Two bedroom rentals for under $500 a week

Larissa Gardner
5 min read

Are you tired of not having enough space in your one bedroom rental for a study, home gym, extra storage or even a guest room? Now could be the ideal time to search for a bigger place.

Core Logic’s August 2016 Rent Review revealed the combined capital city median rents were $481 per week, the lowest rate since November 2014. According to research analyst Cameron Kusher, renting is now a whole lot cheaper for Australians.

Last year Kusher told landlords have little wiggle room to raise rents ‘with construction activity set to peak over the next 24 months, and with many new properties still to settle, there is a real possibility that rental rates with fall over coming months.’

‘For renters, it potentially means more surety in securing accommodation and the potential to upgrade into a higher level of accommodation for a similar cost,’ Kusher says.

Finding an affordable apartment or unit with a decent sized second bedroom can be a bit of a challenge when you’re wanting to live close to the CBD and all its lifestyle perks. But with rental rates predicted to hold steady or even decline over the next 12 months, now might be the perfect time to upsize your rental.

Perhaps you’re looking to split the costs with a housemate, move in with your significant other or just upsize from your current one-bedroom flat, here are 10 of the best two-bedroom rentals for less than $500 a week within 15km of different Australian capitals.


For rent: 4/4 Wakefield Street, Alderley, QLD

Cost- $450/week

Details- Uninterrupted city views, two bathrooms, a car space with storage included, laundry facilities, a dishwasher, spacious balcony, lobby intercom system and air conditioning make this large apartment a steal. Only 4.5km from the CBD, everything is right on your doorstep including parks, Newmarket Pool, shops and public transport.

For rent: 3/58 Sisley Street, St Lucia, QLD

Cost- $480

Details- 6km from Brisbane CBD, this sophisticated apartment comes with two secure carparks, open plan living, an enclosed balcony, air conditioning and access to the communal pool and BBQ area. Running errands would be a breeze with local shops and Guyatt Park ferry terminal within walking distance.


For rent: 32/53-59 Helen Street, Lane Cove, NSW

Cost- $500/week

Details- In a city where the median cost of rent is $593 per week unfortunately it’s pretty slim pickings when you’re searching for a two bedroom apartment close to the CBD for under $500 per week. This two bedroom Lane Cove unit is just about as good as it gets. 10km from Sydney’s CBD, the apartment features an internal laundry, an undercover parking space, built in robes in both bedrooms and a sunny balcony. Best of all the apartment complex has a games room and large outdoor swimming pool.


For rent: 306/242 Glen Huntly Road, Elsternwick, VIC

Cost- $465

Details- Just under 10km outside Melbourne, this contemporary ‘mini-penthouse’ has a balcony with bay views, an elevator entrance, an intercom system, 1.5 bathrooms, a Euro laundry and one car space. Enjoy all Elsternwick has to offer with shops, cafes, restaurants and a cinema only a stroll away.

For rent: 2/4 Holberg Street, Moonee Ponds, VIC

Cost- $480/week

Details- Conveniently 6km north of the CBD and close to Mount Alexander Road shops and restaurants, this charming townhouse offers great bang for your buck. Highlights include the private tranquil courtyard, tiled living areas, a study nook, separate laundry, under stair storage and a single lock up garage.

For rent: 5/133 Maud Street, Balwyn North, VIC

Cost- $430/week

Details- 12km from the city, this adorable recently renovated apartment gives you the very best of inner suburb living with access to trams and The Village shops and cafes. The home features two spacious bedrooms, a huge entertaining deck, bright living and dining areas, and a car space. Perfect!


For rent: 14 Bridge Street, Kensington, SA

Cost- $440/week

Details- Just 5km from the CBD and strolling distance to The Parade shops and cafes, this beautifully renovated maisonette has everything you could ever need in a cosy inner city home. Housed in a charming building but featuring modern upgrades, the house includes polished timber floors, a decorative fireplace, renovated kitchen and bathroom, a Euro laundry, car port and low maintenance gardens.


For rent: 6/36 King William Street, Bayswater, WA

Cost- $320/week

Details- 7km from Perth’s CBD, this airy two bedroom home offers excellent value for money. With timber flooring, sprawling open plan living, soaring vaulted ceilings, a car space, a dishwasher and two easy-care courtyards, this unit is a very neat and appealing package.

For rent: 16/11 Altona Street, West Perth, WA

Cost- $480/week

Details- This luxury fully furnished high-rise apartment is only 3km from central Perth. Drawcards include the heavenly views, remote controlled blinds, marble benchtops, two bathrooms, laundry facilities, intercom security system, timber floors, a car park with storage, ducted AC and a large balcony.


For rent: 3 Lipscombe Avenue, Sandy Bay, TAS

Cost- $390/ week

Details- Only 4km from the heart of Hobart and two minutes drive to Sandy Bay shops, this sweet home is the perfect option for a renter looking to break away from compact apartment living. The quaint house has a big backyard (great for those with pets), carport, polished timber floorboards and an entertaining deck.

For more advice for renters take a look at how to ace your rental application, five steps to negotiate lower rent and six damage free decor ideas for renters.

Happy house hunting!

The Team

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Larissa Gardner
Larissa Gardner is the Marketing Manager at arguably Australia’s best looking real estate website With a superb devotion to product innovation, user-centred design and innovative marketing platforms for real estate agents, helps millions of Australians find their next home.

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1 comment


Please keep me connected, re sale and rent properties… Particularly sunshine coast/ NSW coastal areas.. Thankyou

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