Where rents are falling across SA

Adelaide’s rental crisis has been long documented and widely reported, but new data gives fresh hope that finding a home might be getting easier.

For some, anyway.

New PropTrack data has revealed the median weekly rent has dropped over the past quarter in 102 of the 248 suburbs and towns the company has house or unit data for.

The biggest drops came for houses in both Plympton Park and South Plympton, which are both down by 12 per cent for the quarter.

In Plympton Park, the median weekly rent dropped from $650 a week in February to $570 in March.

South Plympton houses have dropped from $625 a week to $550.

Plympton and Henley Beach house rents have both dropped 11 per cent for the same period – down to $580 a week in May from $650 in February in Plympton, and $795 a week in May from $840 in February in Henley Beach.

SEE HOW RENTS PERFORMED IN YOUR SUBURB

Both Plympton units and Richmond house’s median rents are down 10 per cent for the quarter, while rents in Findon and Mitchell Park units, and Royal Park, Elizabeth Park, Northfield houses are down 8 per cent.

As well as those suburbs where rents dropped, they also remain unchanged for the quarter in a further 86, with rents increasing in just 60 suburbs – the greatest of which was in Wallaroo, where they climbed by 10 per cent.

Rents have dropped in more than 100 suburbs and towns across SA. Pic: Supplied

According to PropTrack’s methodology, suburbs required a minimum of 30 rental listings in all periods – May 2025, Feb 2025 and May 2024 to be included in the data.

Turner Real Estate managing director Lachlan Turner said Adelaide’s property market was a solid performer on the national stage.

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“Adelaide’s metropolitan property market remained strong through April 2025, with median house prices rising to $876,700 and units to $595,500 – both up 0.3 per cent for the month,” Mr Turner said.

“Rents also hit record highs, averaging $620 per week for houses (up 3.3 per cent in the first quarter) and $500 for units, with a very tight vacancy rate of 0.4 per cent.

“Annual growth sits near 10 per cent, making Adelaide the nation’s top performer.

Turner Real Estate managing director Lachlan Turner

“Looking ahead, experts expect continued growth supported by potential rate cuts and tight supply, though gains may moderate as affordability pressures build.”

Looking at the data over the longer term, rents sit below where they were 12 months ago in 28 suburbs, with Plympton houses seeing the greatest decline.

Weekly rents here – $580 a week – sit 14 per cent below the $675 they were last May.

Rents dropped by 9 per cent over the past 12 months for both Henley Beach South houses and Findon units, while rents for Plympton Park and South Plympton houses have both dropped by 8 per cent.

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Adelaide’s tight rental market remains fiercely competitive, and this competition has seen opportunistic scammers try to take advantage of unwary tenants, with a client of Turner Real Estate targeted with a fake but official-looking letter urging them to change the account they paid their rent into.

Consumer and Business Affairs minister Andrea Michaels urged tenants to never take letters or emails received with such requests on face value.

“It’s really important to be cautious about any request to change payment details, including those seemingly sent by a property manager or landlord,” she said.

Andrea Michaels. Pic: supplied

“Always contact the property manager or landlord directly to verify, using a contact number you either already have or one that you have independently verified and not the contact details contained on the correspondence.

“Similar scams have been reported in the past and checking first is the best way to protect yourself against potential losses.”

– with additional reporting by Jessica Brown.

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