Rents are increasing in in Melbourne, spelling good news for investors of property in Brunswick, Carlton and neighbouring areas.
The latest Rental Report from Australian Property Monitors (APM), released this month, observes market trends during the December quarter.
Median weekly rents increased by 1.4 per cent between the September and December quarter.
The average rent in the city was $375. Not only was this a quarter-on-quarter increase, but also demonstrated a 4.2 per cent increase between December 2012 and December 2013.
While the median weekly rent for units slipped between the third and fourth quarter, figures remained stable year-on-year.
Gross rental yields remained the same between the September and December quarters, with a figure of 4.29 per cent in Melbourne.
Real estate in Brunswick and its surrounding suburbs is popular with a range of tenants and the suburb has a range of fantastic local facilities on its doorstep.
Unit investments showed a quarter-on-quarter increase in gross rental yields, with a figure of 0.2 per cent.
If you're looking to rent or invest in property in Carlton, Brunswick or Pascoe Vale, get in touch with Ray White Brunswick today.