Local property yields results
DESPITE slow capital growth in Queensland through 2010 and recent Cyclone Yasi, NAB Private Wealth general manager David Pourre maintains smart investors can still find value in Townsville property this year.
‘‘ Growth is expected to continue to be slow in 2011, however, there are still some suburbs outperforming others in Townsville, offering respectable gross yields,’’ he said.
Statistics from the Real Estate Institute of Queensland show the best performing Townsville suburbs in the September quar- t e r w e r e Gulliver, Hermit Park, Idalia, Wulguru, Alice River, Bohle Plains, K i r w a n , T h u r i n g o w a C e n t r a l , South Townsville, West End, Burdell, Bushl and Beach, Deeragun and Mount Low – all with gross yields of around 5 per cent.
Mr Pourre said it was suburbs like these that would continue to offer investment potential in 2011 as long as investors did
David Pourre their research and got their financial structures right.
DBA Property Solutions director and property investment mentor Danny Buxton said investors needed to remove the heart and replace it with a calculator.
Mr Buxton said it was essential to research the market value of property in preferred areas by searching the internet and RP Data, attending aucti ons, speaking with estate agents and property specialists and reading newspapers for auction results.