Houses in regional SA saw the greatest annual price growth of all markets in December, according to the latest REA Group Market Insight, released last week.
The report found that while the median advertised rent in regional SA grew by 8.1% over the year to December 2024, houses specifically saw an 11.7% annual rise – the highest increase for house rents across all capital and rest of state markets.
Key findings from the report:
• The median weekly rent in regional SA was flat over the December 2024 quarter at $400, marking an 8.1% rise from a year prior.
• Unit rents in regional SA fell by 3.2% over the December quarter to sit at $300 per week, while house rent growth was at 2.4% over the quarter to sit at $430 per week.
• Regional SA recorded the highest annual rental price growth for houses over the year to December 2024 (+11.7%) of all markets.
• Adelaide’s median advertised rent was flat for the December quarter but rose 7.4% annually, the second-highest increase among capitals after Perth (+8.3%).
• Over the past 12 months in Adelaide unit rents grew 8.7%, outpacing house rents at 5.3%, with median weekly rents at $500 for units and $600 for houses in the December quarter.
The report found national median weekly advertised rents increased by 1.6% over the December 2024 quarter to a new high of $620.
Capital city advertised rents increased 1.6% over the quarter to $640 per week as all markets saw unchanged rent prices except Brisbane and the ACT.
National rents increased 6.9% over 2024, down from 11.5% over 2023. This marked the slowest rate of annual rent growth since the September 2021 quarter.
Advertised rents in Sydney ($730) and Melbourne ($570) have remained flat for six months.
House rents increased 1.6% in the December 2024 quarter, while unit rents were unchanged. However, over the past year units (+7.1%) have seen slightly stronger growth than houses (+5.9%).
A REA Group Market Insight spokesperson said in regional areas, advertised rents were unchanged at $550 per week in the December 2024 quarter, but increased a significant 10% over 2024.
“The pace of rent growth across the country is slowing, with market conditions easing for renters. Rents are now growing at their slowest pace since late 2021,” the spokesperson said.
“The slower pace of growth comes on the back of an increase in the number of available rentals as well as cost of living pressures limiting tenants’ spending capacity.
“In welcome news for renters in the two largest rental markets – Sydney and Melbourne rents have now been unchanged for six months.
“Brisbane and Canberra were the only two capital cities to see rents increase over the past three months, but Adelaide and Perth have seen the strongest increases in rents over the past year.
“January marks the busiest time of year for the rental market with tenants out in large numbers looking for new rental homes. We expect rents to increase moderately this year, with the trend of slower rent to persist throughout 2025.”
