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 metropolitan Melbourne 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 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.
