September 2021 Market Update

Gross rent yields continued to trend lower through September, reaching a new fresh record low of 3.3% nationally. 

“We are receiving multiple enquiries each day from tenants seeking properties, with many from interstate having signed on for contracts or positions here in Adelaide” General Manger of Property Management, Jane Looker, said. 

“It continues to put pressure on the amount of rental stock available and has caused an upswing in the median Adelaide rent, which now exceeds Melbourne’s median figure. For low-income earners, this is a real issue.” 

In September, we received over 311 applications, leased 46 properties, and welcomed 432 groups through our opens. 

Properties that attracted the most interest were Nora Street, Maylands with 831 views on realestate.com , William Street, Norwood with 815 views and Third Avenue, Glenelg East with 718 views and 44 enquiries. 

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“My advice to renters right now is to sign up to receive property alerts from our website. We list properties there as early release rentals, and they are not on realestate.com or Domain. It’s free to register, simply head to https://toop.com.au/rental-alert-registration and enter your criteria.” 

“As soon as a property that matches your criteria is listed, you will get an instant alert to your inbox” Ms Looker said.  

“This is helping TOOP tenants get the edge on the competition for rental properties and our landlords peace of mind that their next tenant is secured in advance.” Time is of the essence at the moment, we have been able to lease numerous properties off market , some even in 2022. We want to make finding a home an easier experience in this rather chaotic market. 

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