Investor Activity Increases in Queensland
Buyers on the lookout to purchase rentals in Surfers Paradise are likely to be in good company, as new information from the Real Estate Institute of Queensland (REIQ) has shown that investor activity has risen in the state.
According to a REIQ analysis of data from the Australian Bureau of Statistics, investor activity had risen 14.9 per cent in May this year when compared to 12 months ago.
REIQ chief executive officer Anton Kardash stated that this rise may be attributed to the improving vacancy rates seen across the state.
For instance, the rate in the Gold Coast has dropped to 2.6 per cent in June this year, down from four per cent only one year ago.
"While lower vacancy rates means competition for rental properties is greater, it is also attracting more investors, which is good news for our property market," said Mr Kardash in an August 2 statement.
Furthermore, information from RP Data has found that rental yields in Brisbane and the Gold Coast have been posting positive results.
The RP Data-Rismark Home Value Index showed that the yield for units reached 5.4 per cent, while houses reported 4.8 per cent – both encouraging results for owners of Surfers Paradise property investments.