VIC Melbourne Rental Market

Hey all, just wanting to get your feel of the Melbourne rental market over the past few years. I have two rental properties (Hawthorn East and Black Rock) and I haven't seen any movement in rent over the past 2-4 years.

What's everyone else's feel on this?

Cheers
jacbak

 

Cheers Y-man, have definitely noticed the low vacancy rates and am lucky enough to have had amazing tenants for 5 and 10 years each in each property.

 

Generally reasonably steady increases for most properties in my experience. I do have a few that we did rent increases this time last year though and this year not increasing due to different stock (mainly areas with newer builds/apartments)

 

Different side of town to what you're in - but in the West we've seen generally regular increases unless you're in a newly developing area - there's a lot of oversupply in new estate so those who built first (say in stage 1 or stage 2 of a 15-30 stage estate) will generally need to wait a few years until increases come.