Rental Report statistics – March quarter 2022
The March quarter 2022 Rental Report indicates that over the previous quarter the median rent increased by $10 in both metropolitan Melbourne (to $410 per week) and in regional Victoria (to $390 per week).
The Melbourne Rent Index (MRI) increased by 2.6 per cent in the March quarter, the largest quarterly increase since June 2008. In the twelve months to March 2022, the MRI increased by 4.0 per cent. This annual rate of change is well above that in the twelve months to March 2021 (-7.7%) and well above the long term average annual increase over the past ten years (1.4%).
The Regional Rent Index (RRI) increased by 3.0 per cent in the March quarter. In the twelve months to March 2022, the RRI increased by 10.1 per cent. This annual rate of increase is well above that in the twelve months to March 2021 (6.1%) and well above the long-term average annual increase over the past ten years (3.6%).
Rental trends – March quarter 2022
|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. December 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 June quarter 2000 to March quarter 2022.
Email Social Housing Reform unit: email@example.com
See the Past rental reports page for Rental Reports from 2007 onwards.