As far as Queensland is concerned, investors are more successful looking beyond the metro and, by the end of 2019, it looks like this trend will continue as the Bundaberg area produces strong rental markets. "
The recent CoreLogic Top Rental Performers Report had four Bundaberg suburbs in its top performing suburbs in Australia, based on gross rental yield (per year). These were Kepnock and Thabeban, each with a yield of 6.6%, Avenell Heights with a yield of 6.9% and Svensson Heights with a yield of 7.2%. These suburbs are safe from flooding and include some of the best locations in Bundaberg, "says Scott Mackey, director of RE / MAX Precision Bundaberg.
Mackey attributes the improved performance of Bundaberg to the region's economic diversity and employment prospects.
"Rents continue to rise in our market, but vacancy rates are at record levels. Combine this with a slowdown in the construction of new inventory and difficult loan requirements for borrowers, and we have a strong demand for clean and maintained properties. With interest rates set to fall again and the amortization of the loan rate to gross rental yield being 3% in many cases, there may never have been a better time to invest in a rental. "
Despite a weaker performance compared to the previous year, the activity of first home buyer also increased in the state during the quarter of June 2019, the number of loans granted to these buyers increasing by 1.6% according to the Real Estate Institute of Australia's Housing Affordability. Report.
Accessibility to housing has declined across the state, with the proportion of income needed to meet mortgage repayments increasing to almost 30%, but the affordability of rent was on the rise. rise, the median family income needed to meet median rents falling to 21.9%.
The underlying strong demand from home buyers and investors from the southern states at a time when yields are attractive and housing affordability is relatively healthy puts a floor under home prices real estate, "said Kate Forbes, National Director at Metropole Property Strategists. ]
"The Brisbane real estate market is very fragmented, and even if its overall performance languishes, properties well located in certain suburbs display strong capital growth."
Forbes highlights upcoming infrastructure projects like Queen's Wharf and Adani Coal Mine as positive indicators for the Brisbane economy, although their effect on the job market is unlikely for some time time.
SUBURB TO WATCH
ASHGROVE: Positivity remains the norm for houses
The Ashgrove real estate market is fairly divided, with homes enjoying steady growth even as the unit market has been declining steadily.
Housing prices increased by almost 20% during the five-year period ending in September 2019, and the median value exceeded the $ 900,000 mark. In contrast, unit values ??fell 2.1% in the same period, and the median price fell to less than $ 450,000.
These contrasting trends are also found on the rental market, house rents increasing by 3.4% over the year until July 2019 for a weekly average of $ 600. On the contrary, unit rents fell 4.8% to an average of $ 400 per week.
Rent : House rents increased 3.4% to an average of $ 600 per week
Growth : The house and unit markets have experienced very different growth trends
Main suburbs:
new city
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sunshine
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Narara
,
Nundah
,
fig wood
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