Data provided by PriceFinder, based on information from October 2017, has shown the ten cheapest and ten most expensive suburbs for rent in Adelaide. This data represents possibilities for renters and investors alike.
All of the properties to be found in the cheapest ten are clustered north to north-east of the CBD – given distance from the city and isolation from the beach, this is understandable.
Six of the cheapest ten belong to the Elizabeth cluster. Sandwiched between Edinburgh Airport and the Hills, these locations lack the allure of others.
However, featured recently on SA Real Estate News, chief economist of REA Group Nerida Conisbee, spoke about the possibilities these cheap suburbs represent, new developments and demographic changes possibly causing a rise in values in the future.
Those in the ten most expensive are scattered, but are generally in close proximity to the City, as in Unley, Dulwich and Glenunga, or the beach, as in West Lakes Shore and Birkenhead.
Two suburbs buck this trend, exclusive rather than close to the beach or city – these are Burnside and Stirling, the two most expensive suburbs in Adelaide.
For these locations, a sense of exclusivity, tethered to the lack of rentable properties in the area, unlike more metropolitan and suburban locations, skews the figures positively.
Burnside is also aided by its natural reservations and old-Adelaide architecture. Stirling shares this historical boost, with many manors and old buildings in the area.
With the news, late last year, that one third of renters in Adelaide’s CBD suffer ‘rental stress’ it is little wonder that CBD locations feature among the most expensive rental areas, these more north-easterly regions providing far cheaper alternatives.
In an ever-changing market, these prices will not remain static, the cheaper suburbs also representing excellent opportunities for investors looking to take advantage of a rise in value.