Melton West rental affordability: What landlords are asking from tenants

Melton West rental affordability: What landlords are asking from tenants
Melton West rental affordability: What landlords are asking from tenants

Melton West - and the 3337 postcode - was identified as one of the most affordable rental suburbs closest to Melbourne's central business district, according to Australia's first rental affordability index.

The index is a joint project between peak housing advocate National Shelter, Community Sector Banking and SGS Economics & Planning.

Property Observer went looking for houses and apartments in Melbourne's Melton West to find a suitable range. These are the ones we came up with:

 1. A four-bedroom house on 19 Lomandra Bowl, MELTON WEST 3337 (above) is available for $370 a week. This one topped the rentals for houses. 

2. A three-bedroom house on 4 Red Oak Street, MELTON WEST 3337 (below) is available for $280 a week.

Melton West rental affordability: What landlords are asking from tenants

3. A two-bedroom unit on 2/7 Fishburn Grove, MELTON WEST 3337 (below) is out for rent for $255 a week.

Melton West rental affordability: What landlords are asking from tenants

4. A two-bedroom unit at 25U Scott Street, MELTON 3337 (below) is available for $220 a week and was the cheapest. 

Melton West rental affordability: What landlords are asking from tenants

The median house rental for Melton West is $280 per week with a median gross yield of 4.7%, according to data on www.propertyvalue.com.au.

Its median gross yield is higher than the national average of 4.24%.

For units, the median rent is $260 per week, while the gross yield is 5.7%, also higher than the national average of 4.63%, the data shows. 

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Property News Rental market

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