Here is a list of ‘Median Prices & Rents by Bedrooms’ for Melbourne. These were last recorded as at September 2018.
Naturally the chart below demonstrates that the price increases as the bedroom accumulate. The greatest increase is when you decide to purchase a 4 bedroom compared to a 3 bedroom. Ultimately on the basis that a 3 bedroom is likely a unit, Apartment or Townhouse while a 4 bedroom property is likely a house.
The median prices also vary significantly based on location. The inner-city area is more expensive, but with good reason, while middle and outer areas provide lower median prices.
The rental yields also decrease as the bedroom includes more bedroom. The rental income would certainly increase, the yield is the total income divided by the property value.
| 1-Bedroom Unit | Sep-18 Median Price | Median Rent | Rental Yield |
| Inner | $389,000 | $380 | 5.1% |
| Middle | $331,000 | $320 | 5.0% |
| Outer | $319,000 | $250 | 4.5% |
| 2-Bedroom Unit | Sep-18 Median Price | Median Rent | Rental Yield |
| Inner | $620,000 | $490 | 4.1% |
| Middle | $567,500 | $399 | 3.7% |
| Outer | $463,000 | $340 | 4.4% |
| 3-Bedroom Unit | Sep-18 Median Price | Median Rent | Rental Yield |
| Inner | $995,000 | $670 | 3.5% |
| Middle | $796,500 | $500 | 3.3% |
| Outer | $600,000 | $400 | 3.9% |
| 4-Bedroom House | Sep-18 Median Price | Median Rent | Rental Yield |
| Inner | $1,950,000 | $850 | 2.3% |
| Middle | $1,200,000 | $555 | 2.4% |
| Outer | $725,000 | $425 | 3.5% |
Source – This information has been collected by the Real Estate Institute of Victoria Ltd (REIV). The most authoritative source for information on the Victorian property market.
December 2018
