The rental report for the March quarter 2018 indicates that, over the previous quarter, the median rent increased in both metropolitan Melbourne and regional Victoria.
In the March quarter, the median rent for metropolitan Melbourne increased by $15 to $420 per week. The Melbourne Rent Index (MRI) increased by 0.9 per cent over the previous quarter. The MRI annual increase of 4.2 per cent is above that of the March quarter last year (3.8 per cent).
In the December quarter, the median rent for Regional Victoria increased by $10 to $290 per week. The Regional Rent Index (RRI) increased by 0.8 per cent over the previous quarter. The RRI annual increase of 2.6 per cent is below that of the December quarter last year (2.8 per cent).
The overall median rent for Victoria has increased by $10 to $400 per week in the March quarter, the Statewide Rent Index (SRI) increased by 1.1 per cent over the previous quarter. The SRI annual increase of 4.1 per cent is above that of the March quarter last year (3.6 per cent).
Rental trends - March quarter 2018
|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 September quarter 2017.