Current Rental Report

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

Rental Report statistics – December quarter 2014

The December quarter 2014 Rental Report indicates that the median rent in both metropolitan Melbourne has increased and regional Victoria has increased slightly over the September quarter.

In the December quarter, the median rent for metropolitan Melbourne increased by $5 to $370 per week and the Melbourne Rent Index (MRI) increased by 0.3%. The MRI annual increase of 1.9% is below that of the December quarter last year (2.4%).

In the September quarter, the median rent for regional Victoria increased by $5 to $275 per week and the Regional Rent Index (RRI) increased by 0.1% this quarter, due to rounding, no percentage increase was registered. The RRI annual increase of 1.2% is below that of the December quarter last year (2.0%).

The overall median rent for Victoria remained steady at $350 per week in the December quarter. The Statewide Rent Index (SRI) increased by 0.13% in the December quarter. The SRI annual increase of 1.8% is below that of the December quarter last year (2.4%).

Rental trends - December quarter 2014

Median weekly rent Rent index Quarter % change Annual % change
December quarter 2014
Melbourne $370 205.9 0.3% 1.9%
Regional Victoria $275 202.3 0.0% 1.2%
Victoria $350 203.2 0.3% 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 December quarter 2014.

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