Melbourne's most valuable spare rooms

on 7 January 2016 by Aaron

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.

image

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

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

Ohpy6i7a6rhfo47jnmgy
  • Aaron
  • media@flatmates.com.au
  • Aaron is the Flatmates.com.au's Community Manager and PR guy. He is an avid supporter and user of share accommodation, currently living with two (lucky) flatmates.