News

Weekly rents in southern suburbs, oversupply in Christies Beach

According to data published by RP Data Core Logic, the rental Index results for 31st June 2016 show average weekly rents across Adelaide have fallen for the year by -.4%.  This data is supported internally with limited rental increases across the portfolio.  Locally we are seeing great levels of inquiry for properties in Seaford, on the sea side of commercial road, which has seen competition for rents and minor rent increases.  In Aldinga Beach we are now seeing supply meet demand which is great news after a long period of oversupply which put downward pressure on prices.  We would be hopeful to see some rent increases as demand balances out further and will be carefully monitoring this space.

Chrisites Beach is currently experiencing oversupply which is putting downward pressure on pricing.  This is largely due to the number of interstate investors coming into the market with the area touted as a great place to invest for both return and capital growth.  At the time of writing this article, there were 96 available properties to tenant in the suburb.  We would be hopeful that this downward pressure is releived over the next 12 months. 

To read the full RP Data report, click here.