Property Management Market Review - April

07 May 2026

April's rental landscape across Melbourne and Bayside continued to favour well-prepared rental providers, with limited stock, strong renter demand and quality homes attracting early applications. Here is what our Property Management team observed across our key markets this month.

Stonnington

Strong renter demand remained consistent across Stonnington in April, particularly in Armadale, Toorak, Malvern and Prahran, with well-presented properties continuing to lease quickly. Days on market remain low, with most quality homes and apartments securing renters within 7 to 14 days, often with multiple applications. Rental prices are holding firm, with stable to slight upward pressure evident across renovated homes and larger family residences. Apartments are performing well, particularly one and two-bedroom properties close to transport and lifestyle hubs, while houses and townhouses are attracting strong competition from families relocating within the inner southeast. Low vacancy rates continue to support conditions for rental providers, with renters acting quickly. Presentation remains a key differentiator, with styled, well-marketed properties outperforming significantly.

Feature property: 6/81 Hawksburn Road, South Yarra, leased for $2,500 per week.

Boroondara

April delivered a solid month of leasing activity across Boroondara, with results spanning a broad price range from one-bedroom apartments in Hawthorn East at $450 per week through to a four-bedroom family home with a pool in Camberwell at $1,500 per week. Family demand continues to drive enquiry, with renters prioritising quality homes in close proximity to well-regarded schools. Inspection volumes softened slightly throughout the month, influenced by the school holidays and the Easter break, though well-presented properties in strong locations continued to attract high-quality applications.

Feature property: 50 Fairview Avenue, Camberwell, leased for $1,500 per week.

Port Phillip

Port Phillip maintained strong momentum through April, with high demand for quality family homes and well-located apartments across the municipality. Stock levels remain greatly limited, increasing urgency among prospective renters looking to secure their next home. Our database of qualified renters remains active and highly engaged, with strong demand across a broad price range. Most listings are leasing after the first or second inspection, reflecting the quality of enquiry and the competitive nature of the current market. Well-priced, well-presented homes continue to attract early applications, with renters prioritising lifestyle, proximity and security.

Feature property: 8 Dinsdale Street, Albert Park, offering two bedrooms, one bathroom, one car space.

Bayside

Demand for family homes across Bayside remained strong, with well-presented properties continuing to attract solid enquiries throughout April. However, there has been a noticeable increase in days on market, with leasing campaigns taking slightly longer than usual to secure renters. This suggests a more considered approach from renters, weighing options carefully despite ongoing demand across the area. Properties that are well-priced, well- presented and positioned in desirable locations are still achieving strong results, with quality homes continuing to stand out in a market that rewards attention to detail.

Feature property: 46A Lynch Crescent, Brighton, leased at $1,980 per week with just six days on market.

Projects

The Projects team continued to see strong activity in April, with demand particularly concentrated at the more accessible end of the price range. Properties listed below $600 per week are leasing rapidly, with one recent apartment listed at $515 per week attracting 23 groups at its first inspection. Premium listings are taking longer to secure renters, often requiring pricing adjustments over a four-week campaign. A standout result this quarter was an off-market leasing outcome facilitated through our internal project network, matching a purchaser awaiting settlement on an off-the-plan development with a recently settled townhouse in our existing portfolio. The result was a seamless, cost-effective transaction that delivered certainty for both the rental provider and the renter, demonstrating the value of our buyer network in creating opportunities beyond the open market.

Feature property: 101/6 Sydney Street, Prahran, leased for $2,395 per week.