RDA Murraylands and RiverlandEconomic profile
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Renmark Paringa Council area

Rental listings

At June 2018, the RDA Murraylands and Riverland had a median house rental of $265, $5 lower than the median house rental for Regional SA.

Housing valuation and rental data are a measure of the economic desirability of living in the local area. High and increasing rents are an indication of a strong economy and a desirable area, with access to jobs and services. Units are more commonly rented than houses, and renters tend to be younger than home owners on average. People may rent to be close to employment, entertainment and services, or they may rent while saving to buy a home.

Housing prices often factor in a home ownership premium, but rental costs are a more direct measure of the time-value of living in the area. Increases in rents often have a more direct relationship to employment and demand for housing.

Hometrack 2014-2018, Automated Valuation System

Rental listings
Renmark Paringa Council area20182014Change
Housing value (at June)Renmark Paringa Council areaRegional SARenmark Paringa Council area relative to Regional SARenmark Paringa Council areaRegional SARenmark Paringa Council area relative to Regional SA2014 to 2018
House--------------
First Quartile$220$220+0.0%$200$210-4.8%+$20
Median$265$270-1.9%$230$250-8.0%+$35
Third Quartile$328$320+2.5%$305$300+1.7%+$23
Median Rental Yield6.3%6.1%--5.5%5.5%----
Unit--------------
First Quartile$165$170-2.9%$165$170-2.9%0
Median$180$210-14.3%$180$200-10.0%0
Third Quartile$200$265-24.5%$250$250+0.0%-$50
Median Rental Yield7.1%6.1%--8.0%5.7%----

Source: Hometrack 2014-2018, Automated Valuation System.

Rental listings, 2018
Rental listings, 2018 Third Quartile, Regional SA: $265 Median, Regional SA: $210 First Quartile, Regional SA: $170 Third Quartile, Regional SA: $320 Median, Regional SA: $270 First Quartile, Regional SA: $220 Third Quartile, Renmark Paringa Council area: $200 Median, Renmark Paringa Council area: $180 First Quartile, Renmark Paringa Council area: $165 Third Quartile, Renmark Paringa Council area: $328 Median, Renmark Paringa Council area: $265 First Quartile, Renmark Paringa Council area: $220
Source: Hometrack 2014-2018, Automated Valuation System
Change in rental listings, 2014 to 2018
Change in rental listings, 2014 to 2018 Third Quartile, Regional SA: $15 Median, Regional SA: $10 First Quartile, Regional SA: $0 Third Quartile, Regional SA: $20 Median, Regional SA: $20 First Quartile, Regional SA: $10 Third Quartile, Renmark Paringa Council area: $-50 Median, Renmark Paringa Council area: $0 First Quartile, Renmark Paringa Council area: $0 Third Quartile, Renmark Paringa Council area: $23 Median, Renmark Paringa Council area: $35 First Quartile, Renmark Paringa Council area: $20
Source: Hometrack 2014-2018, Automated Valuation System

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