Suburbs in big league for rentals
TOWNSVILLE has five of the best-performing suburbs in Australia for rental yields, a report by Corelogic has found.
The September Top Rental Performers list revealed 100 suburbs around the country where finding a positively geared investment was most likely.
According to Corelogic research analyst Cameron Kusher, the areas to make the grade as the “best for rents” demonstrated solid rental yields of five per cent or more, consistent rental growth and vacancy rates of less than 3 per cent.
The Townsville suburbs which made the cut included West End, which came in at number 24 in Australia.
Owner of an investment property on Harold St in West End, Danielle Henry, said she often rents the unit out on Airbnb, generating about $500 per week.
Ms Henry has recently put the two-bedroom unit on the market for $165,000 to buy her forever home on the Sunshine Coast.
“I’ve had it on Airbnb for about two years now with it fully furnished and it’s tenanted 94 per cent of the time,” Ms Henry said. “It’s averaging between $450 and $500 per week in rent so the return is phenomenal.
“In comparison to anywhere else on the Sunshine Coast it was half the price to buy in West End.”
REMAX Excellence agent Michele Hyde, who has sold multiple properties in West End, said it was the affordability and convenience to the city which attracted people.
“I sell a lot of properties in West End, particularly Queenslanders,” she said.
“I think it’s quite popular among buyers and renters because of its location.
“It’s much more affordable than North Ward or Belgian Gardens but it offers the same lifestyle.”
The second Townsville suburb to make the Top Rental Performers list was Heatly, which came in at number 28 in the country.
The other three Townsville suburbs which made the list were Cranbrook, which was ranked 37, Kirwan at 84 and Aitkenvale at 86.
The Top Rental Performers list also featured 43 other Queensland suburbs.