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.