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Adelaide rental market tightest in Australia

23 Jun 2014 Golden Grove 0 Comment

Adelaide rental market tightest in Australia

 

The Real Estate Institute of South Australia released its rental vacancy rate update in May, and it indicates that is harder now to find a rental property in South Australia than it was this time last year – but only just.

South Australia-wide, the REISA says the residential vacancy rate is currently 3.3%, down from 3.4% at the same time in 2013; and from 3.8% in 2012.

Most significant movement was in Adelaide’s north, where the vacancy rate dropped from 3.3% to 2.8% according to the latest figures. In the Riverland also, it’s become much harder to find a rental property. The vacancy rate in the Riverland and the Adelaide Hills is the tightest in South Australia, at 1.4%

Figures for capital cities released by SQM Research suggests that between March and April, Australia’s vacancy rate jumped from 2% to 2.3%, and says this is the highest level in nine years. Adelaide, it says, is bucking the trend. We have the tightest market with 2451 properties vacant in April and a vacancy rate of 1.5%

 

                                           2013          2014

City/ North Adelaide             3.0%         2.2%

West                                   3.1%         3.2%

South                                  2.9%         2.7%

East                                    3.2%         2.5%

North                                   3.3%         2.8%

Hills                                    1.6%         1.4%

Eyre Peninsula                     5.6%         5.9%

Upper Spencer Gulf             6.7%         8.7%

Mid North                            4.4%         4.9%

Fleurieu/Kangaroo Island      4.1%         3.7%

South East                          3.4%         4.3%

Riverland                             4.0%         1.4%

Yorke Peninsula                   7.4%         8.3%


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