Same old arguements again and again. I'm sure property investors like Warnie in Adelaide are all about to sell up as well......
ADELAIDE'S monthly rental vacancy rate has dropped below 1 per cent for the first time in two-and-a-half years, latest figures show.
The Real Estate Institute of South Australia's monthly survey released yesterday revealed a 0.8 per cent vacancy rate within metropolitan Adelaide during July.
The eastern suburbs, classified as suburbs east of the city square between Payneham and Glen Osmond roads, had the tightest rental market during the month with a 0.5 per cent vacancy rate.
People hunting for rental properties in the Adelaide Hills had the best chances of success, with a 2.38 per cent vacancy rate.
REISA president Michael Brock said that the figures showed a lack of choice for prospective tenants, particularly in the lower price ranges.
# BEN HYDE # From: The Advertiser # August 27, 2010 12:01AM
He said properties being re-let were "attracting plenty of inquiries or a quick renewal".
"Properties coming up for re-let are attracting plenty of inquiries or a quick renewal to avoid existing tenants having to head back out into the market," he said.
"We need more investors to help ease the rental shortage and now is the perfect time to purchase an investment property with stable interest rates and strong letting prospects."
The median rental price for houses during July was $300 a week while for units it was $250 a week.
"Anything at or under this level will rent very quickly," Mr Brock said.
