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Finding the Best Rental Properties in Brisbane
If you are thinking about investing in a rental property, Brisbane is an excellent city to look at. The median household income is almost double the Queensland average and the main demographic is families and mature couples. The median house price is also higher than the rest of the city, which means you could be able to get a higher yield than in other cities.
Top 10 suburbs for rental yields
The inner east suburbs of Brisbane are among the top suburbs for rental yields, thanks to the good quality of life they offer. These areas are family friendly, offer easy access to public transport, and have some excellent schools. They also offer plenty of green spaces and are located near the Brisbane River.
The median house price in these suburbs is well above the Brisbane median. This means that there is high demand and a high rental yield. These two factors will affect the passive income you receive from your investment property. Also, the median rental yield is higher than the median price in these suburbs.
If you’re considering buying a rental property in Brisbane, you’ll want to know the median rental yield for each suburb. This will allow you to see which areas are likely to provide a good rental yield for investors. In terms of rental yields, houses typically have higher rental yields than units. However, if you’re looking for a lower entry point into the property market, you can consider a unit instead.
Avoid high-rise apartments
When it comes to renting rental properties, there are some things to avoid. Generally, high-rise apartments aren’t a good idea. These apartments are built with hundreds of extra apartments that weigh down the value of existing homes. These high-rises tend to have noisy neighbours who will be annoyed if you have a quiet drink at night.
It is also important to remember that rental houses are getting harder to find. Many prospective tenants pre-apply for a home before they even see it, meaning that you might not be able to find a suitable rental property for your family. This is especially true if you are looking for a place for an extended family.
Another thing to keep in mind is the size of the building. Some high-rise apartments are more expensive than others. It is important to check the floor plan of the building before you sign the lease. High-rises are typically four or more stories high. Some high-rise buildings were built to meet housing shortage problems and provide affordable residential spaces. However, they may pose some health risks for the residents. They are difficult to access, hard to ventilate, and can restrict access to natural spaces.
Avoid townhouse complexes
Despite the increasing popularity of the apartment market in Brisbane, there are some important factors you should keep in mind when choosing a rental property. These include the type of apartment you want, location, and price range. Apartments in Brisbane are currently experiencing an oversupply of units and are causing property prices to drop.
The first factor to consider is location. If you can get an apartment within five minutes of the CBD, you’ll have the advantage of living close to the city. If you’re looking for a larger property, you’ll likely need to move further out. If you’re looking to rent a property within an hour’s drive of the CBD, you’ll want to opt for an apartment instead of a townhouse complex.
Avoid new development areas
When renting rental properties in Brisbane, it is best to avoid areas where new developments are ongoing. Currently, there are about 270 000 privately owned dwellings in the Brisbane area. Property owners often prefer to keep their backyards as they are. In fact, one in five properties in the city could accommodate a small-footprint dwelling such as a granny flat. Each granny flat could hold up to 1.5 people. That means about 80 000 additional residents.
If you plan on raising a family, school catchment zones are important. Also, properties near the city centre perform better than properties further away. In fact, a study by Metropole Brisbane found that properties that are near water and the CBD increased in value more than those that are further away.
Another tip for renting rental properties in Brisbane is to choose locations with stable property values. This way, you can enjoy the benefits of the lower-priced property in the area. While some suburbs might be untidy and ugly, they could have excellent rental incomes. For example, the middle-ring suburbs of Brisbane are often great places to invest in rental property, as they feature large and solid homes with land sizes of around 400 square metres. These areas also have strong capital growth and are likely to continue to attract owner-occupiers.