When purchasing an investment property, it is important to consider which suburb to invest in that will attract a high demand of tenants to minimise the cost of vacancy and that will see long term growth overall.
Adelaide has remained a strong state to invest in, with house prices increased by 2.7% in just the last quarter and average prices currently at $380 per week, with apartment averages at $300 per week.
Lets take a look at Adelaide’s most in demand suburbs!
Golden Grove in Adelaide’s northeast is arguably the surprise on the list of SA’s most in-demand suburbs for rental properties.
The suburb, which sits in the Tea Tree Gully council area is about 23km from the CBD, has a median weekly rental price of $363.
It came fourth on a list of SA’s most searched-for rental suburbs on realestate.com.au, sitting alongside more inner-suburban and seaside areas.
Inner city and beach side suburbs predictably took out the top spots on the most in-demand rental suburbs list, with cosmopolitan Unley at number one.
The suburb, which is less than 5km from the CBD, is known for its shops and cafes, and restaurants.
4: Golden Grove
7: South Plympton
8: North Plympton
9: Camden Park
Looks like the beach suburbs remain in strong demand from renters!
2: Oaklands Park
8: Somerton Park
9: Mile End
At RMC Realestate, we have experienced a strong volume of tenants attendance at open inspections across the board, which has resulted in multiple applications – where we Leased almost a property a day in the first week and half of January!
If you would like to know more on the Adelaide market, or would like information on our services – fill in your details below or contact Elinore Rositano, Director on 0402 148 373.