Professionals Richmond The Real Estate Institute of South Australia released its rental vacancy rate update in May, and it indicates that is harder now to find a rental property in South Australia than it was this time last year – but only just.
South Australia-wide, the REISA says the residential vacancy rate is currently 3.3%, down from 3.4% at the same time in 2013; and from 3.8% in 2012.
Most significant movement was in Adelaide’s north, where the vacancy rate dropped from 3.3% to 2.8% according to the latest figures. In the Riverland also, it’s become much harder to find a rental property. The vacancy rate in the Riverland and the Adelaide Hills is the tightest in South Australia, at 1.4%
Figures for capital cities released by SQM Research suggests that between March and April, Australia’s vacancy rate jumped from 2% to 2.3%, and says this is the highest level in nine years. Adelaide, it says, is bucking the trend. We have the tightest market with 2451 properties vacant in April and a vacancy rate of 1.5%
2013 2014
City/ North Adelaide 3.0% 2.2%
West 3.1% 3.2%
South 2.9% 2.7%
East 3.2% 2.5%
North 3.3% 2.8%
Hills 1.6% 1.4%
Eyre Peninsula 5.6% 5.9%
Upper Spencer Gulf 6.7% 8.7%
Mid North 4.4% 4.9%
Fleurieu/Kangaroo Island 4.1% 3.7%
South East 3.4% 4.3%
Riverland 4.0% 1.4%
Yorke Peninsula 7.4% 8.3%