Adelaide renters are feeling the pinch as several suburbs show 12-month price hikes of up to $140 a week, a new report shows.

According to CoreLogic’s September 2019 Quarterly Rental Review, an Adelaide renter pays an average of $386 a week, 1.9 per cent more than a year ago, with further rises expected under the State Government’s proposed land tax reform. Toorak Gardens is among a group of suburbs that’s notched price increases as high as 28 per cent, with the average rent now $640 – up $140 from 2018. Walkerville’s median rent jumped by $135 a week, up to $635, while Colonel Light Gardens reported price growth of $120, up to $550 a week.

Suburbs to have recorded rental increases of almost 20 per cent, included Linden Park, Myrtle Bank, Stirling, Eastwood, Kilkenny and Stonyfell.

Many suburbs’ median rental price has gone up 20 per cent in a year. Picture: iStock

While the national property market remains sluggish, with national rents down 0.3 per cent over the past quarter, CoreLogic market commentator Kevin Brogan said Adelaide painted a far different picture.

“Rents in Adelaide have been growing steadily for some time and have shown a 23 per cent increase over the last 10 years,” Mr Brogan said. “Vacancy rates in Adelaide have been relatively low and demand for rental accommodation has been fairly consistent.

“In times of uncertainty, ‘steadiness’ is an attribute that becomes attractive.”

While population growth is one of the main drivers for housing demand, Mr Brogan said it needs to be matched by employment opportunity.

“The range of major infrastructure projects, defence industry and relative afforda-bility of housing are all likely to create additional demand for rental housing and this will continue to exert an upward pressure on rents,” he said.

Real Estate Institute of South Australia president, Brett Roenfeldt, said the rental market would see more price rises from land tax changes.

“We’re already seeing a number of investors that have listed their properties for sale … horrified by the potential implications the changes may have on them,” he said.