Property Prices in Melbourne, Australia

Index Info
Price to Income Ratio: 10.84
Mortgage as Percentage of Income: 97.80%
Loan Affordability Index: 1.02
Price to Rent Ratio - City Centre: 23.93
Price to Rent Ratio - Outside of Centre: 28.57
Gross Rental Yield (City Centre): 4.18%
Gross Rental Yield (Outside of Centre): 3.50%
Rent Per Month
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Apartment (1 bedroom) in City Centre 2,440.00 A$ 1,850.00-3,500.00
Apartment (1 bedroom) Outside of Centre 1,988.25 A$ 1,400.00-2,800.00
Apartment (3 bedrooms) in City Centre 4,886.94 A$ 3,500.00-6,300.00
Apartment (3 bedrooms) Outside of Centre 3,106.27 A$ 2,400.00-4,100.00
Buy Apartment Price
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Price per Square Feet to Buy Apartment in City Centre 1,243.76 A$ 929.02-1,950.95
Price per Square Feet to Buy Apartment Outside of Centre 1,083.10 A$ 743.22-1,672.24
Salaries And Financing
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Average Monthly Net Salary (After Tax) 5,778.57 A$
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.61 5.80-8.08

These data are based on 375 entries in the past 18 months from 68 different contributors.
Last update: February 2024

Sources and References
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1 Comments so far
may on Jun 22, 2020:
Rent per month : How much rent per month if 2 bedrooms apartment in City Centre?