Owners of investment property in Adelaide will be encouraged by the news vacancy rates have dropped for the fourth consecutive month, according to the latest figures from SQM Research.
The national vacancy rate reached 2 per cent in October, while Adelaide fell well below the average trend at a rate of just 1.3 per cent.
This low vacancy rate equates to a total of 2,285 vacant properties in the city.
Adelaide recorded the largest monthly decline of all capital cities, falling by 0.2 per cent during October 2013.
The number of vacant properties in Adelaide has fallen by 237 between September and October this year.
This is great news for investors who own real estate in Adelaide, as a declining vacancy rates show an increasing number of rental properties are being filled with tenants.
Vacancy rates are especially crucial in the Adelaide property market as 65 per cent of the residents in the areas rent rather than own their home, according to RPData.
This means that investors who are considering purchasing property in Adelaide with the intent to rent are in a prime position to take advantage of increased demand for rental properties in the area.
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