Kent Rental Allowance & Key Rental Market Information for Melbourne, February 2018

Rental allowance & rental market information for Melbourne, February 2018 image
Rental allowance & rental market information for Melbourne, February 2018

Kent’s Rental Allowance Matrix for Melbourne (as of February 2018) is now available for download.

This rental market information matrix provides HR departments with the up-to-date, accurate and relevant information. The beauty of this rental property data is that enables HR professionals to make important comparisons at a glance. It offers rent allowance information on key Melbourne suburbs and areas, as well as price breakdowns on one, two, three and four-bedroom apartments.

This breadth of information allows you to compare across factors such as predominant age groups, parkland availability, median and average prices as well as rental property vacancy rates. These comparison points give HR professionals an idea of the character of suburbs, as well as the costs associated with living in those suburbs.

For the iconic inner-north suburb of Northcote, our rental allowance data shows that the suburb is 6 square kilometres, of which 35% consists of parkland. It has a predominant age group of 24 to 25 years old years and a vacancy rate of 1.6% meaning it is a highly-sought after rental location. The median rental price property breakdown is as follows:

  • 1 bedroom: $315 per week
  • 2 bedroom: $550 per week
  • 3 bedroom: $695 per week
  • 4 bedroom: $795 per week

You can access this depth of rental market information for all the key areas of Melbourne, including the inner-city, Docklands, Kew, Brighton and Newport. This allows for quick and easy comparative analyses across the key points of each suburb, including lifestyle and cost so that you can place an assignee in an area they will enjoy, while still ensuring the rental allowance is within the budget of the business.

For example, a younger assignee will be better suited to areas like Northcote and the Docklands where the predominant age group is 25 to 34 year olds than suburbs like South Yarra (35 to 44 year olds) and Kew (0 to 14 year olds) which have an older, or young family demographic. You can also stay on budget by comparing price points. The matrix shows that a one-bedroom property in Northcote ($315) is cheaper than a similar property in the Docklands ($450).

You can use our information as a reliable source, as we only take data from sources that we trust, such as:

  • Releases of critical data metrics by leading organisations and institutes
  • Polls and reports provided by reputable and relevant media outlets
  • We also use the knowledge we have gained during our 70 years in the industry and our comparative analysis principles.

The provision of this rent allowance information for rental property management is part of our aim to provide our clients with an end-to-end relocations service that allows them to hand over all of the relocation tasks to us so that they can focus on the business aspect of the relocation. This matrix complements our comprehensive corporate relocations services, and we encourage all HR professionals to print off a copy.