Queensland offers 'firm' gross rental yields for property investment
Property investment opportunities in Queensland may attract more investors after firm gross rental yields in the December 2012 quarter.
In a report from the Real Estate Institute of Queensland (REIV), over 150 postcodes were shown to have recorded a gross rental yield of five per cent or more in the quarter.
Areas that offered affordable housing or are associated with mining regions were especially firm with yields from rental properties.
Data like this is important for investors, as the institute recommends considering what a tenant may require when considering undertaking property management for investment properties.
REIQ chief executive officer Anton Kardash said in a statement on April 17: "Our property market has turned a corner over the past six months, and these robust yields reflect that sales prices had yet to fully rebound in the December quarter last year but rents had definitely increased."
By postcode, the top performer in Queensland was Miles, with a 9.3 per cent gross rental yield, followed by Russell and Macleay with nine and 8.7 per cent respectively.
Kardash added that an institute analysis of Australian Bureau of Statistics data found an increase of more than ten per cent in investor numbers in the state property market in February compared to January this year.