Unit rent values have seen increased momentum, rising 11.8% over the past year. This saw annual rental growth across national dwelling hold steady at of 10.0%. 

Through September, Australian gross rent yields rose to 3.57%, up from a recent low of 3.21% in February this year. Since the end of 2021, gross rent yields in Sydney have lifted 51 basis points, and 35 basis points in Melbourne.  

“We are still seeing an influx of people into South Australia from interstate and overseas. Most of our rental properties that have been sold are to owner-occupiers, which is unwelcome news for renters.” 

“On the upside however, some Airbnb owners are looking to convert their short stay properties into long terms rentals.” General Manager of Property Management, Jane Looker, said. “We can only hope this trend continues and the supply of available homes increases, bringing some relief for renters.” 

Our top three properties for September were York Place, Woodville North, South Terrace, Adelaide and Church Road, Montacute. The average rents were $433 and views on Real Estate com averaged a massive 2,358 per property. 

In September, we received applications for properties with a median rent of $545 per week and leased 40 properties, with an upward trend of rents rising.