Property Prices in Melbourne, Australia

Index Info
Price to Income Ratio: 8.81
Mortgage as Percentage of Income: 60.19%
Loan Affordability Index: 1.66
Price to Rent Ratio - City Centre: 24.81
Price to Rent Ratio - Outside of Centre: 27.61
Gross Rental Yield (City Centre): 4.03%
Gross Rental Yield (Outside of Centre): 3.62%
Rent Per Month
Edit Range
Apartment (1 bedroom) in City Centre 1,792.27 A$ 1,500.00-2,200.00
Apartment (1 bedroom) Outside of Centre 1,402.79 A$ 1,000.00-1,690.00
Apartment (3 bedrooms) in City Centre 3,329.17 A$ 2,800.00-4,000.00
Apartment (3 bedrooms) Outside of Centre 2,286.83 A$ 1,870.00-3,000.00
Buy Apartment Price
Edit
Price per Square Feet to Buy Apartment in City Centre 914.35 A$ 836.12-1,114.83
Price per Square Feet to Buy Apartment Outside of Centre 751.77 A$ 650.32-929.02
Salaries And Financing
Edit
Average Monthly Net Salary (After Tax) 5,090.59 A$
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 3.29 2.50-4.00

These data are based on 323 entries in the past 18 months from 55 different contributors.
Last update: January 2021

Sources and References
Sign up for our newsletter:
Your Email Address:
Leave a comment:

Your name: Sign In

Your email address (optional):

Your comment (no HTML):

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?