Adelaide house rents reach a record high: Domain
Rental prices are steadily rising in the South Australian capital, with unit rents surpassing Perth last quarter for the first time, according to Domain.
Its 2019 Rental Report said house rents are now at a record high while unit rents held at the record high achieved last quarter.
Adelaide’s vacancy rate indicates that the rental market is tightening, making it the third most competitive capital city for tenants.
Available rental stock has been sliding since mid-2017, and overseas migration edges higher, placing further pressure on rents.
Gross rental yields could attract investor activity, particularly given the lower purchasing cost relative to the eastern seaboard.
Annually house yields nudged marginally higher for the first time in just over five-years, while unit yields have been improving for a year.
The diminished prospect of capital gains and weaker yields in Sydney and Melbourne could see investors seek markets that have avoided the east coast price surge.
Source: Domain 2019 Rental Report
A dual level cottage located in the heart of Adelaide's south east corner has been listed for lease with a price of $410 per week (pictured below).
The cottage at 14A Gladstone Street comprises of two bedrooms upstairs, study, third bedroom or dressing room, living area, country style kitchen, and rear alfresco courtyard/garden.
It is within walking distance from Adelaide's popular Hutt Street Precinct, shops and transport.
A two bedroom apartment in Adelaide has been listed for $312 per week (pictured below).
The modern apartment at 1.3/242 Flinder Street features spacious living rooms, European-style kitchen including dishwasher, and entertainers balcony.
