Adelaide has five suburbs with median weekly advertised rents above $1000, REA Group data shows.
Rents have climbed to jaw-dropping heights in some Adelaide suburbs, with tenants now asked to pay more than $1000 a week in five locations.
The median asking rent for houses has cracked the four-figure threshold in Rose Park, Medindie, Unley Park, Tennyson and Glen Osmond, latest REA Group figures reveal.
Unley Park rentals were the first to hit the milestone back in June last year, making it the only suburb with a median weekly rent over $1000 per week at the time.
Since then, Rose Park has become the most expensive suburb for rentals in SA, with a median asking rent of $1260 per week.
It’s well above the $640 per week median for a house in Greater Adelaide
Harris Real Estate managing director Phil Harris. Picture: Supplied.
While five suburbs now have medians above $1000 per week, several others are hot on their heels, including Dulwich ($980 per week), Wattle Park and Heathpool (both $950 per week).
Harris Real Estate managing director Phil Harris said it wasn’t surprising rents were exceeding $1000 per week in some areas.
“Particularly in those areas that are so tightly held with high-end properties,” he said.
With median sale prices between $1.7m and $3.1m, Mr Harris said rents in all five suburbs were following a similar upward trajectory as sale prices.
