For the June quarter 2020
The June quarter 2020 Rental Report indicates that over the previous quarter the median weekly rent decreased by $30 in metropolitan Melbourne to $400 and in regional Victoria by $10 to $330.
The Melbourne Rent Index (MRI) decreased by 5.2 per cent in the June quarter, the largest decrease since this series began in June 1999. In the 12 months to June 2020, the MRI decreased by 4.0 per cent, the only decrease since this series began. This annual rate of change is the below that in the 12 months to June 2019 (1.8%) and below the long term average annual increase over the past 10 years (2.6%).
The Regional Rent Index (RRI) decreased by 0.6 per cent in the June quarter. In the 12 months to June 2020, the RRI increased by 2.8 per cent. This annual rate of increase is below that in the 12 months to June 2019 (5.4%) and below the long-term average annual increase (3.3%).
Rental trends – June quarter 2020
|Median weekly rent||Median weekly rent||Rent index||Quarter % change||Annual % change|
- Median weekly rent is based on all new rental lettings for the quarter
- The rent index is based on median rents stratified by location and dwelling type to control for compositional shifts in new lettings. September quarter 1999 = 100
- Quarterly and annual percentage change is calculated from the relevant rent indices, not median weekly rents.
Rental Report time series data
The following spreadsheets 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 June quarter 2020.