Annual growth in rent values remains elevated on the decade average (which was 3.0% per year) but has shown signs of easing after peaking at 10.2% over the 2022 calendar year.  

Gross rent yields moved lower through the month of June nationally, as capital growth in home values (1.1%) outpaced the estimated growth in rent values (0.7%). National gross rent yields were 3.8% over June, down from 3.9% in the previous month, but higher than 3.3% a year ago.  Adelaide again outperformed the national average at 4.1% 

 “Interest in rentals is spread across Adelaide. The three properties that have recently attracted the most interest Young Street, Parkside ($450 per week) with 907 views on real estate.com, Wakefield Street, Adelaide ($675 per week) with 562 views and Lancia Road, Croydon Park ($520 per week) with 520 views.” General Manager of Property Management, Jane Looker, said.   

“We had 64 properties available for rent during June, with an average of 792 views per property on real estate.com. The median rent was $634.” 

 Top tier firms like Amazon and Google have moved into Adelaide, attracting a new generation of professionals. Our property managers are seeing a rise in the number of professionals and families moving here from interstate and overseas. Many are looking for rental properties while they wait for their Permanent Residency or are returning home after spending time abroad.  

We saw this trend really start in 2021 during the pandemic, where many people swapped big city living for space and a better lifestyle, and this has continued. Rent goes a lot further here when compared to other capital cities in Australia and that continues to draw people here – the affordability, opportunities, and lifestyle we enjoy.