Melbourne median rent sits at $400 a week: REIV

Melbourne median rent sits at $400 a week: REIV
Melbourne median rent sits at $400 a week: REIV

Vacant residential space in Melbourne and regional Victoria has been relatively flat over the past four months, with vacancy rates stable at 2.9% and 2.4% respectively.

The median rent for houses in Herron Todd White also remained flat over the month at $400 while rents in regional Victoria were up 1.7% to $295 a week, according to the REIV.

 

  Vacancy Rate median rent
  Sep 2015 Aug 2015 Sep 2015 Aug 2015
METRO 2.9 2.9 $400 $400
REGIONAL 2.4 2.4 $295 $290

 

 

The following table provides a summary of median prices and rents for the 12 months ending June 2015.

Region Gross Rental Yield median rent Median Price
Inner 3.1% $490 $825,000
Middle 2.9% $350 $633,500
Outer 3.8% $300 $410,000
Metro 3.0% $410 $710,750
Regional 5.3% $250 $247,500

 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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Vacancy Rates Median Rent

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