Melbourne house and unit rents at record highs of $600 a week
Melbourne rental prices for both houses and units have hit record highs of $600 per week. While rent growth has stalled over the last quarter, low vacancy rates continue to fuel competition in a market still heavily favoring landlords.
Why it matters
High rental costs and low availability are creating significant financial pressure for tenants in Australia's major urban centers.
Property News Victoria residential property ‘I’ve been applying for everything’: Melbourne rents at record highs Melissa Heagney-Bayliss October 8, 2026 — 5:00am
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Share A A A Melbourne unit rents are at a record high, jumping $25 a week over the past year and adding more pressure to tenants desperate to find an affordable home.
The median asking rent for a Melbourne unit was $600 a week in the September quarter, and the typical house costs the same after rising $20 a week over the past year, Domain’s latest Rent Report, released on Thursday, showed.
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