Current Rental Report

The Rental Report provides key statistics on the private rental market in Victoria.

Rental Report statistics - March quarter 2017

The March quarter 2017 Rental Report indicates that over the previous quarter the median rent has increased by $10 per week in both Victoria and metropolitan Melbourne while in regional Victoria the median rent has increased by $5 per week.

In the March quarter, the median rent for metropolitan Melbourne increased to $400 per week and the Melbourne Rent Index (MRI) increased by 1.2% over the previous quarter. The MRI annual increase of 3.8% is above that of the March quarter last year (3.3%).

In the March quarter, the median rent for Regional Victoria increased to $290 per week and the Regional Rent Index (RRI) increased by 1.1% over the previous quarter. The RRI annual increase of 2.1% is below that of the March quarter last year (2.3%).

The overall median rent for Victoria has increased to $380 per week in the March quarter and the Statewide Rent Index (SRI) increased by 1.2% over the previous quarter. The SRI annual increase of 3.6% is above that of the March quarter last year (3.2%).

Rental trends - March quarter 2017

Median weekly rent Rent index Quarter % change Annual % change
March quarter 2017
Melbourne $400 222.9 1.2% 3.8%
Regional Victoria $290 216.2 1.1% 2.1%
Victoria $380 219.9 1.2% 3.6%

Notes

  • (i) Median weekly rent is based on all new rental lettings for the quarter
  • (ii) The Rent index is based on median rents stratified by location and dwelling type to control for compositional shifts in new lettings. June quarter 1999 = 100
  • (iii) Quarterly and Annual percentage change is calculated from the relevant Rent Indices, not median weekly rents.

For further information please contact the Modelling and Forecasting unit at rental.report@dhhs.vic.gov.au.

Rental Report

Download the full Rental Report:

Rental Report time series data

The following spread-sheets provide selected charts and tables from the report and detailed time series statistics for some key Rental Report time series data from March quarter 2000 to March quarter 2017.

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