News & Media
Adelaide remains most affordable capital for renters, report reveals
17 Jan 14
Real estate agents in South Australia may be interested in the findings of the latest Australian Property Monitors Rental Price Series Quarterly Report.
According to year-on-year data from December 2012 to December 2013, Adelaide is still the most affordable mainland capital city for renters, with the average weekly asking rent currently sitting at $350 for houses and $285 for units.
In comparison, median weekly asking rents for houses is $500 in Sydney, $400 in Adelaide and $375 in Melbourne. Darwin is the most expensive city overall, with an average weekly rental price of $700.
Adelaide's comparatively affordable prices are good for tenants, but landlords are not on the losing side. The report also showed median prices in Adelaide were increasing, with rents rising 2.9 per cent for houses over the December quarter and 1.8 per cent for units.
This data shows property in Adelaide offers excellent potential for return on investment but is relatively affordable, meaning more people can get a foot onto the property ladder.
Real estate agents may want to share this data with buyers and sellers alike, helping them to gain a better understanding of the current property market and calculate their budget accordingly.
By providing real estate advice to clients, you increase their chance of finding property market success and therefore potentially boost your commission.
Not simply a sales role, real estate agents often play the part of adviser and are trusted to have in-depth, relevant local market knowledge.
To continue fine-tuning your skills, why not attend a real estate training course or increase your knowledge in the area of real estate legislation?
REISA offers a range of useful courses and training modules that can help you become a better agent in no time.