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Rise Seen in Adelaide Vacancies

By Brett Pilgrim

Anyone seeking property in Adelaide last month should have found their options increased, as the vacancy rate rose across the city.

On a national basis, SQM Research revealed vacancies rose from 2 per cent in October to 2.2 per cent the following month – and Adelaide was one of the cities following this trend.

The South Australian capital saw its vacancy rate climb marginally from 1.3 per cent to 1.4 per cent over the same period, indicating greater stability than in some other parts of the country.

Managing director of the group Louis Christopher offered analysis on the figures.

"The national rental market has recorded a rise in vacancies for November, which is normal for this time of year. It is likely as well that the December result will also rise," he commented.

The data also offered an insight into vacancy rates over the past year – Adelaide's stood at 1.5 per cent in November 2012, showing the market has remained broadly stable, Property Observer reports.

This follows the release of the Bendigo Bank/REIA Real Estate Market Facts publication for the September quarter, which showed Adelaide house prices have experienced a slight decline.

Prices slipped by 0.7 per cent compared to the previous three-month period.

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