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The Real Estate Institute of South Australia (REISA) released its rental vacancy rate update in May, and it indicates that is harder now to find a rental property in South Australia than it was this time last year – but only just!
South Australia-wide, the REISA says the residential vacancy rate is currently 3.3%, down from 3.4% at the same time in 2013; and from 3.8% in 2012.
Most significant movement was in Adelaide’s north, where the vacancy rate dropped from 3.3% to 2.8% according to the latest figures. In the Riverland also, it’s become much harder to find a rental property. The vacancy rate in the Riverland and the Adelaide Hills is the tightest in South Australia, at 1.4%
Figures for capital cities released by SQM Research suggests that between March and April, Australia’s vacancy rate jumped from 2% to 2.3%, and says this is the highest level in nine years. Adelaide, it says, is bucking the trend. We have the tightest market with 2451 properties vacant in April and a vacancy rate of 1.5%
For our Fleurieu Peninsula region which also incorporates Kangaroo Island, 2013 was 4.1% with 2014 down to 3.7%