The apartment that exposes the depth of Australia's rental crisis

A studio apartment in North Adelaide with a shower and toilet in the living room is on offer for $400 a week, promising a lifestyle “that everyone deserves”.

Adelaide’s ongoing tight vacancy rate – the most taut of any capital city in Australia – has been defined as a rental market in crisis.

The listing for 4/201 O’Connell Street includes a photograph that shows a partially-frosted glass cube housing a loo, shower and basin, wedged between the kitchen and a living room fireplace.

The bed is only metres away.

The shower itself does not have a screen and is exposed to the vanity and toilet.

$400

4/201 O'Connell Street, North Adelaide SA 5006

1

1

-

View property

The listing agency, Ray White North Adelaide, calls the configuration a “great sized bathroom” in the advertisement.

No cooking facilities (an oven or stove) appear on the floorplan, and none are to be found in the listing pictures.

The studio comes furnished and the weekly sum includes utilities and internet costs.

“Just bring your clothes and move into this gorgeous property in the heart of prestigious North Adelaide. This spacious, fully-furnished upstairs studio offers the lifestyle that everyone deserves,” the listing says.

Adelaide is Australia’s most competitive rental market, with the most compressed vacancy rate, according to Domain data.

“This resulted in a rental crisis with a lack of available rentals creating a difficult environment for tenants looking to lease,” Domain Research division said in a report published on June 1.

Figures for April and May this year show Adelaide’s rental vacancy rate has been unyielding, holding at 0.3 per cent – the lowest nationally, and a drop on 0.6 per cent recorded at the same time last year.

The national average vacancy rate is 1 per cent and the highest median value cities of Sydney and Melbourne sit at 1.4 per cent and 1.6 per cent respectively.

The listing was first reported by the ABC.

Other apartments in the historic building have been rented out by Ray White North Adelaide.

These include a studio at 1/201 O’Connell Street, which has a separate bathroom and was tenanted in April this year for an unknown price, and 2/201 O’Connell Street, a dual-level apartment with an unusual floorplan of two kitchens. One is located next to the main bedroom, which does not have a door, on the mezzanine.

Apartment number 2 is still available to rent for $500 to $520 per week.

Ray White North Adelaide principal Rachel Lawrie said in a statement via Ray White’s spokesperson that the residences were former Airbnb studio apartments and “fully compliant with all council requirements”.

“People may think they are small but they are a fully furnished studio apartment and the weekly rent includes all utilities and internet included so there are no extra outlays,” Ms Lawrie said.

“Just bring your clothes.”

The statement explained there are seven apartments in the O’Connell Street building and said Ms Lawrie helped three previous tenants move out with “excellent references to re-lease elsewhere”.

“These units are ideal for short term stays in an outstanding location,” Ms Lawrie said.