As Sydney unit rental prices creep closer to being on par with houses and Perth house rents decline following a period of “unsustainable growth”, investors might turn to Adelaide for property investment.
These key findings were made by Australian Property Monitors in its Rental Report: March Quarter 2014.
Adelaide’s gross rental yield performance was stable and on the rise, according to the report. Such news will be welcomed by those who own investment property in Prospect, Norwood and elsewhere in the capital city.
The figures for houses
Gross rental yields for houses increased 1.5 per cent between the December 2013 and March 2014 quarter, while rising 2.5 per cent year-on-year to this year’s first quarter, noted the report.
Weekly rents for houses actually dropped slightly (-1.4 per cent) quarter-on-quarter, but increased 1.5 per cent year-on-year.
The case for units
Weekly rents for units remained stable quarter-on-quarter, with no quarterly change. However, they did increase by 1.8 per cent year-on-year.
With regards to gross rental yields for property in Adelaide, quarterly growth sat at 1.3 per cent, while yearly growth to the March quarter was 2.6 per cent.
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