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Rising rent yields to lure investors
The Courier Mail | 27 June 2009
Rental yields of more than 5 per cent and changes to superannuation tax concessions could see investors return to the property market.
Real Estate Institute of Queensland chairman Peter McGrath said the July 1 changes, which limit tax concessions on superannuation contributions, would see more investors turning to real estate.
“There are many opportunities out there for astute investors,” he said.
The top three locations for gross rental house yields in Queensland all showed returns of more than 6 per cent over the three months to March this year.
Sarina, near Mackay, was the market leader, with a yield of 7.1 per cent. Mt Morgan, near Rockhampton, returned 6.5 per cent and Oakey, near Toowoomba, had a yield of 6.1 per cent.
In the unit and townhouse sectors, the highest gross yield was 7.9 per cent at Port Douglas. Woree and White Rock, in Cairns, had yields of 6.4 per cent.
Three Logan suburbs – Kingston, Woodridge and Logan Centre – recorded gross rental yields of 6.3 per cent.
Mr McGrath said Logan Central’s affordability was a big factor in its returns.
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