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Adelaide rental market tightest in Australia

23 Jun 2014 modbury 0 Comment

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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