Adelaide is no longer the most affordable capital city to rent a unit: Domain

Adelaide is no longer the most affordable capital city to rent a unit: Domain
Adelaide is no longer the most affordable capital city to rent a unit: Domain

Adelaide is no longer the most affordable capital city to rent a unit, according to the latest research from Domain.

Perth is now the most affordable at $300 per week, $10 cheaper than in Adelaide.

Domain found, Adelaide house rents increased 1.3 per cent over the quarter and 2.7 per cent over the year to $380 per week, while rental yields decreased 0.2 per cent over the quarter and 0.8 per cent over the year to 4.45 per cent. 

Adelaide unit rents increased 3.3 per cent over the quarter and 5.1 per cent over the year to $310 per week.

Rental yields improved 1.2 per cent over the quarter and 3.4 per cent over the year to 5.25 per cent. 

Adelaide is no longer the most affordable capital city to rent a unit: Domain

Domain research analyst, Dr Nicola Powell said Adelaide house and unit rents are now at record highs, "but unit rents are growing faster than houses.“

“Demand for Adelaide rentals is being driven by continued employment growth as well as increased overseas migration, which has hit an eight-year high.

Greater competition between tenants could see rents edge higher in the short to medium term. The number of residents leaving the state is also at a near three-year low,” she concluded.

Adelaide is no longer the most affordable capital city to rent a unit: Domain

Tags: 
Adelaide Rental market

Comments

Be the first one to comment on this article
What would you like to say about this project?