News

Average weekly rents for Sep 17 Qtr in Adelaide

The Real Estate Institute of SA released their September Qtr data on the 28th November which showed for the period, average weekly rents have increased from $310 to $320 per week. 

From data taken from residential tenancy agreements written for the quarter across the state we were able to see that the number of tenancy agreements written in the September Qtr increased by 5.0% from the July Qtr, which shows more movement and a much needed increase in demand.

During this Qtr the rental growth on average was 3.7%, equating to an average weekly rent increase for the state from $310 to $320.  Not surprisingly Seaford Meadows and Christies Beach were in the top 10 suburbs in the state for the total number of tenancy agreements written.  This reflects the vast number of investment properties that have been built in the area.

There was a wide range in the results for median weekly rent paid, where the highest median result per suburb was $485 (Parkside) and lowest $170 (rural suburbs).

When considering whether a price increase is due for your rental we look at the supply and demand for your particular property and your particular suburb.  We always aim to ensure the best possible rent, with the best possible tenant at all times.