Property Prices in Melbourne, Australia

Index Info
Price to Income Ratio: 8.65
Mortgage as Percentage of Income: 57.27%
Loan Affordability Index: 1.75
Price to Rent Ratio - City Centre: 24.35
Price to Rent Ratio - Outside of Centre: 26.90
Gross Rental Yield (City Centre): 4.11%
Gross Rental Yield (Outside of Centre): 3.72%
Rent Per Month
Edit Range
Apartment (1 bedroom) in City Centre 1,715.82 A$ 1,400.00-2,080.00
Apartment (1 bedroom) Outside of Centre 1,385.47 A$ 1,000.00-1,600.00
Apartment (3 bedrooms) in City Centre 3,251.59 A$ 2,550.00-4,000.00
Apartment (3 bedrooms) Outside of Centre 2,261.50 A$ 1,800.00-3,000.00
Buy Apartment Price
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Price per Square Feet to Buy Apartment in City Centre 866.92 A$ 743.22-975.47
Price per Square Feet to Buy Apartment Outside of Centre 723.78 A$ 557.41-929.02
Salaries And Financing
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Average Monthly Net Salary (After Tax) 4,949.60 A$
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 2.94 2.20-4.00

These data are based on 342 entries in the past 18 months from 54 different contributors.
Last update: June 2021

Sources and References
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2 Comments so far
may on Jun 22, 2020:
Rent per month : How much rent per month if 2 bedrooms apartment in City Centre?
James Tan on Jan 22, 2019:
What is the price of land (per sq ft) at Swanston Street?