To determine the best investment property suburbs in Australia, our team researched the rental market in hundreds of suburbs around the country, ranking them based on the average rental price, rental yield and rental growth. Read more here.
Rental prices in the past 12 months have reached an all-time low, according to a recent report published by Hood. Approximately 500* suburbs across the country are included in this study, which are considered to be best investment properties market, which breaks up the average quote and other details of each location’s economy into three categories: affordable, mid-range and top-end, that shows high rental yield (*500 may not seem like a lot when you consider that Australia has hundreds of suburbs in total.)
Rent for suburbs included in the top 10 rankings increased by at least 32%, and, in most cases, vacancy rates were under 1%. In particular, Waterford, Doonan, Flaxton, Dulwich, Wulagi, North Avoca and Shoalhaven Heads had vacancy rates of 0%, but this doesn’t, however, mean there are no vacant rental properties: Hood clarified that properties are only regarded as vacant when they’ve been on the market for more than 21 days.
Below are the top 10 suburbs and their median weekly rent for houses and units, ranked in the order of likelihood for rent to increase:
Although most of the suburbs on this list are located along the east coast of Australia, the team at Hood believe that there’s more to the story. In a country as big as ours, with such different climates and natural features to offer, it’s hard to think that we can expect a clear trend to emerge.
However, what is certain is that Australians have become much more interested in where they live (wherever that may be). That’s reflected in these statistics about moving house and shows that families and couples alike are looking for places which provide entertainment opportunities but also have easy access to local resources like shops and parks.
The diversity of these suburbs is certainly something worth noting because whether you’re looking for a sea change or a tree change or just somewhere fun for your kids to grow up in, it seems that almost every state capital has got something for you, making it a perfect market for investors.
If you are planning for a investment property in Australia and want a free property report click here and our team will send you the complete property to your email ID.
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