May Rental Market Update

Through May, Australian gross rent yields rose to 3.3%, up from a recent low of 3.21% through January this year. Since the end of 2021, gross rent yields in Sydney have lifted 17 basis points, and 12 basis points in Melbourne. 

“The recent rise in interest rates has some owners concerned about the financial performance of their investment property, however the increase in rents in Adelaide is generally offsetting higher rates,” General Manager of Property Management, Jane Looker, said.    

“It is highly advisable that owners get up to date appraisals for their investment properties to ensure their increased costs are being covered. This is especially important for self-managing landlords who may not have the latest intel on market rates.” 


"Our three hottest properties in May were well priced units or apartments. People are clearly hunting affordable housing, amid the rising cost of living." A unit on Broadway, Glenelg South had 2195 view on real and 115 enquiries. Stradbroke Road, Rostrevor had 2134 views and 143 enquiries followed by Charles Street, Plympton with 1594 views and 136 enquiries.  

“The median rent for these properties was $387 and days on market was just under 14, compared to the industry average of 30.” Ms Looker said. “Again, affordable housing is on everyone’s lips and short turnaround times are leaving current property owners with little down time.” 

In May, we received applications for properties with a median rent of $577 per week and leased 50 properties, including two off market.