Our November Rental Market Review

02 December 2025

November brought another confident month across our rental markets. Well-presented homes continued to lease quickly, with many campaigns wrapped up after just a few opens and some properties placed directly to qualified renters. Pricing remains an important consideration, yet low vacancy and limited high-quality stock are keeping days on market short, particularly in family-focused suburbs and lifestyle locations. Minimum standards, comfort and convenience are at the forefront of renters ' minds, and homes that tick these boxes are attracting strong enquiries and multiple applications.

Boroondara

Boroondara saw a very active month, with our available portfolio leasing swiftly and stock largely cleared by late November. We are now rebuilding our stock levels to meet ongoing enquiries from families and professionals seeking well-located homes. Renters are highly attuned to minimum standards and quality finishes, so properties that present cleanly and feel move-in ready are securing applications quickly and at strong rental levels. Overall, the market is performing well, with solid outcomes for investors who are pricing with recent evidence and staying open to considered lease terms.

Feature property: 16 Cambridge Street, Hawthorn, leased for $1,400 per week, 4 bed, 3 bath, 2 car.

Stonnington

Stonnington’s rental market remains extremely tight, particularly for well-finished apartments and family homes in village-style pockets. Demand is strong across most price points, and vacancy is very low, creating a favourable environment for rental providers. At the same time, high rents and modest yields in some house segments are prompting careful consideration of long-term investment strategy. We are also seeing more owners choosing to lease fully furnished properties, responding to demand from corporate relocations and renters seeking a turnkey home with minimal setup.

Feature property: 22 Llaneast Street, Armadale, leased for $1,900 per week, 3 bed, 2 bath, 2 car.

Bayside

In Bayside, activity is strongest in the $1,500 to $2,000-plus per week range. Newer mid-range apartments are often secured within five days, and in some cases off-market to registered clients who are waiting for the right fit. By contrast, smaller apartments under $800 per week are facing more competition, with renters having greater choice and comparing value closely. With consistent communication, thoughtful feedback and diligent follow-up, we secured four off-market leases within days this month, highlighting the benefit of an engaged leasing strategy.

Feature property: 103/33 Male Street, Brighton, leased off-market at $1,900 per week, 2 bed, 2 bath, 2 car.

Port Phillip

Port Phillip experienced very high demand for quality family homes in November, as many households aimed to settle before the Christmas break. Most properties in popular school and lifestyle pockets leased after the first or second inspection, with a number secured prior to launch by qualified applicants. We are currently working with several families seeking homes in the $1,500 to $2,500-plus per week range, although suitable stock is limited. Enquiry for January and February 2026 arrivals has also begun, with some renters prepared to commit early to secure the right property. Well-presented apartments continued to lease quickly when priced in line with the current market.

Feature property: 16 Greig Street, Albert Park, 4 bed, 2 bath, 2 car.

Mornington Peninsula

On the Mornington Peninsula, rental supply remains very restricted in the most sought-after pockets. Many owners are planning to enjoy their homes across the summer before considering a longer-term lease in the new year, which is placing additional pressure on those hoping to move before the new school term. Enquiry is particularly strong from families relocating to the area, and when a suitable home becomes available, it is attracting multiple applications and very short leasing timeframes. The imbalance between demand and supply is supporting firmer rents and reinforcing the value of professional presentation and clear marketing.

Feature property: 39A Gleneagles Avenue, Mornington, leased for $1,200 per week, 4 bed, 3 bath, 2 car.

Manningham

Manningham’s enquiry is steady as we work toward increasing supply. Well-located homes within key school zones, particularly those offering generous living spaces and low-maintenance gardens are sort after. Where properties are priced thoughtfully and presented to a good standard, they are still securing quality renters within reasonable timeframes. We expect activity to lift as more stock becomes available in the early months of 2026.

Feature property: 109/178 Union Road, Surrey Hills, 2 bed, 2 bath, 1 car.

Projects

The Projects team reported a steady and dependable month, with enquiries from professionals, students and downsizers looking for secure, low-maintenance living. Well-finished apartments with practical layouts, natural light and on-site amenities continue to perform, often securing renters after a short campaign and with minimal vacancy between tenancies. Overall pricing is in line with recent months, and the depth of enquiry suggests ongoing resilience in this sector.

Feature property: 306/585 Burke Road, Camberwell, leased at $795 per week, 2 bed, 2 bath, 2 car.

Overall, November showed sustained demand and generally tight leasing timelines. With summer now starting, we expect ongoing interest in family homes, lifestyle locations, and quality apartments, especially where price, presentation, and convenience align.