# Melbourne Rental Market — Essendon 3040
Last updated: 3 April 2026, 12:46 AEDT
Next update: 3 May 2026 (monthly)

## Your Property Profile
- **Location:** Essendon 3040
- **Type:** 4-bedroom, 2.5-bathroom townhouse
- **Features:** Double lockup garage, close to train (4 stops to CBD), near brunch cafes and supermarket

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## 📊 Current Market Snapshot (April 2026)

### Essendon 3040 — 4-Bedroom Townhouses

**Sample size:** 7 active listings (Domain, 3 April 2026)

| Address | Beds | Baths | Parking | $/week | Notes |
|---|---|---|---|---|---|
| 109 Rose Street, Essendon | 4 | 2 | 3 | **$1,200** | New listing |
| 23 Tasman Ave, Strathmore Heights | 4 | 4 | 2 | **$1,300** | New, 4 baths (premium) |
| 2/28 Haldane Road, Niddrie | 4 | 3 | 2 | **$1,150** | Updated listing |
| 6/25 Downs Street, Pascoe Vale | 4 | 3 | 2 | **$950** | Nearby suburb |
| 2/526 Pascoe Vale Road, Pascoe Vale | 4 | 2 | 2 | **$950** | Nearby suburb |
| 3/526 Pascoe Vale Road, Pascoe Vale | 4 | 2 | 2 | **$900** | Nearby suburb |
| 1/22 McNamara Ave, Airport West | 4 | 3 | 1 | **$790** | Nearby suburb, only 1 parking |

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## Market Analysis

### Rental Range
- **Low:** $790/week (Airport West, 1 parking)
- **High:** $1,300/week (Strathmore Heights, 4 baths)
- **Median:** $950/week
- **Mean:** $1,034/week

### Your Target Profile Match
Filtering for properties most similar to yours (4bed, 2-3bath, 2+ parking, Essendon 3040):

| Address | $/week | Match Score |
|---|---|---|
| 109 Rose Street, Essendon | $1,200 | ⭐⭐⭐⭐⭐ Exact match |
| 2/28 Haldane Road, Niddrie | $1,150 | ⭐⭐⭐⭐ Close match (Niddrie) |
| 6/25 Downs Street, Pascoe Vale | $950 | ⭐⭐⭐ Nearby suburb |

**Estimated market rate for your property:** **$1,100-$1,200/week**

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## 🎯 Verdict: Are You Paying Too Much?

### Your Current Rent
**[INPUT NEEDED]** — What are you currently paying?

Once you provide this, Oliver will calculate:
- % above/below market median
- $ difference vs comparable properties
- Savings opportunity (if underpaying)
- Overpayment amount (if overpaying)

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## Rental Market Trends (Essendon 3040)

### Historical Data (realestate.com.au)
- **Median house rent:** $790/week (12-month average, +7% YoY)
- **Median unit rent (Essendon West):** $730/week (+11% YoY)
- **Rental demand:** Moderate to high
- **Vacancy rate:** Low (competitive market)

### Key Insights
1. **Essendon 3040 is expensive** — premium for proximity to CBD (4 stops)
2. **Parking matters** — 1 space vs 2+ changes price by $100-200/week
3. **Bathroom count drives premium** — 3-4 baths fetch $1,150-$1,300
4. **Nearby suburbs cheaper** — Pascoe Vale/Airport West: $790-950/week (15-20% less)

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## Comparable Suburbs (If Considering Move)

| Suburb | Distance to CBD | 4-bed Townhouse Range | Savings vs Essendon |
|---|---|---|---|
| **Essendon** | 4 stops (train) | $1,100-$1,300/week | Baseline |
| **Pascoe Vale** | Similar | $900-$950/week | Save $150-350/week |
| **Airport West** | Slightly further | $790-$850/week | Save $250-450/week |
| **Niddrie** | Similar | $1,000-$1,150/week | Save $50-200/week |
| **Strathmore Heights** | Slightly closer | $1,200-$1,400/week | Pay $100-300 more/week |

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## Monthly Rent Tracker

### April 2026
- Listings: 7 active
- Median: $950/week
- Range: $790-$1,300/week

### [Previous months will populate here after monthly updates]

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## Action Items

1. **[NEEDED]** Confirm your current rent payment
2. **[DECISION]** If overpaying by >10%, consider:
   - Negotiating rent reduction with landlord
   - Searching for comparable property at lower rate
   - Moving to nearby suburb (Pascoe Vale) for 15-20% savings
3. **[MONTHLY]** Oliver will track this market and alert if:
   - Your relative position worsens (market drops, you stay same)
   - Comparable properties list at significantly lower rates
   - Better value appears in nearby suburbs

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## Data Sources
- Domain.com.au (Essendon 3040, 4-bed townhouses, 3 April 2026)
- Realestate.com.au (median rent data, 12-month trailing)
- Property.com.au (verification)

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*Next update: 3 May 2026 (monthly automatic refresh)*