Vacancy rates for rental properties in Melbourne are at historic lows, at only 1.4 percent, meaning rents are rising to historic highs, not only through scarcity but because owners have increased charges to meet the financial pressure of changing interest rates and increasing mortgage repayments. Long queues can be seen at Open for Inspections. A frustrating time for renters, but a good time to buy or own a rental property, with rental prices much increased from a year ago. With the start of every year relocations for employment reasons mean fresh rental demand. Added to that, international students returning to Australia have ensured the rental market is going to remain a landlord’s delight.

Being near a well-regarded school has become one of the main priorities for renters, so investors looking to purchase a rental property would do well to pay close attention to school catchment zones. A prestigious and esteemed school nearby will strengthen property prices now more than ever.

Good townhouses, high-end houses, and impressive apartments are in great demand for rental currently, so if you have a property in these categories you’re considering renting, our experienced Property Management team will do so swiftly and for the market’s top return.