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 November 2024, based on how the local Melbourne market performed in October 2024.
October 2024 Summary
Nightly Rates increased in October 2024 by 1.84% to $233.76, and hosts saw higher occupancy rates at 61.41% across 22,297 listings.
Hosts averaged $1,041.24 per week, yielding 1.77x the annualised average of $589.00 for long-term rentals in Melbourne.
| Metric | October 2024 | September 2024 | Difference | Change |
|---|---|---|---|---|
Market Revenue | $99,515,592.43 | $79,124,541.84 | $20,391,050.59 | +25.77% |
Monthly Revenue | $4,463.13 | $3,624.54 | $838.59 | +23.14% |
Nightly Rate | $233.76 | $229.55 | $4.22 | +1.84% |
Occupancy Rate | 61.41% | 50.79% | 10.62% | +20.91% |
Weekly Revenue | $1,041.24 | $845.34 | $195.89 | +23.17% |
Yearly Revenue | $54,296.69 | $44,096.64 | $10,200.05 | +23.13% |
Listings & Hosts
| Metric | October 2024 | September 2024 | Difference | Change |
|---|---|---|---|---|
Entire Homes | 18,310 | 17,950 | 360 | +2.01% |
Hosts | 9,729 | 9,732 | -3 | -0.03% |
Hotel Rooms | 58 | 62 | -4 | -6.25% |
Listings | 22,297 | 21,830 | 467 | +2.14% |
Private Rooms | 3,795 | 3,705 | 91 | +2.45% |
Shared Rooms | 134 | 114 | 20 | +17.80% |