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Adelaide is renowned for its steady rental market but the scales are tipping when it comes to prices, with some suburbs seeing rents jump as high as others have seen them plunge in the past year. New data from reveals the suburbs with the largest increases and decreases in rent for houses over the past 12 months. Tusmore in the city’s east recorded the highest increase with its median weekly rent climbing 28.3 per cent to $590, which was based on 10 houses listed for rent in the period. Its neighbour Hazelwood Park came in close second with a 26 per cent increase to a median of $630 each week, followed by Marryatville with 23.2 per cent growth to $468 per week. At the other end of the scale, Unley Park experienced the largest decline at 20.1 per cent to a median weekly rent of $563, based on 12 houses listed for rent throughout the year. Hyde Park (18.8 per cent to a median of $483 a week) and College Park (18.4 per cent to a median of $518 a week) rounded out the top three. TOP 10 SUBURBS WITH LARGEST INCREASES (Suburb, median weekly rent (12 months), no. of rental listing (12 months), year-on-year weekly rent change) Tusmore – $590, 10, 28.3 per cent Hazelwood Park – $630, 14, 26 per cent Marryatville – $468, 10, 23.2 per cent Maylands – $540, 18, 20 per cent Royston Park – $540, 13, 20 per cent Myrtle Bank – $595, 29, 17.1 per cent Coromandel Valley -$473, 30, 16.8 per cent Tennyson – $650, 17, 16.5 per cent Malvern – $650, 35, 16.1 per cent Bellevue Heights – $480, 34, 15.7 per cent TOP 10 SUBURBS WITH LARGEST DECREASES (Suburb, median weekly rent (12 months), no. of rental listing (12 months), year-on-year weekly rent change) Unley Park – $563, 12, down 20.1 per cent Hyde Park – $483, 41, down 18.8 per cent College Park – $518, 10, down 18.4 per cent Medindie – $660, 17, down 17.5 per cent Wayville – $468, 20, down 14.1 per cent Aldgate – $500, 29, down 13.0 per cent Cheltenham – $350, 19, down 7.9 per cent Park Holme – $400, 59, down 7.0 per cent Netherby – $610, 22, down 6.9 per cent Walkerville – $590, 27, down 6.8 per cent Read more:x The top 10 South Australian suburbs where rents ar... Are you a renter or an investor? New data has revealed the suburbs where prices have jumped or fallen across Adelaide. Will you be jumping for joy or tightening your purse strings? See the full list h...
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If you own and lease out an investment property, you may consider changing the locks at some stage throughout ownership. While the security of your investment property is of upmost importance, there are several factors to consider before doing so. Things like cost, convenience and regulation all come into play. So, when can a landlord change the locks and further to this, when should a landlord change them? To answer this question, we first have to look at tenant and landlord obligations. Tenant and landlord obligations when changing locks Both tenant and landlord have responsibility when it comes to the security of a rental property. By law, tenants cannot alter, remove or add any lock or other security device without reasonable excuse or unless the landlord agrees. A reasonable excuse includes: an emergency the tenancy of a co-tenant was terminated the tenant had to comply with an order of the NSW Civil and Administrative Tribunal a tenant or other occupant was excluded from the premises by an apprehended violence order. As per a typical tenancy agreement, tenants agree to give the landlord a copy of the key for any changed lock within seven days of the change.  Landlords also have obligations when it comes to changing locks. Landlords are required to provide and maintain locks in order to keep the premises reasonably secure. They’re also obliged to provide each tenant named on the tenancy agreement with a copy of the key. The landlord must not alter, remove or add any locks without first liaising with the tenants and they must provide a copy of the new key within seven days of the change. By law, landlords must not charge the tenants for copies of these keys unless a replacement is required. Generally, so long as you inform the real estate agency and tenants of lock changes, and the tenants agree to those changes, you should be able to modify the locks at any time. You should change the locks if there has been forced entry or theft. You may also want to change the locks if a tenant agreement has been terminated on bad terms. Advantages of changing the locks The most obvious advantage to changing the locks on your investment property is that it ensures the safety and security of the building and current tenants. As property is likely to be one of the biggest investments you’ll make in your lifetime, it makes sense to properly protect it. This can be a simple yet significant step to do so. Disadvantages of changing the locks One of the main reasons that landlords don’t regularly change the locks is that it takes time, money and effort. Getting quotes, finding a reasonably priced locksmith and arranging a time for them to access the property with the tenants’ consent can be stressful. If your investment property is in an area that favours short-term lease agreements, then doing this at the end of every tenancy can be tiresome and unreasonable. Should you change the locks? As a landlord, it’s important to be proactive about the security of your investment property. However, whether you decide to change or leave the locks on your property is entirely up to you. Your decision will rely on personal circumstances that only you can determine. Source:x When can a landlord change the locks? There are certain rules a property investor must abide by when it comes to the security of their property. So, when can a landlord change the locks?
