Figures reveal Adelaide’s rental rates are continuing to increase. 

Adelaide’s rental rates grew from 4.9 per cent in March to 5.8 per cent in April, while the gross rental yield stayed consistent at 4.3 per cent. 

 “Rental returns in Adelaide are looking favourable as they stand shoulder to shoulder with the other states who have always had a tight rein on rents,” TOOP+TOOP General Manger of Property Management, Jane Looker, said. 

 “In saying this, however, the cost of purchasing has also been considerably higher.   

“Many interstate owners are looking at now investing in Adelaide, which is great for our state, adding valuable rental properties to the market and providing investors great returns.”  

In April, we received 237 applications, leased 31 properties, and welcomed 497 groups through our opens.  

Properties that attracted the greatest amount of interest were John Renwick Place, Modbury Heights listed for $410 per week with 137 enquiries, Coker Street, Ferryden Park at $370 per week with 81 enquiries and Cowra Street, Mile End at $410 per week with 71 enquiries. 

“While the market has slowed a little, we are finding that property owners are taking advantage of the strong sales market and selling their investment properties,” Ms Looker said.  

“That, plus the demand from interstate expats moving back to Adelaide, means there is still a shortage of rental stock, particularly in the suburbs. 

“We are finding that tenants are also breaking leases to take advantage of the extended Home Builder’s grant. There is a lot of movement on all fronts in Adelaide.”