360$370-2.7%$320$330-3.0%+$40
Third Quartile$415$450-7.8%$360$400-10.0%+$55
Median Rental Yield4.1%4.3%--4.6%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 Darebin: $415 Median, City of Darebin: $360 First Quartile, City of Darebin: $310 Third Quartile, City of Darebin: $575 Median, City of Darebin: $460 First Quartile, City of Darebin: $380
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 Darebin: $55 Median, City of Darebin: $40 First Quartile, City of Darebin: $30 Third Quartile, City of Darebin: $75 Median, City of Darebin: $70 First Quartile, City of Darebin: $52
Source: Hometrack 2011-2016, Automated Valuation System

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