South East Queensland, Gold Coast rental yields very healthy
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According to the Domain Group’s chief economist Dr. Andrew Wilson “Prices up to now have been a bit flat in Sydney, and vacancy rates low while rents are quite moderate, it means yields are higher in South East Queensland than in Sydney and Melbourne,”
This is how the Domain Groups figures read for yields:
- Sydney, are 4.1% for houses and 3.3% for units
- Gold Coast they are 4.4% for houses and 5.3% for units
- Brisbane reporting 4.8% for houses and 5.1% for units
House rents showed a rise of:
- 2.2% on the Gold Coast
- 2.5% in Brisbane’s 2.5%
- 1.9% in Sydney
Unit rents over the same period shot up by:
- 5.4% on the Gold Coast
- 2.7% in Brisbane
- 4% in Sydney
South East Queensland and the Gold Coast in particular is a very attractive part of the world to invest because of the quality of building standards being produced.
There are many resort-hotel-style developments and residential buildings with beautiful rooftop entertaining and dining areas with excellent infrastructure in commercial components which appeal to the downsizer market and first home buyers who are really falling in love with them.
“We have developers from Sydney saying it’s impossible to replicate those sort of projects because the cost of land and construction costs are so high where they are. But here, you can afford to create these stunning buildings.”
“Why wouldn’t you buy a beautiful apartment on the beach here, when you can barely get a tiny unit in Blacktown for the same money?”
Apart from anything else, there’s people pressure with Brisbane’s population growing at a faster rate than Sydney and Melbourne.
Brisbane is expected to experience 44% growth over the next 20 years to reach 3.4 million which exceeds that expected for both Sydney and Melbourne at 32% and 40% respectively.
The obvious potential for growth is right here, right now and those investors, downsizers, and first home buyers who do not take advantage now will simply miss the boat.
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