Through July, Australian gross rent yields rose to 3.41%, up from a recent low of 3.21% in January this year. 

“A recent article published by Real Estate.com recently stated that low number of listings, surging rents and properties being leased in just over two weeks has only worsened the rental crisis here in SA” General Manager of Property Management, Jane Looker, said.   

“The new data from PropTrack indicates that rental properties in Adelaide, listed on realestate.com.au, are renting in just 16 days.”  

This comes as the number of homes available to rent has been trending lower since the pandemic began. In Adelaide, total rental listings are now 38 per cent lower than pre-pandemic levels. 

Nationally, the number of days it took a rental property to be leased, after it was listed on realestate.com.au, in July hit a historic low of 19 days. 

The data reported the number of potential renters per listing has increased by 40 per cent for units, and 5 per cent for houses in July year-on-year. 

“Our three hottest properties in July were Gilles Street, Adelaide with 3240 views on real estate.com, Gray Street, Norwood with 2849 views and Belair Road, Torrens Park with 2436 views. The average rent for these properties was $416.” Ms Looker said.

In June, we received applications for properties with a median rent of $565 per week and leased 61 properties, including three off market.