Melbourne's most valuable spare rooms

Another year has come, and like most people you’ve probably set some awesome new years resolutions. New year, new me and all that jazz.

Maybe you’ve been sensible and decided you’ll pay down that mortgage or bolster your savings. Or, perhaps you’ve decided it’s the year for a big overseas trip.

Either way, these will come at a price, and unless you’ve got a big promotion coming up they might be hard to achieve.

So, if you have a spare room in your home, it might be time to start renting it out to help pay for your 2016 goals. It’s also a great way of mixing up your home life; with new flatmates comes new experiences and potential lifelong friends.

If that’s still not enough to get you clearing out your space, perhaps finding out the value of your room just might. According to figures released by Flatmates.com.au rooms in some Melbourne suburbs can bring in a healthy $12,500 - $15,200 per annum.

Based on average room rental prices from the last half of 2015, we have put together a list of the most valuable rooms by city, as well as their popularity amongst those currently seeking a place.

Rank	Suburb	Average Rent P/W	Demand
1	Docklands	$293	Moderate
2	Southbank	$282	High
3	Port Melbourne	$270	Moderate
4	Melbourne CBD	$270	Very High
5	South Yarra	$270	Very High
6	St Kilda Road Central	$265	Low
7	Collingwood	$263	High
8	South Melbourne	$260	Moderate
9	Fitzroy	$258	Very High
10	St Kilda West	$254	Low
11	Abbotsford	$254	Moderate
12	Albert Park	$253	Moderate
13	East Melbourne	$248	Moderate
14	West Melbourne	$246	Moderate
15	Carlton	$245	Very High
16	Richmond	$245	Very High
17	Caulfield	$242	Moderate
18	Prahran	$241	High
19	St Kilda	$241	Very High
20	Windsor	$241	High

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^{Average prices based on rooms listed on Flatmates.com.au between 1 July - 31 December 2015}

^{Demand based on the number of people looking in the respective suburb on 6 January 2016}