Finance advice
Rory O'Rourke

Perth records the highest rental yield growth rate

By Rory O'Rourke

PerthPerth, TAS Perth, WA is rapidly becoming a magnet for property investors throughout Australia because of surging rental yields. The latest figures produced by Australian Property Monitors for the March 2013 quarter show that rental yields for apartments in Perth surged by 11.4% which is the largest growth rate recorded by any capital city in Australia.

Blogger: Rory O'Rourke, O’Rourke Realty Investments

Overall, the gross rental yield for an apartment in Perth is now 5.82% which is much higher than major capital cites in the East Coast such as Melbourne (4.83%) and Sydney (5.14%).

Apartments are traditionally favoured by investors as an asset class because they are low maintenance and the rising demand for apartments during 2013 in Perth has seen the ‘sell out’ of new apartment developments shortly after being launched. 

Competitive property prices combined with rising rents are driving up rental yields in Perth. In addition, there is a shortage of homes both for rent due to an under supply of new properties to meet the demand generated by our growing population.

As we enter the start of a new financial year, many new first time investors will enter the Perth property market to take advantage of these surging rental returns as well as the prospect of rising capital growth rates.

However, first time investors need to undertake careful research before making a decision to purchase because your first investment property can be the key to building a successful property portfolio,” he said.

A new trend in the Perth property market is that more people are buying investment properties prior to buying their own home.  A person can own multiple investment properties prior to buying their own home and still get the first home buyers grant scheme, as long as they did not live in the homes.

There are important tax advantages as all the costs including all the interest is tax deductible.  Our biggest expense is income tax our second biggest expense is indirect taxes.

There is a simple choice – we can pay 46 ½% income tax or pay 5% interest.  The interest is tax deductible (if borrowed for investment purposes) while income tax never will be. Investors can benefit from Capital Growth – because of demand Perth is expected to go through the roof.  Investors should also consider that there are huge advantages in having multiple properties.

Mr O’Rourke added that many first time investors never buy more than one investment property because they make simple mistakes which include:

1. Buying an investment property they would like to live in without thoroughly looking at capital growth and rental return potential.

2. Deciding to buy an investment property close to their owner occupier home rather than looking at investment opportunities throughout WA or indeed Australia.

3. Selecting a property based upon advice of friends or family rather than seeking independent information.

4. Buying an older property which can drain their finances through maintenance costs.

5. Not undertaking a full assessment of the true cost of buying and holding the property. For example, if the property an apartment, there are additional cost issues compared to buying a stand alone house such as strata fees.

6. Selecting the wrong home loan i.e. principal and interest rather than interest only which will help increase cash flow.

7. Buying a property in a location which is not attractive to tenants i.e. not close to amenities such as shops or transport.

8. Purchasing a property in an area where there is an oversupply of properties meaning rents will be low and capital growth rates limited.

9. Trying to select the tenant themselves rather than using the services of a number of reliable property management companies.

10. Buying an investment property with the view to a quick return rather than viewing it as a long term investment and stepping ladder to purchasing a portfolio of properties that will fund their retirement.

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About the Blogger

Rory O'Rourke

Rory O'Rourke

Rory O’Rourke is the principal and licensee of O’Rourke Realty Investments in Perth and has been in the property industry for over 40 years.

Rory is a former Vice President of the International Real Estate Federation (FIABCI) Australian Chapter and was inducted into the International Who’s Who of Professionals for 2009/2010.

He has authored three bestselling books Born Free Taxed to Death, I sold 22 homes in one day and It’s Time… the Republic of Australia.

These books can be accessed at http://www.orourke.com.au/books.html

FROM THE WEB

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In this episode of the Smart Property Investment Show, Dominique Grubisa joins host Phil Tarrant to share her personal story which saw her hit rock bottom with excessive debt during the GFC.

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Dominique unpacks how, by relying on her background in law, she was able to overcome that debt and in doing so develop a unique investment strategy which she believes many can utilise today.

Dominique discusses distressed properties, and how she goes about finding them in order to buy property well below market value. She shares the process of identifying distressed properties as well as the controversy surrounding this buying method.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

RELATED AREAS OF INTEREST:

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More than just bricks and mortar, experts often regard property investment as a ‘game of finance’. As such, a good finance strategy can lead any investor to success.

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To hear more about these services, make sure to tune into this episode of Property Showcase!

 Make sure you never miss an episode by subscribing to us now on iTunes!

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    In this episode of Property Showcase, Michael Beresford joins editor of Wealth James Mitchell to unpack why recent political changes are not reason for concern for Australian investors.<\/p>\r\n

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Many investors who would have been successfully approved for finance last year are struggling now to either begin or continue their property investment journey because of the current financial climate.

In this episode of the Smart Property Investment Show, broker John Manciamelli and Momentum Media director Alex Whitlock joins host Tim Neary to discuss how APRA changes and the royal commission have resulted in a tighter lending economy and what that means for Australian investors.

They discuss what traps investors should avoid if they are trying to obtain finance, the four key growth drivers in a property market and unpacking trust structures while revealing one type of trust that you should miss.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

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AREAS MENTIONED:

Hobart
Bondi
Deception Bay

 

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More than just bricks and mortar, experts often regard property investment as a ‘game of finance’. As such, a good finance strategy can lead any investor to success.

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Getting finance approved in this tightening lending environment

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