CQ landlords reap high rental yields
Landlords have reaped some of the highest rental yields from their properties in Central Queensland, with new statistics showing they are among the best performing places in the country.
Property management software company Console has released its latest data findings of the best and worst rental yield performers in Australia, with Queensland being the state with the third-greatest growth in yields during the COVID pandemic.
The sunshine state was only beat by Tasmania and Western Australia.
Rental yields are measurements of the profits that property owners generate from their investments, with higher yields representing more money coming in.
The Isaac Region town of Moranbah showed the highest gain of rental yields with a 12.43 per cent increase, according to Console's data.
The next most performing town is the South Burnett town of Wondai with a 12 per cent increase.
Blackwater and Tannum Sands in Central Queensland follow next with nearly 10 per cent increases, and Boyne Island and Gracemere at nearly 9 per cent increases in rental yields.
Console head of customer success and growth Natasha Anich said regional Queensland's yields have had much greater increases compared to metropolitan areas, particularly Melbourne and Sydney which had decreases of about 10 per cent to 23 per cent.
"We've found significant growth since the drop of COVID-19 in these areas in the last 12 months," she said.
"There is quite a shift in demand to live in a regional setting."
With rental availability and affordability being hot topics at the moment, Ms Anich said it was the first time Console had pulled this kind of data from its database.
It is "real time" data from the past 12 months reflecting actual transactions.
Ms Anich said other types of surveys used historical or perspective data instead.
In terms of rent increase, Blackwater had the biggest jump with 9.6 per cent over the past twelve months, with Tannum Sands following at 9.34 per cent and Boyne Island at 8.96 per cent.
Gracemere and Frenchville had the highest increase for the Rockhampton Region suburbs with jumps of 8.95 per cent and 7.26 per cent respectively.
Console's head of sales and property management expert Narelle White said the data provided savvy property managers and agencies the opportunity to get ahead of the market.
"Console Cloud was actively tracking this information for close to 12 months and the results have been quite surprising," she said.
"Many sophisticated principals saw opportunities to expand their business - and in places they might not have considered before.
"During the pandemic, border closures made it difficult for in-person inspections but technologies like Console Cloud made it possible to enable virtual tenant self-inspections which benefited renters and landlords, keeping property management staff safe and sound."