Rent cost in Melbourne is subject to supply and demand. This means that Rent prices in
Melbourne can vary from time to time. When interest rates are low, rent cost in Melbourne
tend to be lower as people starts owning properties. When interest rates are high, rent
cost in Melbourne goes as people cannot afford to buy new units or houses.
RP Data said rents in capital cities rose 4.2 per cent in the year to December 2010, above
the 2.7 per cent official inflation rate over the same period. Outside capital cities, rents
rose 2.9 per cent.
That house affordability in Melbourne will leave many renters with little choice but to pay
more for a home.
In the December 2010 quarter, rents on houses rose 2.9 per cent to a median price of
$360 a week in Melbourne.
Rent cost in Melbourne vary according to a number of factors, such as:
* size of the property
* condition of the property
* garden space
If you intend to study in Melbourne university, you should expect rent cost in Melbourne to
be something close to the following per week:
Hostels (furnished) close to Parkville Campus where you have Shared bathroom & kitchen
facilities - $200
Residential Halls & Colleges near Parkville campus Ranges: $483 - $588.
Student apartment furnished close to Parkville Campus:
1-bedroom single occupancy - $340
1-bedroom twin share - $380
2-bedroom - $490
Vacant property unfurnished
1-bedroom apartment Close to Parkville Campus - $310 and Within 6km of Parkville
Campus - $260
2-bedroom apartment Close to Parkville Campus - $440 and Within 6km of Parkville
Campus - $370
2-bedroom house Close to Parkville Campus - $450 and Within 6km of Parkville Campus
These figures are current as at Dec 2010.
Check the suburbs profile here.
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Rent cost in Melbourne Australia