Bayswater sits in Melbourne’s east — a suburb that runs suburban, welcoming, family-oriented. Here’s what the numbers and the locals actually say about the property and rental situation.
Rental Prices — Bayswater 2026
| Property Type | Weekly Rent | Monthly | Annual |
|---|---|---|---|
| 1-bedroom unit | $391/wk | $1694/mo | $20,332/yr |
| 2-bedroom unit | $470/wk | $2036/mo | $24,440/yr |
| 3-bedroom house | $675/wk | $2925/mo | $35,100/yr |
Rents in Bayswater have fluctuated slightly compared to 2025. The vacancy rate sits at 1.5%, which is tight — expect competition for good properties.
Property Prices
| Property Type | Median Price | 12-Month Change |
|---|---|---|
| House | $1,084,585 | -0.8% |
| Unit/Apartment | $474,408 | +0.9% |
Gross rental yield: 3.5% (units tend to yield higher than houses in Bayswater).
Who Lives Here
Bayswater attracts a mix of young professionals and established families. The suburb is known for Bayswater local shops, community feel, suburban lifestyle.
Average resident profile:
- Age: Predominantly 25-40
- Household: Couples and young families
- Income: Well above metro average
Renting Tips for Bayswater
Apply fast. Good properties in Bayswater get 20-40 applications. Have your documents ready: 100 points of ID, recent payslips, rental history, references.
Inspect in person. Photos lie. Check water pressure, phone reception, natural light at the time of day you’d actually be home. Open the cupboards. Flush the toilet.
Look beyond Rowan Avenue. The main strip commands 10-15% higher rents. One or two blocks back, you get the same proximity for less money.
Know your rights. Victorian tenancy law caps rent increases to once per 12 months. Your landlord must give 60 days notice. Urgent repairs must be addressed within 24 hours (blocked toilet, no hot water, gas leak).
Budget beyond rent. Factor in: utilities ($150-250/month), internet ($70-90/month), contents insurance ($15-25/month), and transport (Public transport options in Bayswater).
Investment Outlook
Bayswater is an emerging area with infrastructure investment driving gradual growth. The 3.5% gross yield is below the metro average — you’re buying for capital growth here.
Key factors:
- Transport: Public transport options in Bayswater
- Schools: Mix of public schools and nearby private colleges
- Infrastructure: Level crossing removal and station upgrades underway
Suburb Character & Lifestyle
Bayswater runs suburban, welcoming, family-oriented. The main commercial strip along Rowan Avenue is where most of the daily life happens — cafes, restaurants, and essential services within walking distance for those who live close. The neighbourhood is known for Bayswater local shops, community feel, suburban lifestyle, which drives both rental demand and property values.
The housing stock is predominantly post-war homes with newer medium-density developments filling former industrial sites. For renters, the most common options are standalone units behind older houses. For buyers, the entry point is typically a 2-bedroom terrace needing renovation at the lower end of the market.
Transport reality: Public transport options in Bayswater. The commute to the CBD is realistic for daily workers, and most residents report using a combination of public transport, cycling, and driving depending on the trip.
Cost of Living Snapshot
| Expense | Typical Cost |
|---|---|
| Coffee | $4.50-5.00 |
| Brunch | $17-25 |
| Dinner out | $22-38 pp |
| Pint of beer | $11-13 |
| Cocktail | $17-23 |
| Groceries | $138/wk (couple) |
| Utilities | $187/mo (1br) |
| Internet | $70-90/mo (NBN) |
The Bigger Picture
Bayswater is on an upward trajectory with improving infrastructure and growing demand from first-home buyers. The suburb is suburban, welcoming, family-oriented, which attracts investors looking for reliable yield in an improving area.
5-year outlook: Moderate, steady capital growth expected. The fundamentals — location, transport, lifestyle amenity — are strong.
What to watch: Level crossing removal — check council planning portal for details.
Nearby
Last updated: March 2026. Data sources: Domain, REA Group, SQM Research.
Keep Exploring
More in this area:
- Community Guide in Bayswater
- Coworking Guide in Bayswater
- Council Services in Bayswater
- Library Guide in Bayswater
- Playground Guide in Bayswater
Useful tools:

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