One of the busiest times for rentals is just around the corner with the January and February period traditionally seeing more activity.
With that in mind, we’ve asked our Property Managers at National Property Buyers to recommend a couple of the highly regarded suburbs in Adelaide, Brisbane, and Melbourne for renters.
BRISBANE
Manly – 4179
Population: 3,702
An idyllic beach front suburb, Manly is located 19kms east of the Brisbane CBD. The obvious draw of the waterfront and Manly Boat Harbour, home of the Wynnum-Manly Yacht Club and Royal Queensland Yacht Squadron attracts the outdoor types and sea lovers, but the suburb also offers excellent amenity for families. A choice of schools are in close proximity with Wynnum State School right on the border of the suburb, while primary and state schools in neighbouring Manly West provide further options. For commute to the CBD, it’s about a half an hour drive in good conditions, or the centrally located Manly Train Station for public transport.
Homes are the preferred stock in the suburb, with 38 bonds lodged for both three and four bedroom homes in the September quarter of this year. Four bedroom lodgements have remained steady over the last three years, but three bedroom lodgements have dropped from 71 and 69 in 2013-14. Median rents for three bedroom homes are $415, while four bedrooms are $580 per week.
New Farm – 4005
Population: 11,330
One of the oldest suburbs in Brisbane, New Farm is also the densest in terms of population, with an estimated 5,861 people per square metre.
That may seem hardly surprising considering the proximity to the CBD of only a couple of kilometres, views over the Brisbane River, and the vista of the iconic Story Bridge.
The historic Brunswick Street runs through the suburb and leads all the way to picturesque New Farm Park. Here finds one of Brisbane’s most renowned cultural centres, the Brisbane Powerhouse. Formerly the electric tramway power station, the Powerhouse has been converted into a community arts and performance centre.
Units are far and away the most popular option for renters in New Farm, with 297 and 359 bond lodgements made for 1 and 2 bedroom units respectively. This number jumped significantly in the last year, with 214 lodgements made for 1 bedroom and 301 lodgements made for 2 bedroom units. Median rents moved for 1 bedroom units, up $10 to $400 per week, while 2 bedroom units have a median of $500 per week.
Data from the Residential Tenancies Authority
MELBOURNE
Preston – 3072
Population: 29,925
Nine kilometres from the CBD, Preston offers a good level of generally spacious stock on larger block for reasonable value.
Appearing in the National Property Buyers ‘6 Suburbs to Boom in the Next 6 Months’, Preston offers pretty much everything tenants would like to see in a suburb. Close to the CBD, ample public transport, loads of shopping, Northland Shopping Centre, parks, and bike tracks, Preston also borders trendy Thornbury.
Separate houses are the most populous housing types, making up 7,500 of the 11,795 dwelling types. An older suburb, Preston is also a popular option with home buyers, and has a large contingent already owning their homes. Renters take up almost 40% of the population in the suburb according to the 2011 Census.
Tenants will find good value in Preston, with median rents for 3 bedroom homes sitting at $425 per week, up 0.90% on quarterly change. 2 and 3 bedroom units have remained steady on quarterly change at $360 and $440 respectively.
Coburg – 3058
Population: 24,977
Neighbouring Preston to the west is Coburg, which also provides renters with some great options for property.
The suburb is superbly serviced with public transport and cyclist will love the famed Merri Creek Bike Trail. The café set have plenty to choose from along Sydney Road, which runs through the middle of the suburb into Brunswick.
Like Preston, Coburg offers primarily separate housing with over 75% of dwellings and 13% as semi-attached or townhouses.
Median rents in the area have risen 2.10% for 3 bedroom houses, up to $490. 4 bedroom homes remain steady at $593 per week.
2 bedroom units are fetching $361 per week, while 3 bedroom units retrieve $475.
ADELAIDE
Bowden – 5007
Population: 622
A neat little pocket about 3km’s from the Adelaide city centre, Bowden is a popular area for renters. 63% of residents are renters, and they have a breadth of housing types available. A wide variety of housing styles meld together in the suburb, from terraces and character cottages to four bedroom homes and new townhouses populate the area.
Bohemian lifestyle and a strong artistic community has been an attraction and professionals are moving into the area for its choice of cafes and restaurants, proximity to gorgeous park lands and distance to the CBD. Public transport is also abundant in the area, with Bowden, North Adelaide, and Ovingham train station located around the suburb. Jarmer’s Kitchen is a go to café/restaurant and is right next door to the organic markets. That Dapper Market is a major community event famous in the suburb for food stalls, bars, and live music.
Rental amounts are very reasonable for the location of the suburb, with 2 bedroom and 3 bedroom homes attracting $388 and $420 per week respectively. 2 bedroom units will fetch $370 per week according to realestate.com.au
Brompton – 5007
Population: 2,930
Right next door to Bowden is Brompton, larger in size and still offering many of the same draw cards as its smaller neighbour.
With a similar mix of housing styles, Brompton residents enjoy brand new developments along with older character homes. The area is well serviced by public transport, parklands, shopping, cafes and restaurants, and the proximity to schools make it a good option for families as well. Cooper Stadium and the Adelaide Entertainment Centre are within minutes’ walk and its only 4km’s to the CBD.
Free standing homes make up 60% of the dwellings in the suburb, and 2 and 3 bedroom homes attract a median rent of $350 and $420 per week respectively. Units will fetch $380 and $420 per week for 2 and 3 bedroom residences.