Adelaide’s rental market has experienced a significant surge in prices over the last five years, surpassing the living costs in Melbourne. Latest figures from the Rental Affordability Reports indicate that the average rental price in South Australia has jumped by an astonishing 55 per cent since March 2020, reaching $580 per week—now $10 higher than Melbourne.
This price escalation has resulted in Adelaide’s rental affordability hitting an all-time low. In response, the South Australian government has announced a range of affordable housing allotments in the northern suburbs to address the growing affordability crisis.
Nearly 300 new housing allotments are set to be introduced in Munno Para as part of the Playford Area expansion. This initiative is designed to assist first-home buyers and those looking for affordable rental options. Housing Minister Nick Champion emphasised the opportunity this presents for young homebuyers to transition from living with their parents into their own homes. Of the planned 282 land blocks in this development, 25 will be specifically allocated for affordable rentals, aiming to ease some of the pressure in the rental market.