International searches go nuts for rentals across Melbourne, Docklands and inner city limits

Melbourne inner city markets hardest hit by Covid-19 are the most in-demand with international homeseekers looking for a rental, in a positive sign for investors.

The number of foreign residents looking for a Victorian rental property increased 40 per cent in the March quarter compared to 12 months earlier, figures show.

Melbourne, Docklands and Southbank — the worst affected property markets by the pandemic — are joined by Carlton as the most searched suburbs by offshore rental seekers.

The median unit rent in Melbourne postcode 3000 has risen 13 per cent year-on-year to $450, according to, as demand returns post-lockdown.

International real estate company Juwai IQI co-founder Daniel Ho said many of the 150,000 student visa holders stuck outside Australia during the pandemic could now return.

“They will add significant heat to rental markets in their most popular suburbs by the end of the year,” Mr Ho said.

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