Revealed: SA’s biggest rental price winners and losers

An insatiable hunger for rental properties and changes to negative gearing rules have driven up weekly rents across the state over the past quarter, new data shows. Exclusive REA Group data reveals SA’s top performing suburbs and towns, with landlords laughing all the way to the bank across most of the state – not just certain in-demand pockets. According to the data, Somerton Park’s weekly house rent spiked the most over the past quarter, sitting 6.7 per cent or $50 a week higher in June than in March. The regional stars of Port Lincoln and Whyalla Stuart houses were tied for second place – with rents up 6 per cent on this time last year in both regional suburbs. Units in Glenelg North are $30 a week or 5.8 per cent more expensive than last quarter, while Glengowrie and Woodcroft houses rounded out the top five with increases of 5.6 per cent and 5 per cent – or $40 and $30 a week respectively. Tom Devitt – HIA Senior Economist Housing Industry Association senior economist Tom Devitt said Australia’s housing shortage was hurting everyday South Australians. “Australia has a shortage of housing stock in the locations, of the types and at the prices households need,” he said. “Rental ...