Many of Australia's suburbs are experiencing extremely low vacancy rates, with some regions seeing numbers as low as one per cent. An analysis of housing data done by Australian Property Investor (API) magazine shows that there are 100 capital cities in Australia where rentals are in scarce supply, which drives up demand.
Adelaide ranks among the top 100 capital city hotspots listed by API, recording the largest amount of rental demand hotspot entries, meaning that 31 of the city's suburbs have an exceptionally high demand for rentals.
Those looking for rental property in Burnside, Norwood, Prospect and North Adelaide will find themselves competing with many other people eager to rent. Therefore, it might be wise to consider investing in real estate in Adelaide instead.
A low vacancy rate also mean numerous requests for any unoccupied rental property that's respectable, which gives investors a lot of leverage to ask for a higher price.
There are many factors influencing the rental supply shortage, including the fact that a majority of people still hesitate when it comes to buying a house. Other contributors are the slowly recovering construction industry and the rising population.
The high demand for rentals in Adelaide also raises the value of real estate investments in the area – great news for owners of property in Adelaide and surrounds.
By Laura Barry in association with Whether you’re looking to update your home according to the season, or want the space to feel a little more polished, there are a few simple changes you can make to your interior to achieve a luxe look without a big outlay. Elevating your interior style … Read more
By Samantha van Egmond in association with Discover budget friendly ways that fill your large walls with mirrors, art and textiles. A bare, white wall in your living area can be intimidating and make even the loveliest of homes feel cold, especially in winter. However, there are ways to inject personality into … Read more