Brisbane property investment hotspot revealed
Accumulating wealth through property investment is an attractive option for many Australians, but there are a number of important considerations that must be kept in mind when making a real estate purchase.
Location, rental vacancy rates and economic conditions are all factors that will influence a buyer's decision, with the three determining how profitable an investment will be.
For those considering a residential property investment in Queensland, Logan Central has been identified as the most lucrative Brisbane suburb to buy a unit in.
According to RP Data figures, Logan Central delivers the highest yields for units in Brisbane, with average house prices hovering around $150,000 and median rents sitting at $250 per week for units - recording a gross yield of 8.7 per cent.
Located 20 kilometres south of Brisbane city, Logan Central boasts a growing population and its own central business district - factors that may enhance its appeal among investors.
RP Data revealed that unit prices have plummeted 42.7 per cent in the area over the last year, with the Real Estate Institute of Queensland figures showing property values have decreased 15 per cent during the September quarter.
As Logan Central's population grows and employment prospects improve in the region, the area is likely to see an increase in demand for property - meaning now could be a good time to snap up real estate in the affordable postcode.