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A property expert has taken his pick in a premiership of sorts, highlighting the town or city in each state where he predicts will see the greatest improvements in property value. Here are his top picks and his reasons for predicting them across each of Australia’s six states: Victoria – WarrnamboolMedian house price: $360,000Capital growth for the year ending October 2019: 4.3 per cent Rents increased by 8.8 per cent over the last 12 months, while the number of listed properties for sale has fallen 27 per cent. Queensland – CairnsMedian house price: $420,000Capital growth for the year ending October 2019: 1.2 per cent Transport infrastructure is also set to expand in 2020, inclusive of airport work, seaport upgrades and major highway projects, while a world-class convention centre should also begin construction in May. South Australia – Victor HarbourMedian house price: $360,000Capital growth for the year ending October 2019: 1.4 per cent A lifestyle location and local tourism hotspot, Mr Pressley has flagged how new federal and state government investment, the approval of a new hotel and opening of a new shopping centre are all indicative of the town’s potential. While the market has been flat for a number of years, he pointed out that household rents did increase by 9.5 per cent last year while sale supply dropped 19 per cent. Tasmania – KingboroughMedian house price: $550,000Capital growth for the year ending October 2019: 1.9 per centTasmania ended 2019 as Australia’s fastest-growing economy. As a municipality making up Greater-Hobart, it makes the list of Australia’s best-performing property market for the last three to five years. Western Australia – NedlandsMedian house price: $1.48 millionCapital growth for the year ending October 2019: -8.2 per centProperty prices in Perth’s inner-west Nedlands municipality are lower today than they were 10 years ago. With the Western Australian capital economy seeing slow improvement, and the previous housing oversupply mostly absorbed.While not expecting Perth’s property market “to set the world on fire any time soon”, property experts says that 2020 will produce the first year of growth for some years. New South Wales – ForbesMedian house price: $250,000Capital growth for the year ending October 2019: -6.3 per cent Forbes has a population of just 10,000, but it hasn’t stopped the town from recording a 5.3 per cent average annual growth in median house prices over the last 20 years. Read more:x Predicting each state’s biggest price improver f... A property expert has taken his pick in a premiership of sorts, highlighting the town or city in each state where he predicts will see the greatest improvements in property value.
0 Reply 86 Views 2Mo ago


House values lifted in every capital city throughout January with four reaching record new highs. According to CoreLogic’s February market report, Hobart, Brisbane, Canberra and Adelaide recorded peak home values in the first month of the year. Hobart Hobart recorded the highest annual change in dwelling values, up 5 per cent in the twelve months to January. The rate of return on investment is now at 10.5 per cent, with a median house value of $481,665. The southern city also has the tightest rental market in the country, with rental rates rising 5.8 per cent over the past twelve months. Brisbane Brisbane property values rose by 0.5 per cent in January and 2 per cent over the quarter. Annually, values have increased by 1.1 per cent. Canberra Canberra followed Hobart in terms of an annual change in property values, rising 3.1 per cent in the twelve months to January. The median property value is now at $630,078. According to the Housing Boom and Bust Report released by SQM Research, Canberra is forecast to offer consistent improvement and remain in healthy positive territory in 2020. Adelaide Adelaide property values lifted by 0.2 per cent in January, with a median property value of $437,411. The city is expected to see market conditions continue to improve due to rising population fuelling housing demand and a relatively healthy housing affordability in comparison to other capital cities. Other cities While Sydney and Melbourne continue to lead the market rebound, they need to lift a further 5.4 per cent and 1.2 per cent respectively before posting a full nominal recovery. It’s expected that Perth and Darwin will take much longer to recover after experiencing a slump of more than eighteen months. Perth has started to show signs of recovery however will need to recover a further 21.3 per cent to surpass its 2014 peak. Darwin, on the other hand, remains 31.8 per cent below peak. Source:x Four capital cities reach record high home values Property values lifted in every capital city throughout January with four capital cities reaching record new highs, according to CoreLogic’s latest report.
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