According to the Domain Rent Report, the median weekly asking rents for detached houses and units in Melbourne were A$440 and A$400, respectively, up 2.3% and 4.8% year-on-year.
In the Glenelg area on the border of South Australia, the asking rent for a single house was $350 in the September quarter, an increase of 16.7% year-on-year. The second largest increase was in Moyne in the east, which rose by 13.6%, and the asking rent came to $375. Domain senior research analyst Nicola Powell said: “The increase in rents is related to the relaxation of restrictions in Victoria’s rural areas and is not as strict as Melbourne.” The asking prices in Surf Coast and Macedon Ranges are higher than in Melbourne, at $500 and respectively. $460. However, the growth rates of these two areas are very low, Surf Coast has basically remained unchanged, and Macedon Ranges rents have only increased by 2.2%.
