However, in regional South Australia, rents saw a significant surge of 6.1% in the June quarter compared to the previous period, reaching a median of $350 per week, marking the highest quarterly growth across the country.

This rental boom in regional SA can be attributed the recent influx of people moving from Adelaide, other states, and even overseas. This rapid population growth has outpaced the construction of new homes, intensifying competition among potential tenants, tightening supply and pushing rental prices higher in the region.

The post-pandemic resurgence of international tourism has further contributed to the scarcity of supply, with long-term rentals converting to short-term Airbnb listings. As a result, the vacancy rates across regional SA have reached historically low levels, currently ranging between 0.74% to 0.4%. These figures represent the lowest vacancy rates in the country, putting immense pressure on individuals searching for a suitable rental property.

However, there is some positive news on the horizon. In February of this year, the state government launched a Regional Key Worker Housing scheme, aimed at facilitating the development of new housing for government service workers, including teachers, nurses and police.

The program is set to deliver approximately 30 homes across various locations, including Copper Coast, Riverland, Mount Gambier, Port Augusta, and Ceduna, with completion expected in mid-2024. The plan is to eventually extend the scheme to encompass additional regions and sectors, including the private sector, which will provide much-needed relief for tenants.