Investor hot spots

Coast seven on hit list

QUEENSLAND has dominated a list of 100 best places in the country for rental performance, with seven Gold Coast suburbs taking out top honours.

The latest CoreLogic report, which ranks rental yield figures, saw Reedy Creek, Southport, Labrador, Upper Coomera, Mudgeeraba, Currumbin Waters and Helensvale as investor hot spots.

The Glitter Strip ’burbs joined 35 other areas in the Sunshine State in the nationwide list of suburbs with an estimated gross rental yield of 5 per cent or more a year for either houses or units.

CoreLogic research analyst Cameron Kusher said to make the cut, the suburb had to have delivered “solid rental yields, consistent rental growth and vacancy rates of less than 3 per cent”. He added that finding a positively geared investment was more likely in the top 100 areas.

All seven Gold Coast suburbs featured on the list for their units’ performance, with Reedy Creek leading the pack for the city at No.51.

The suburb’s units had a gross rental yield of 6.8 per cent per annum, a median rent of $430 per week and a median sales price of $350,000.

Southport units followed at No.79 thanks to a gross yield of 6.5 per cent, median rent of $390 per week and median sales price of $375,000.

Labrador was ranked 80 followed by Upper Coomera (83), Mudgeeraba (92), Currumbin Waters (95) and Helensvale (97).

Harcourts Coastal agent Katrina Keegan said the Gold Coast’s expansion of public transport was shining the spotlight on suburbs further out of the CBD.

“Main Beach would usually take the accolade but the public transport expansion is sharing it around,” she said.

Leading the top 100 list was country town Blackwater in the Central Highlands Region, which had a gross rental return of 11.7 per cent.