In the year to July, Australian rent values increased 7.5%, which is the strongest annual appreciation in rents since December 2008.

Adelaide’s rental rates grew from 7.2 per cent in June to 7.5 per cent in July. 

Gross rental yields compressed further through June to 4.2 per cent, due to value increases outpacing rent rises. 

 “Adelaide rents are now on par with Melbourne,” General Manger of Property Management, Jane Looker, said. 

 “You get a lot more for your money in Adelaide, and people moving here from Sydney and Melbourne are being pleasantly surprised by that. $800 a week in Adelaide gets you a well presented 4-bedroom house 10 minutes from the city, compared to Sydney where you may get a one-bedroom apartment in the suburbs.” 

 In July, we received over 280 applications, leased 39 properties, and welcomed 431 groups through our opens. 

Properties that attracted the most interest were Daphne Street, Prospect with 183 enquiries, Gunliffe Street, Taperoo with 95 enquiries and Pier Street, Glenelg 89 enquiries. 

“The property investment market in Adelaide is performing exceptionally well. The average rental return here is 4.2%, which almost double Sydney and Melbourne. Many of our property owners are achieving a return of 6-8%. We’ve been able to achieve this by attracting a high number of tenants to our homes, and minimising vacancy time.” 

“The average rental amount in July was $521 per week. However, the top end of the market is hot right now as well. In July we leased 2 properties over $1200 per week, 3 over $800 and 3 over $700,” Ms Looker said.  

“Demand for executive rentals is being driven by professionals being deployed to Adelaide for work. It’s increasing our city’s desirability as a wonderful place to live and invest.”