Property investors may turn to Brisbane
A number of factors must be considered when investing in property. For one thing, it's not just affordable home mortgage rates available - competitive investor loans are currently on offer thanks to the low 2.25 per cent official cash rate.
As well as finance, investors will also be concerned with rental yields and capital growth. The Sunshine State is home to one of the best rental suburbs for both factors, according to a statement from Harcourts Green Living.
Brisbane's Wynnum saw 3.13 per cent capital growth over the last year, a figure that's expected to increase to 7.56 per cent per annum over the coming five years, according to research from Onthehouse.com.au.
"Wynnum is a strong growth market for investors looking to expand their property portfolio, located just 16 km to the Brisbane CBD, 20 minutes to the domestic and international airport and less than an hour to the surf beaches of the Gold Coast," explained Harcourts Green Living Principal David Green on July 28.
While Queensland's average vacancy rate was 3.2 per cent, Wynnum gunned ahead of this with a low figure of 1.25 per cent. Investors looking to maximise their financial opportunities may be encouraged by this seaside suburb's favourable vacancy rate.
"I'm not surprised Wynnum is one of the star performers in the country, it's a great place to live and is fast becoming a central hub for new business and development," Mr Green noted.
Brisbane as a whole may be worth focussing on, if population expectations are anything to go by.
Queensland's population grew 1.9 per cent between 2012 and 2013, according to the Australian Bureau of Statistics. This places it as the third-best state for the fastest population growth.
In the Greater Brisbane area, the growth rate was 2.1 per cent, ahead of the state average.
Those looking to purchase investment real estate may wish to use a home loan calculator and investigate what's on offer in Brisbane.
Image credit: Chris Lofqvist