Save on rent in Melbourne’s ‘bridesmaid’ suburbs

Date: 3 Dec 18

The latest data from the Real Estate Institute of Victoria (REIV) reveals that you can save
hundreds of dollars a week by renting a property in a neighbouring suburb.

REIV President Robyn Waters said the neighbouring suburbs with the largest differential in
their rent was Black Rock and Cheltenham.

“Savvy families and singles can save up to $470 a week renting in neighbouring ‘bridesmaid’
suburbs,” Ms Waters said.

“For example, the median weekly rent in exclusive Black Rock is $1000 while you can rent a
home for almost half that amount in adjacent Cheltenham at $530.

“The REIV’s data shows that you don’t need to compromise proximity to the city, convenient
transport options, access to amenities including shopping centres and strips, parks and
health care facilities to stay within your weekly budget.”

REIV rental data for the 12 months to September 2018 reveals that people renting in Toorak,
where the median rent is $1100, can save $410 a week by moving to nearby South Yarra,
$408 per week if they shift to Prahran or $405 per week by instead renting a home in

Other adjacent suburbs that have large disparities in their median rents include Parkville and
Flemington where the weekly rent is $903 and $520 respectively, Canterbury and Surrey
Hills with a $363 gap and Glen Waverley and Notting Hill with rents of $515 compared with

“At a time when the cost of living is biting many families and we are all looking at ways to
save a dollar, renting in a bridesmaid suburb could be a viable option to improve your bottom
line,” Ms Waters said.

Media contact:
Chanelle Pearson 0402 241 621