Brisbane Olympics set to boost commercial property
Brisbane’s residential and commercial property markets are set to receive a huge boost in property price growth, as th...
New data has found where property investors can locate above average yields in Melbourne, and they’re in or around the CBD.
Modelling performed by the Real Estate Institute of Victoria (REIV) has revealed that the best rental yields can be found with one-bedroom apartments in Melbourne and Southbank at 6.6 per cent and 5.8 per cent, respectively, and Docklands at 5.5 per cent.
The reasoning behind this data, according to REIV president Robyn Waters, is due to their allure to a wide demographic.
“Positive results for these inner-city areas are largely due to their appeal to CBD workers, higher education students and their families as well as retirees, all of whom value proximity to the CBD with all it has to offer and access to public transport,” Ms Waters said.
These markets are also particularly affordable to purchase into, with the median price for one-bedroom markets in Melbourne and Southbank situated at $347,000 and $394,250, respectively, while two-bedroom units in Docklands run for a comparatively pricier median of $620,000.
Stepping up to two-bedroom unit markets, investors can find high yields in Melbourne and Southbank, both at 5.3 per cent.
Much like two-bedroom Melbourne units, three-bedroom Melbourne units also have a yield of 5.3 per cent, according to REIV data.
These higher units are likely to attract attention from property investors, which along with other market influences, this is an outcome Ms Waters would like to see.
“Given the impending interest rate cuts, APRA guidance to loosen lending standards and the results of the federal election which has delivered stability, the REIV hopes to see an upturn in investor activity during the last half of 2019,” she said.