A 5.9% increase in available rental stock over the last year has had little impact on Adelaide
’s vacancy rate, which stands at 1.49% for September, according to the Real Estate Institute of South Australia (REISA).
The influx of interstate and overseas investors has contributed to the strong demand, according to REISA president Mark Sanderson.
“Investors know that vacancy rates are low here as there’s high demand from tenants,” he said. “SA is also attractive to migrants, which plays a big factor in the rental market as they search for housing.”
Sanderson said the state’s mining sector had already had a big impact on the rental market, with the Nairne and Kanmantoo region achieving the best results over the last year.
The number of rental properties in the postcode of 5252 – which includes the suburbs of Nairne and Kanmantoo – achieved huge growth, rising by 152.5% over the past year to 557 properties.
“This is a direct result of the expansion of the Kanmantoo Mine which has rejuvenated the area and created huge employment opportunities,” Sanderson said.
In metropolitan Adelaide, Mawson Lakes
had the most significant rise of 21.4% to 1,036 properties.
“Housing development and employment options in the north have had a big influence on the growth of this area,” said Sanderson.
Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.
We value your privacy and treat all your information seriously - you can check out