Kent Rental Allowance & Key Rental Market Information for Melbourne, March 2019
19th March, 2019
Kent’s Rental Allowance Matrix for Melbourne (as of February 2019) is now available for download.
Our timely, accurate rental market information is designed specifically with human resources professionals in mind—it ensures that human resources departments are in the best position possible to make informed decisions about employee relocations as a whole, as well as individual employee house rent allowance figures.
Our rental property data covers a breadth of information, including the percentage of parkland in specific suburbs of Melbourne, as well as population demographics (such as predominant age groups), rental vacancy rates, and rental property price breakdowns, including median and average rent prices for one, two, three and four bedroom properties.
According to our February 2019 rental property data for inner city Melbourne, there is a 3.7% vacancy rate for Melbourne rental properties and the predominant age group is 25-34 years, with parkland covering 36% of the area.
The median rent for an inner city property in Melbourne (as of February 2019) is:
- 1 bedroom: $355 per week
- 2 bedrooms: $575 per week
- 3 bedrooms: $825 per week
There is a wealth of other information available in the Melbourne Rental Allowance Matrix. The full matrix provides data for all key areas of Melbourne (not just the inner city), including South Yarra, Kew, Newport, Northcote and Brighton.
For example, you can compare the inner city suburb of the Docklands with the Inner South East suburb of South Yarra. The predominant age group in the Docklands is 25-34 years, while the predominant age group in South Yarra is 35-44 years. The rental property vacancy rate is 3.5% in the Docklands and 1.6% in South Yarra. The price breakdowns allow you to compare the cost of renting a two-bedroom property in the Docklands (where the median rent is currently $620 per week) with a two-bedroom property in South Yarra (where the median rent is currently $515 per week).
All our rental allowance data has been derived from respected and reputable sources, including:
- Data releases of leading institutes and organisations
- Polls and releases by relevant and reputable media outlets
- Our own comparative analysis of Melbourne’s rental market combined with the local knowledge we have gathered during our 70 years of operation
The compilation and provision of up-to-date rental market information is just one aspect of our suite of superior quality corporate relocation services. Our over-arching aim is to provide all our clients with confidence in their relocation projects, and excellent outcomes both for their business as a whole, and their individual employees. We do this through our industry leading service delivery model, which is backed by our 5-star Quality Service Guarantee.