Adelaide overtakes Perth for capital city with lowest rental vacancy

New data shows renters continue to struggle through competitive market conditions, with Adelaide now the toughest market to enter.

"The fact that in Adelaide, we're well below 1 per cent at this point shows what a crisis we're in at the moment."Nationally there was a "modest rise" in the number of homes available for rent in March, with Sydney, Melbourne and Brisbane all recording slight increases in vacancy rates. "Since March 2020, there's been a 44 per cent reduction in the total number of rental properties sitting vacant," she said.Adelaide doctor Mirella Taylor, 25, and project manager Sarah Mortimer, 28, are among those who know that situation all too well.They have been to at least 10 house inspections over the past two months as they continue to search for a share house.

"Once some of the reforms are introduced, hopefully that will help the market settle a little bit, too."But with the average rent about $565 per week — according to analysis from CoreLogic earlier this year — Ms Heading said there were still significant impediments to reducing rents."New houses are not being built fast enough with what we're seeing in terms of population growth.

Source: News Formal (newsformal.com)

Affordability Crisis Adelaide Overtakes Perth Competitive 0.83% Houses Available Rent Rising Prices Hurting Cost Of Living

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