Adelaide renters doing it toughest in the country

Ask any hopeful tenant and they’ll tell you the same thing: It’s rough being a renter in SA. Here’s why we have the hardest rental market in the country.

Adelaide’s rental conditions are the toughest in the country, new data shows.

According to PropTrack’s Market Insight Report, released Friday, Adelaide’s vacancy rate dropped 0.13 percentage points in August and now sits at 0.68 per cent – the lowest in the nation.

The rental market in regional SA is just as tight, and currently sits at 0.69 per cent – down 0.17 percentage points for the month.

This compares with a national regional average of 1.1 per cent for both capital cities and regional Australia.

According to the report, the national vacancy rate recorded its largest drop in over a year in August, falling by 0.14 percentage points, while the share of vacant and available rental properties is now 54 per cent lower than in March, 2020, the start of the pandemic.

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PropTrack economist Anne Flaherty

Report author, PropTrack economist Anne Flaherty, said times were tough for renters.

“It became even harder to rent a property in August … vacancy rates deteriorated in every capital city bar Darwin, with Canberra and Sydney seeing the sharpest drops over the month,” she said. “There are no signs rental conditions are easing, with the vacancy rate now sitting below 1 per cent in three of Australia’s capital cities.

“Rents are predicted to continue rising off the back of these incredibly low vacancy rates, which are driving up competition for properties.”

LJ Hooker SA/WA State Manager Bill Dimou. Picture: Tom Huntley

LJ Hooker SA and WA state manager Bill Dimou said it was important hopeful tenants make their applications stand out from their competition.

“Have everything there at your fingertips at the open inspection and have all your documentation at hand and filled out, including references from former rentals and proof you have the capacity to pay the rent,” he said.

“It really is a competitive market out there, so making processing your application as efficient for the property manager as possible is important, and always remember to be polite, professional and courteous. These things go a long way.”

Originally published as Adelaide renters doing it toughest in the country