Adelaide vacancies tighten to 1.5%
Despite evidence of a slowing rental market, Adelaide’s vacancy rate tightened to 1.5% in May, according the Real Estate Institute of South Australia.
The West continues to record a vacancy rate above 2% while the South and City areas have vacancy rates below 1%. Anecdotal evidence from property managers suggests tenants are shying away from beachside areas (West precinct) in the cooler months, preferring suburbs close to the CBD that offer access to public transport and essential facilities.
The North and East areas have vacancy rates between 1.3% and 1.6%, while the Adelaide Hills continues to report zero vacancies.
