April Rental Market Update

Through April, Australian gross rent yields held at 3.23%, up from a recent low of 3.21% through January this year. Since January, gross rent yields in Sydney have lifted 9 basis points, and 7 basis points in Melbourne. 

 “We continue to see a lack of supply of rental housing but have noticed a slowing in the sale of investment properties, mostly likely in reaction to rising interest rates. This is good news for renters," General Manager of Property Management, Jane Looker, said.  

“Our available rental properties were viewed 43157 times during April, resulting in 2524 enquiries from Real Estate.com alone. You can imagine how busy property managers are dealing with that volume of enquiries” 

In April, we received applications for properties with a median rent of $603 per week and leased 41properties.  


“Our three hottest properties in April were Blackburn Street, Adelaide with 6886 views on realestate.com, McGlasson Avenue, Magill with 2263 views and Swaine Avenue, Toorak Gardens with 2018 views. These three properties along generated an amazing 504 enquiries from Real Estate.com”, Ms Looker said. “The demand is there; this demonstrates the real need for rental properties.” 

In Adelaide, currently, the average rent for a one-bedroom unit on realestate.com.au is $400 per week, and $470 for a two-bedroom apartment.  

As reported by Real Estate.com on 17th May “Adelaide is emerging as a trendy city to learn, work and play. As young renters pour in, the city’s rental market is evolving.  

Following the pandemic, Adelaide has become a popular place to be for a new generation of renters. Interesting things are happening with student accommodation in the city such as “The Switch,” Adelaide’s newest student and co-living accommodation “built to redefine urban renting with flexible lease options, all-inclusive pricing and an innovative playground of communal spaces” Click here to read the full article.