Capital Markets

Melbourne Market Report

Discover Melbourne's unique charm with short-term rentals, perfect for exploring laneways, coffee culture, and sports.

Melbourne City Profile

Melbourne is a vibrant, cosmopolitan city famous for its quirks and unique character. The city is known for its vibrant laneways, thriving coffee culture, sport and unpredictable weather. Short-term rental properties in Melbourne are particularly popular with tourists who are looking for affordable accomodation and having the opportunity to experience the city like a local.

Our Capital Markets reports aim to provide a transparent view of the short-term rental market in Melbourne on a month-to-month basis. We take in large sets of data and translate it into actionable insights for hosts, free of charge.

This report offers insight into the market conditions for October 2024, based on how the local Melbourne market performed in September 2024.

September 2024 Summary

Nightly Rates decreased in September 2024 by -5.31% to $229.55, and hosts saw lower occupancy rates at 50.79% across 21,830 listings.

Hosts averaged $845.34 per week, yielding 1.44x the annualised average of $589.00 for long-term rentals in Melbourne.

Long-Term Rent: CoreLogic (April 2024)

Performance

MetricSeptember 2024August 2024DifferenceChange
Market Revenue
$79,124,541.84
$89,351,595.62
-$10,227,053.78
-11.45%
Monthly Revenue
$3,624.54
$4,155.29
-$530.75
-12.77%
Nightly Rate
$229.55
$242.41
-$12.87
-5.31%
Occupancy Rate
50.79%
55.14%
-4.35%
-7.89%
Weekly Revenue
$845.34
$969.82
-$124.49
-12.84%
Yearly Revenue
$44,096.64
$50,560.21
-$6,463.57
-12.78%
6 total (showing 1 - 6)

Listings & Hosts

MetricSeptember 2024August 2024DifferenceChange
Entire Homes
17,950
17,586
364
+2.07%
Hosts
9,732
9,608
124
+1.30%
Hotel Rooms
62
61
1
+1.59%
Listings
21,830
21,503
327
+1.52%
Private Rooms
3,705
3,724
-19
-0.52%
Shared Rooms
114
132
-18
-13.87%
6 total (showing 1 - 6)
Cosmo does not provide financial, legal or accounting advice. All estimates are based on past performance of nearby listings, but are not guaranteed to be accurate or reliable. Actual performance may vary. Updated 15 October 2024 at 1:01 am.