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.

March 2024 Summary

Nightly Rates decreased in March 2024 by -6.85% to $264.57, and hosts saw lower occupancy rates at 61.91% across 23,119 listings.

Hosts averaged $1,213.38 per week, coming in at 3x the average of $480.00 for long-term rentals.

Long-Term Rent: PropTrack (May 2023)

Performance

MetricMarch 2024February 2024DifferenceChange
Market Revenue
$120,228,755.01
$136,479,346.15
-$16,250,591.14
-11.91%
Monthly Revenue
$5,200.34
$6,035.71
-$835.38
-13.84%
Nightly Rate
$264.57
$284.01
-$19.44
-6.85%
Occupancy Rate
61.91%
66.94%
-5.02%
-7.51%
Weekly Revenue
$1,213.38
$1,408.05
-$194.67
-13.83%
Yearly Revenue
$63,269.64
$73,429.33
-$10,159.69
-13.84%

Listings & Hosts

MetricMarch 2024February 2024DifferenceChange
Entire Homes
19,151
18,920
232
+1.22%
Hosts
10,269
10,158
112
+1.10%
Hotel Rooms
66
56
10
+18.64%
Listings
23,119
22,612
507
+2.24%
Private Rooms
3,728
3,485
243
+6.97%
Shared Rooms
174
151
23
+15.00%
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 March 2024 at 1:00 am.