Adelaide rising as new apartment hotspot
New data by Urbis indicates Adelaide’s apartment yields are higher than metropolitan Adelaide, Melbourne and Sydney.
According to the latest Urbis Intelligence Report, Adelaide city’s new apartment rental yields are trumping metropolitan Adelaide, Melbourne and Sydney.
In the latest Urbis Intelligence Report, sourced from APM PriceFinder, Adelaide city’s rental yield is higher than most of Australia’s capital cities, at 5.4 per cent, higher than metropolitan Adelaide’s 4.5 per cent, metropolitan Melbourne’s 4.1 per cent, and metropolitan Sydney’s 3.8 per cent.
“Adelaide is very affordable compared to other Australian cities and the yields are also outpacing their eastern seaboard counterparts,” said Alex Stuart, associate director at Urbis.
“The city’s significant investment in major infrastructure including universities, which is attracting a strong international student population, is driving new employment opportunities and growth in Adelaide.
Further data from APM PriceFinder reveals that Adelaide city’s new apartments are also showing high weekly rental rates, as opposed to existing ones, with new one-bedroom apartments attracting $380 per week, as opposed to $315 for existing, and new two-bedrooms attracting $460, as opposed to $430 for existing.
“Over the past five years, the new apartment market in Adelaide has been strong with population growth having helped underpin demand in the inner city,” Mr Stuart added.
“There is also a trend towards higher density living. Jobs are increasingly located in the city centre, which is where professionals like to live.
“Adelaide is one of the world’s most liveable cities and is undergoing a resurgence on the back of significant economic growth.”
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