Melbourne’s Rental Market Has Hit a Breaking Point
Melbourne’s rental landscape has intensified dramatically. The city’s median rent has now climbed beyond $650 per week, while many inner-city suburbs are seeing two-bedroom units renting for over $900 per week. Meanwhile, vacancy rates remain stuck around 1.8%, far below the 3% level needed for a balanced and healthy rental market.
The fundamentals are unmistakable:
- Demand is surging.
- Supply is tightening.
- And rental prices continue to climb.
For renters—families, essential workers, students, and young professionals—affordability has deteriorated to crisis levels.
For property investors, however, these same conditions are creating an extremely competitive advantage. Ultra-low vacancy, persistent demand, and rising rents are delivering some of the most attractive rental yields and long-term stability seen in the Victorian market in many years.
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