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

For the March quarter 2019

The March quarter 2019 Rental Report indicates that over the previous quarter the median weekly rent increased by $10 to $430 in metropolitan Melbourne and increased by $10 to $320 in regional Victoria.

The Melbourne Rent Index (MRI) increased by 0.7 per cent in the March quarter. In the twelve months to March 2019, the MRI increased by 1.8 per cent. This annual rate of increase is below that in the twelve months to March 2018 (4.2%) and below the long term average annual increase over the past ten years (3.1%). 

The Regional Rent Index (RRI) increased by 1.9 per cent in the March quarter. In the twelve months to March 2019, the RRI increased by 5.6 per cent. This annual rate of increase is above that in the twelve months to March 2018 (3.2%) and above the long-term average annual increase (3.6%).

Rental trends - March quarter 2019

Median weekly rent Median weekly rent Rent index Quarter % change Annual % change
Melbourne $430 236.5 0.7% 1.8%
Regional Victoria $320 235.6 1.9% 5.6%
Victoria $410 234.1 0.9% 2.3%

Notes

  • 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 September quarter 2017.

More information

Email Modelling and forecasting unit

See the Past rental reports page for Rental Reports from 2007.