How much rents could increase across SA this year

A new report has made a bold prediction of how much you could be paying for rent in SA by the end of the year. Browse SA’s suburbs and towns in our interactive tables and maps

If the state’s housing shortage continues driving up prices at the same rate this year as it did last year, renters in one area face a weekly increase of 53 per cent, while renters in three suburbs could need to find an extra $222 per week by December.

According to data by SuburbTrends, those renting units in the statistical area of Seaford Rise–Moana, which incorporates Seaford Rise, Maslin Beach and Moana, face the greatest potential dollar value hike and could be paying an extra 43 per cent, or $222 per week by the year’s end.

This would take it from today’s $520 to a forecast $742 by December if weekly rents continue at the same rate as they did in 2023.

Those renting in the Kimba, Cleve and Franklin Harbour statistical division, which incorporates 51 rural towns on SA’s Eyre Peninsula, potentially face the greatest dollar value increase for houses, with weekly rents forecast to rise by $149 from $350 to $499.

For metropolitan house renters, the Virginia-Waterloo Corner statistical division – Penfield, Penfield Gardens, St Kilda, Virginia, Waterloo Corner, Edinburgh North, Buckland Park and Eyre – faces the greatest potential dollar hike, with weekly rents tipped to rise $104 from $530 to $645.

This is also the highest percentage increase for metropolitan houses of 22 per cent, while

Kimba, Cleve and Franklin Harbour statistical division houses also face the highest percentage increase for houses – up a forecast 42 per cent by next January.

Suburbtrends founder Kent Lardner. Supplied

SuburbTrends founder Kent Lardner said his recent Rental Pain Index painted a dire picture of South Australia’s rental market.

“Our January report shows an unprecedented level of rental stress,” he said.

“In states like Queensland and South Australia, over 58 per cent of suburb groups are experiencing extreme rental hardship.”

“This situation is putting immense financial pressure on Australian renters.”

Turner Real Estate chief executive officer Emma Slape said tenants should take the forecast with a pinch of salt.

“We’re definitely not expecting to see the type of increases we have over the past 12 months repeated, and we’re already starting to see fewer people at opens, and the number of inquiries we saw in January are lower than those last January,” she said.

Turner Real Estate chief executive Emma Slape. Picture: Brad Griffin

“The market is starting to ease and we’re starting to see the price increases flatten out as tenants reach their maximum capacity in what they can realistically pay week to week.”

She said rents can’t keep increasing at the rate they have as there comes a point where it becomes unaffordable.

“We’re already at that point in parts of the market,” she said.

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Hospitality worker Jackie McCarthy, 58, is looking for a rental and said she hopes the forecast is wrong.

“The prices are ridiculous as they are now, I really hope they don’t go up at the same rate,” she said.

“There’s nothing really affordable out there and the lines and crowds at open inspections are very large still. But I’m hopeful I’ll find someone and hope prices settle down.”