There are currently more than 150 postcodes across Queensland that record gross rental yields of five per cent or more, according to the latest data.
Figures from the Real Estate Institute of Queensland (REIQ) show that mining regions have particularly strong returns, suggesting that the market has turned a corner over recent months.
Chief executive officer of the REIQ Anton Kardash emphasised that these robust yields show that sales prices had not yet rebounded in the December quarter, although rents had definitely increased.
"REIQ analysis of Australian Bureau of Statistics housing finance data found that the number of investors in the Queensland property market in February had increased more than ten per cent compared to January this year," he noted.
Such strong figures may encourage investors to rent property in Rockhampton, especially as there seems to be so much positivity in the Queensland market at the moment.
The top three performers for gross rental yields for houses were Miles at 9.3 per cent, Russell and Macleay islands with nine per cent and Mount Morgan on 8.7 per cent.
Mr Kardash advised anyone purchasing property for rental purposes to hold on to their investment in the long-term, as this will improve the given rental income.
THE Queensland Government delivered on its promise to support manufacturing in Central Queensland, with the opening of a new Manufacturing Hub at Rockhampton’s CQUniversity campus on Tuesday. Minister for Manufacturing Cameron Dick (who was joined by CQUniversity senior deputy vice-chancellor Alastair Dawson, Member for Rockhampton Barry O’Rourke and Member for … Read more
Despite the 2020 market hitting the ground running, sales have started off low with only two sales breaking the $500k mark in the last week. Most sales, apart from a handful on the coast, failed to fetch prices higher than recent sales suggesting Rockhampton is still some way off former … Read more