RESIDENTIAL RENTAL Adelaide: Snapshot of Typical Asking Rents (approx) MARKET TRENDS ADELAIDE INNER ADELAIDE MIDDLE ADELAIDE OUTER Typical length of tenancy 12 months (Shorter-term leases can Locations CBD & metropolitan Adelaide Mount Gambier & surrounds Port Lincoln & surrounds be dif昀椀cult; 12+ months preferred) Notice period Indicate if rental Indicate if rental Indicate if rental 2 months price is up, down price is up, down price is up, down Rent Median Rent Median Rent Median Property Pro昀椀le or unchanged or unchanged or unchanged (AUD/Month) (AUD/Month) (AUD/Month) Typical deposit from previous from previous from previous 1 month deposit paid as a bond. quarter quarter quarter Sometimes, may include a 1 Bed Apt/ 1 month rent paid in advance. Townhouse/ 2023-Q4 1,630 1,413 1,174 Unique situations Unit • Standard procedure in AU is to 2 Bed Apt/ make the bond and advance Townhouse/ 2023-Q4 2,043 1,825 1,608 rental payments within 24-48 hrs Unit of approval in order to secure 2 Bed House 2023-Q4 2,238 — 2,043 1,739 properties (very fast-paced and 3 Bed House 2023-Q4 2,716 2,434 2,086 requires prompt approvals). • Negotiation on terms is limited, Vacancy 2023-Q4 0.6% — particularly with the increase in Rates demand for properties in the last Data Source: Real Estate Institute of Australia (REIA) Real Estate Market Facts 12 months. Offering below the asking price will lead to losing a property.