Current Rental Report

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

Rental Report statistics – March quarter 2014

The March quarter 2014 Rental Report indicates that the median rent in metropolitan Melbourne has increased slightly and the median rent in regional Victoria has remained steady over the previous quarter.

In the March quarter, the median rent for metropolitan Melbourne increased by $5 to $365 per week and the Melbourne Rent Index (MRI) increased by 0.8%. For the past four quarters the median rent has increased by $5 each quarter. The MRI annual increase of 1.8% is above that of the March quarter last year (1.3%).

In the March quarter, the median rent for regional Victoria remained steady at $270 per week and the Regional Rent Index (RRI) increased by 1.4%. The RRI annual increase of 1.7% is above that of the March quarter last year (0.8%).

The overall median rent for Victoria increased by $10 to $350 per week in the March quarter. The Statewide Rent Index (SRI) increased by 0.9% in the March quarter. The SRI annual increase of 1.8% is also above that of the March quarter last year (1.4%).

Rental trends - March quarter 2014

Median weekly rent Rent index Quarter % change Annual % change
March quarter 2014
Melbourne $365 203.6 0.8% 1.8%
Regional Victoria $270 202.5 1.4% 1.7%
Victoria $350 201.3 0.9% 1.8%

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.

Improving the provision of Rental Data

The Victorian Government through the Department of Human Services is committed to improving the speedy delivery and accuracy of private rental data for use by the community, our community sector agencies and our private sector partners. From the June quarter 2013 the provision of this information will be provided more promptly after the end of the quarter through data sets in excel format. The production of the detailed full report, which delayed prompt distribution of the core data sets will discontinue after the March 2013 quarter.

For further information please contact the Centre for Human Services Research and Evaluation at chsre@dhs.vic.gov.au.

Rental Report time series data

The following spreadsheets provide detailed time series statistics for some key Rental Report data from March quarter 2000 to March quarter 2014.

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