Current Rental Report

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

Rental Report statistics - March quarter 2016

The March quarter 2016 Rental Report indicates that over the previous quarter the median rent has increased by $10 per week in metropolitan Melbourne and Victoria and, has remained steady in regional Victoria.

In the March quarter, the median rent for metropolitan Melbourne increased to $390 per week and the Melbourne Rent Index (MRI) increased by 1.2% over the previous quarter. The MRI annual increase of 3.3% is above that of the March quarter last year (2.1%).

In the March quarter, the median rent for Regional Victoria remained steady at $280 per week and the Regional Rent Index (RRI) increased by 1.8% over the previous quarter. The RRI annual increase of 2.3% is just above that of the March quarter last year (2.2%).

The overall median rent for Victoria increased by $10 to $370 per week in the March quarter and the Statewide Rent Index (SRI) increased by 1.3% over the previous quarter. The SRI annual increase of 3.2% is above that of the March quarter last year (2.2%).

Rental trends – March quarter 2016

Median weekly rent Rent index Quarter % change Annual % change
March quarter 2016
Melbourne $390 214.7 1.2% 3.3%
Regional Victoria $280 211.8 1.8% 2.3%
Victoria $370 212.2 1.3% 3.2%

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 Centre for Human Services Research and Evaluation at chsre@dhs.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 2016.

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