What are renters looking for as Melbourne moves towards the end of the year? October’s leasing activity suggests the answer is becoming more specific. Family-friendly layouts, sought-after school zones and homes that offer genuine value are influencing decisions, while conditions vary considerably between locations and property types. From tightly held Peninsula rentals to greater competition among premium apartments, our Property Management team examines the local trends shaping results and what they mean for rental providers.
Property ManagementProperty Management Market Review – October 2026
Next ArticleProperty Management Market Review – October 2026
06 November 2026
Stonnington
Stonnington’s apartment market continued to perform well through October, alongside ongoing interest in family homes. Yet renters are approaching decisions with a sharper focus on what a property offers for its asking rent, considering location, condition and everyday liveability alongside price. Some segments have experienced an easing in rental expectations, making it especially important to assess comparable properties before launching a campaign. Homes that present well and reflect current market conditions are still securing positive results, demonstrating that demand remains present even as renters become more discerning.
Feature property: 9 Hawksburn Road, South Yarra, leased off market for $3,500 per week.
Boroondara
Boroondara’s new business team recorded 14 leases in October, with weekly rents ranging from $675 to $2,200. Behind those results was an increasingly tailored approach to connecting properties with suitable renters. Established relationships and an active applicant database are helping the team identify opportunities beyond traditional advertising and scheduled inspections. One Kew property illustrates the value of this approach: after a sales campaign did not deliver the owner’s preferred outcome, the team identified a qualified renter and helped the client confidently pursue leasing instead. It is a reminder that a successful property strategy can evolve with an owner’s circumstances, and that knowing the available options can be just as important as knowing the market.
Feature property: G01/5 Rockingham Street, Kew, leased for $1,800 per week.
Bayside
Brighton’s rental market remained relatively stable in October, with the strongest enquiry directed towards well-presented family homes and premium residences in desirable locations. Overall leasing timeframes have held steady, although a gradual increase in available stock is giving prospective renters more properties to compare. Functionality and presentation are carrying greater weight in these decisions, particularly where homes are competing within the same price bracket. For owners, the distinction is increasingly between properties that make a compelling case for their asking rent and those that require a longer campaign to find the right match.
Feature property: 2B Connor Street, Brighton East, leased for $1,600 per week.
Port Phillip
Spring brought renewed momentum to Port Phillip’s rental market throughout October, with a noticeable increase in enquiries and attendance at property inspections. While prospective renters continue to consider their budgets carefully before committing at the advertised rent, the team has secured several successful off-market transactions in recent weeks. With some renters keen to settle their plans before the end-of-year rush, established relationships and early conversations are helping connect suitable applicants with properties at the right time.
Feature property: 14 Southward Avenue, Port Melbourne, leased for $1,600 per week following its first inspection.
Mornington Peninsula
The Mornington Peninsula continued to benefit from demand exceeding available rental supply in October, supporting rental levels, healthy enquiry and shorter campaign timeframes. Beyond location, renters are signalling exactly what they value in a home: second bathrooms, separate living areas and secure, fully fenced backyards are among the features most frequently requested. These practical considerations offer useful guidance for owners preparing a property for lease, particularly those looking to appeal to families. With spring weather drawing visitors to the region’s beaches, walking trails and events, the Peninsula’s lifestyle appeal remains an important part of the broader picture.
Feature property: 26 Marcus Street, Dromana, leased for $1,600 per week, offering four bedrooms, two bathrooms and two car spaces.
Projects
The market for brand-new apartments and developments remained selective in October, with demand strongest for apartments below $800 per week. Premium properties are benefiting from a more targeted approach that considers the specific requirements of prospective renters. The team also observed increased interest in higher-end listings from renters seeking homes within particular school zones ahead of the next academic year. These trends highlight why understanding the audience for each apartment, alongside a considered pricing and marketing strategy, can help connect a property with the right renter.
Feature property: 211/649 Victoria Street, Abbotsford, leased for $1,050 per week, offering two bedrooms, two bathrooms and two car spaces.
Across October, one theme stands out: renters are not simply looking for a property, but for the right combination of location, features and value. The factors driving a successful lease differ from one market to the next, which is why local insight, informed pricing and the ability to connect with suitable applicants remain so important. Whether you are preparing to lease, reviewing your investment or considering a change in strategy, our Property Management team can help you understand the opportunities in your area.
