Adelaide rents now more expensive than in Melbourne

Adelaide's rental market has undergone a massive price surge over the past five years, pushing it beyond the cost of living in Melbourne. 

Recent data from the Rental Affordability Reports revealed a staggering 55 per cent increase in the South Australian capital's average rental price since March 2020, up to $580 per week – $10 more than Melbourne.

The trend has pushed Adelaide's rental affordability to a record low, prompting the state government to unveil a suite of affordable housing allotments in the northern suburbs.

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Nearly 300 new housing allotments will be released in Munno Para, an extension of the Playford Area development. 

The initiative aims to provide opportunities for first-home buyers and those seeking affordable rentals.

"It's a great chance for young home buyers to get out of their parents' home and into their own home," Housing Minister Nick Champion said. 

Twenty-five of the 282 blocks of land in the new development will be dedicated to affordable rentals. 

This article was produced with the assistance of 9ExPress.