Landlords of real estate in Carnegie, Malvern and Malvern East may be pleased with figures recently released by the Real Estate Institute of Victoria (REIV).
These inner-city Melbourne suburbs are firm family favourites, with a drop in vacancy rates across the city spelling good news for property investors.
Month-on-month to march, Melbourne's vacancy rate dropped by 0.1 percentage points, to 2.8 per cent. The median rental price for a house in the city was $395 in March, ahead of the regional Victorian average ($290), according to the REIV.
Trends for apartment living
However, it's not just houses that are popular in the city.
Two-bedroom apartments are increasingly sought after in Melbourne, pulling in a median weekly rent of $390 during the March quarter, according to an April 16 article from the REIV.
This represents a 1.3 per cent increase on the final quarter of 2013.
High growth in weekly rental prices was seen in the one-bedroom apartment market.
"It appears that this 'state-of-the-art' style of living is appealing to, and drawing tenants across Melbourne," explained REIV Chief Executive Enzo Raimondo.
"While houses boast large living areas and yards, apartments – with the latest in interior design and impressive shared facilities – are yielding higher rents," Mr Raimondo elaborated.
If you're thinking about investing in Carnegie or Malvern East real estate, it pays to consider all options. Talk to an expert such as Matt Hurlston at Ray White Carnegie today.