Homes Victoria has released its Rental Report for March quarter 2021 (the Report), which provides key statistics on the private rental market in Victoria.
Key statistics from the Report indicate that over the previous quarter the average rent price remained stable in Metropolitan Melbourne at $400 per week and also in regional Victoria at $350 per week.
Metropolitan Melbourne rents decreased by 0.6% in the March quarter, the fourth decrease in consecutive quarters. In the twelve months to March 2021, Metropolitan Melbourne rents decreased by 7.7%.
Regional rents increased by 1.7% in the March quarter. In the twelve months to March 2021, regional rents increased by 6.1%.