CoreLogic National housing Update November 2017
November Market Outlook
Making rentvesting work for you
Should you rent to people with pets?
Buying property with friends
Adelaide November 2017
Brisbane November 2017
Cairns November 2017
Canberra November 2017
Darwin November 2017
Gold Coast November 2017
Melbourne November 2017
Newcastle November 2017
Perth November 2017
Regional NSW November 2017
Regional NT November 2017
Regional QLD November 2017
Regional SA November 2017
Regional VIC November 2017
South West WA November 2017
Sydney November 2017
Tasmania November 2017
Wollongong November 2017
CoreLogic NSW housing Update November 2017
CoreLogic QLD housing Update November 2017
CoreLogic SA housing Update November 2017
CoreLogic VIC housing Update November 2017
CoreLogic WA housing Update November 2017
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Regional NT November 2017
The month in review: Regional NT
By Herron Todd White
Alice Springs Property Update
The residential rental market for Alice Springs is generally spread evenly across the residential suburbs for both detached housing and units.
The demand from tenants is also fairly broad with a mix of essential services personnel (education, health and emergency services), trades and the professional services sector.
The bulk of the single dwelling rental market is a 3-bedroom, 1-bathroom home with the median rent being $500 per week (September quarter) but typically ranges from $440 per week depending on location and improvements.
At the upper end of the market, a typical rental property is a 4-bedroom, 2-bathroom home in the suburbs of Desert Springs, Mount Johns, Araluen and Stirling Heights in Larapinta. The 4-bedroom, 2-bathroom market within these areas provides a median weekly rent of $700, however usually ranging from $650 per week.
The largest segment of the unit rental market in Alice Springs is within the 2-bedroom, 1-bathroom market, with weekly rents starting from as low as $260 per week and up to $450 per week. The second biggest unit market is within the 1-bedroom sector with rents generally starting at $250 per week.
We have seen an increase in new supply of units in the rental market for Alice Springs in recent years which has caused lower rents and increased vacancy levels in older stock, creating a need for landlords to make the decision to sell the property or to update and renovate in order to maintain rent levels.
Overall the rental market in Alice Springs is considered to be balanced at present, although we do note seasonal vacancies increase towards December, usually lowering again in late January to early February.
DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.