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Are you renting in Glen Eira?

July 29, 2010

In the past year, rents have continued to rise around the whole of Melbourne – Glen Eira included. Recent property data shows that tenants are paying 8.4% more for a 3 bedroom home than they were formerly. This makes an average rental $450 per week. Other average rentals:

  • Carnegie has risen 7.1%
  • Elsternwick has increased 7.5%
  • Caulfield rentals are up 9.6%

Although this may be good if you are a landlord or a speculative investor, the Housing Department is less excited about these figures. According to the Caulfield Leader, Opposition Spokesperson Wendy Lovell has said that Glen Eira was now an unaffordable rental option for low-income families. She suggests that more should be done by the state government to provide low-income housing. Perhaps a private-public enterprise similar to the new development on Rathdowne Street in Carlton could be useful in our neighbourhood?

*Stockdale and Leggo Elsternwick has gathered this information to provide an interesting document for readers and subscribers. Information contained herein is gathered from a range of sources including but not limited to; local Victorian press both virtual and hardcopy, Valuer General Information & Agents own investigations. All efforts are made to verify the information provided. The information is not to be relied upon or used in dealings with third parties and people should make their own investigations regarding their own property or personal circumstances. Opinions and observations offered should not be treated as fact.

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