Our January Rental Market Review

Stonnington

The Stonnington rental market remained highly competitive in January, with demand driving quick leasing cycles. Properties in sought-after suburbs like South Yarra, Malvern, and Armadale attracted significant interest, particularly those offering modern amenities and proximity to transport, schools, and lifestyle options. Family homes saw consistent interest, while sleek apartments appealed to professionals. Low vacancy rates and well-presented properties leasing quickly made it a great month for rental providers in Stonnington.

Feature Property:

5 Gaynor Court, Malvern

· Leased off-market

· $4,000 per week, fully furnished

· 5 bed | 4 bath | 2 car

Boroondara:

Boroondara’s rental market started 2025 on a solid note, with properties leasing after just one or two opens. Correctly priced, well-presented homes attracted plenty of interest, demonstrating the ongoing demand in this highly sought-after area.

Feature Property:

5 Merrion Grove, Kew

· Leased for $2,250 per week

· 5 bed | 3 bath | 2 car

Port Phillip:

The rental market in Port Phillip performed strongly in January, with properties seeing high foot traffic at inspections and typically leasing after the first or second open. Family homes with 3+ bedrooms, priced between $1,000–$2,000 per week, were in high demand, while two-bedroom homes under $1,000 also attracted significant interest.

Feature Property:

602/430 St Kilda Road, Melbourne

· Leased off-market

· $1,750 per week

· 3 bed | 3 bath | 2 car

Bayside:

The Bayside market was highly active in January, driven by strong demand from executive families seeking spacious homes in prime locations. Family homes renting for over $1,800 per week were particularly sought-after. The apartment market also saw intense competition, with some open houses attracting groups of 10 or more prospective renters.

Feature Property:

24 Loller Street, Brighton

· Leased for $2,300 per week

Mornington Peninsula:

Stock levels on the Peninsula remained tight in December and January, as many homes were used for holiday stays or short-term accommodation. Despite this, rental enquiries were strong, with prospective renters embracing the Peninsula lifestyle and splitting time between the city and the coast. January also saw a surge in rental appraisals, with many property owners exploring ways to maximise their investments.

Feature Property:

27 Helsal Point, Safety Beach

· Leased for $1,900 per week

· 4 bed | 4 bath | 2 car

Manningham:

Family homes in Manningham attracted significant interest last month, further highlighting the popularity of this well-connected suburb.

Feature Property:

1 Cosmos Court, Doncaster East

· Leased for $950 per week

· 5 bed | 3 bath | 1 car

Balwyn:

The Balwyn rental market experienced increased enquiries and new listings in January. Properties within the Balwyn High School zone remained in high demand, particularly those that were well-priced and well-presented.

Feature Property:

5 Elliott Avenue, Balwyn

· Leased for $750 per week on a fixed-term lease

· 4 bed | 2 bath | 2 car

Projects:

The rental market was highly active last month, with strong interest in apartments featuring two car spaces. Near-new apartments proved particularly popular, with a vacancy rate averaging less than two weeks.

Feature Property:

109/553 Burke Road, Camberwell

· Leased for $800 per week

· 2 bed | 2 bath | 2 car