Young Australians dominate rental market in Victoria
The average Melbourne renter is in their early thirties, according to statistics from the Real ...
The average Melbourne renter is in their early thirties, according to statistics from the Real Estate Institute of Victoria (REIV).
There are no suburbs where the average age of renters is above 40, and only a handful where the average is between 35 and 39.
This could indicate that the average first time buyer is living in a rental property and saving before taking on a mortgage.
The suburbs with a higher average age are typically those with higher rental and living costs around the CBD such as Port Melbourne, Albert Park and Middle Park.
Places like Toorak and Canterbury, with their high median rental costs, have older renters.
Exceptions are found in the inner city near Monash University, with students occupying rental properties in Clayton, Huntingdale, Oakleigh East and Notting Hill.
The average age of renters in outer growth suburbs like Derrimut and Doreen is 26, to which the REIV credits the lower housing costs in those areas.
As well as being an interesting note for renters, these statistics could benefit property investors looking to see who would be likely tenants for their properties.