Mining town named Qld’s top performer for rental yields
A Central Queensland mining town has showed Australia’s highest gain in rental yields, recording a whopping 12.43 per cent increase.
Brisbane-based proptech company Console has made available its latest data findings which scaled the country’s best and worst rental yield performers.
State-versus-state comparative data showed Moranbah was a surprising contender, outstripping southern counterparts in rental increases by as much as 13 per cent.
Console Group’s head of sales 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,” Ms White 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.”
In the sunshine state, other top performing suburbs included Wondai (12 per cent increase), Blackwater and Tannum Sands (nearly 10 per cent increases), and Boyne Island and Gracemere (nearly 9 per cent increases).
Western Australia also took some of the top 10 list with high performers including Newman (11 per cent), Hamilton Hill (10.8 per cent) and Armadale (9 per cent).
“The 10 lowest performing suburbs were all from New South Wales and Victoria; unsurprising considering the impact of the pandemic across those regions during the past 12 months,” Ms White said.
Australia overall recorded a 0.31 per cent rental increase while New Zealand was sitting happily at more than 6 per cent.