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BRENTON
WARD PTY LTD A.C.N. 108 335 708 |
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BRENTON
WARD PTY LTD A.C.N. 108 335 708 |
Adelaide rental market tightens affirming stable property market
15 August 2005
The Adelaide residential vacancy rate has again moved below 2% signalling a strong demand for rental accommodation, according to the Real Estate Institute of South Australia Inc (REISA).
Throughout July, the vacancy rate fell to 1.7% which is the fourth time this year that the rate has been below 2%.
The property market is continuing to perform very strongly and these latest statistics confirm this.
The REISA vacancy rate survey is broken down into six main areas. The parameters and statistics during July 2005 were:
City - All city and North Adelaide only. – 1.1%
West – Suburbs west of West Terrace, between Port Road and Anzac Highway, including Glenelg suburbs. – 2.6%
South – Suburbs south of South Terrace, between Glen Osmond Road and Anzac Highway, excluding Glenelg suburbs. – 1.3%
East – Suburbs east of the city square, between Payneham and Glen Osmond Roads, excluding the Hills area. – 1.4%
North – Suburbs north of North Adelaide, between Port and Payneham Roads, turning into Lower North East Road. – 1.8%
Hills – Suburbs from Crafers to Nairne. – 0.6%
REISA conducts its exclusive residential vacancy rate survey monthly. Around 7700 properties were included in the survey undertaken for July 2005 with statistics kindly provided by REISA member property managers across the metropolitan area.
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