Top Investor Markets
Predictions of further rent rises mean investors who have bought in the right locations will be reaping the benefits, according to an analysis by Suburbtrends.
Managing director, Kent Lardner, says the rental market is poised for further increases in 2024.
Lardner says while property prices are also rising, some suburbs, particularly those with strong unit markets, still offer good investment opportunities and “robust rent growth”.
His top 20 affordable unit investment suburbs based on forecast rent growth are headed by the South Australian suburban area of Goodwood and Millswood with a median of $452,000 and a yield of 5.2%.
The top location in Western Australia is the Mosman Park, Peppermint Grove area with a unit median of $350,000 and yield of 7.1%. In Queensland it is Corinda ($520,000) with a yield of 5.0% and in the ACT, Hackett ($345,000) with a yield of 6.3%.
The report says on average Australian renters will have to allocate 32% of their household income to rent by December 2024.
