October Rental Market Update

Adelaide rents increased 8.6%, drawing the eye of interstate investors looking to move away from investing in cities like Melbourne, who experienced only a 2.8% increase.  

Gross rent yields continued to trend lower through October, reaching a fresh record low of 3.27%. Adelaide performed better than the national average with 4% during October.  

“There is a lot of movement in the renting community at the moment” General Manger of Property Management, Jane Looker, said. 

“We are hearing from prospective tenants about contracts starting in January 2022, particularly in the defence and medical industries, meaning renters are keen to secure properties before Christmas.”   

“Getting children enrolled in school and being settled for the new year is their highest priority and they are happy to pay anything to secure a property, especially in areas with zoned schools” 


“As defence family rental properties are often subsidised, budgets are sometimes unlimited. An influx of these tenants will further drive the increase in Adelaide rents.”  

In October, we received 254 applications with a median rent of $443, leased 42 properties and welcomed 384 groups through our opens.  

Properties that attracted the most interest were Third Avenue, Glenelg East with 2023 views on realestate.com. William Street, Norwood with 1825 views and Angas Avenue, Vale Park with 1748 views. The median rent for these properties was $347, demonstrating that demand for rentals around the $350 - $400 mark is high. 

“Our early release rental system is attracting a lot of attention, as tenants learn they can access properties before they even appear on realestate.com. This is a game changer in such a competitive environment, especially in the affordable $350-$400 per week price bracket. We could lease those homes 20 times over; we just don’t have the stock” Ms Looker said.