This is significant growth, and with a vacancy rate below 1%, this can be largely attributed to Adelaide's position as one of the tightest markets in the country.

Homes in Glen Osmond, Hazelwood Park, Stirling and Medindie have seen the biggest increases in rent, with PropTrack data revealing an average increase of $200 per week over the past 12 months.

Top 8 Adelaide Suburbs for growth in weekly rents:

Given the current high demand for rentals coupled with limited availability, this growth trend is expected to persist across Adelaide and the rest of Australia.

Unfortunately, this forecast suggests little relief for renters in the short term. With such favourable conditions for property investors, we are starting to see activity pick up in Adelaide with more investment properties coming onto the market than the levels seen during the height of the pandemic. This should provide some relief to tenants in the medium term.