Phase contrast MRI (PC‐MRI) is an established technique for measuring blood flow velocities in vivo. Although spoiled gradient recalled echo (GRE) PC‐MRI is the most widely used pulse sequence today, balanced steady state free precession (SSFP) PC‐MRI has been shown to produce accurate velocity estimates with superior SNR efficiency. We propose a referenceless approach to flow imaging that exploits the intrinsic refocusing property of balanced SSFP, and achieves up to a 50% reduction in total scan time. With the echo time set to exactly one half of the sequence repetition time (TE = TR/2), we show that non‐flow‐related image phase tends to vary smoothly across the field‐of‐view, and can be estimated from static tissue regions to produce a phase reference for nearby voxels containing flowing blood. This approach produces accurate in vivo one‐dimensional velocity estimates in half the scan time compared with conventional balanced SSFP phase‐contrast methods. We also demonstrate the feasibility of referenceless time‐resolved 3D flow imaging (called “7D” flow) in the carotid bifurcation from just three acquisitions. Magn Reson Med, 2009. © 2009 Wiley‐Liss, Inc.