BRISBANE is benefitting from strong rental yields, with the situation likely to get even better over the coming year, says RP Data’s head of research Tim Lawless.
Addressing the Australia national conference on the Gold Coast, Mr Lawless said rental yields for houses in the Brisbane region were averaging 4.3 per cent.
Units were tracking even better at 5.3 per cent, well above the national average.
The annual conference and awards night, sponsored by Quest Community Newspapers, attracted agents from across Australia.
Commenting on the rental market across all capital cities, Mr Lawless said there was likely to be an increase in rental yields over the year with vacancy rates generally averaging below 3 per cent.
``Rental markets are likely to improve over the year with higher rents, which in turn will see improving investor yields,’’ he said,
``It’s great news for investors.’‘
However, the good news did not extend to other sectors of the property market, with Mr Lawless expecting ``challenging conditions’’ for the rest of the year and into 2012.
He said housing undersupply remained an issue, as did a lower rate of population growth in South-East Queensland compared with previous years.
``Brisbane, and South-East Queensland, has poorly handled population growth… it simply means people have stopped wanting to come to the region,’’ he said.
While the average growth of house values in Brisbane had dropped 1.6 per cent in the last 12 months, Mr Lawless emphasised that the situation was different in every suburb, with some areas performing far better than others.
Addressing the Australia national conference on the Gold Coast, Mr Lawless said rental yields for houses in the Brisbane region were averaging 4.3 per cent.
Units were tracking even better at 5.3 per cent, well above the national average.
The annual conference and awards night, sponsored by Quest Community Newspapers, attracted agents from across Australia.
Commenting on the rental market across all capital cities, Mr Lawless said there was likely to be an increase in rental yields over the year with vacancy rates generally averaging below 3 per cent.
``Rental markets are likely to improve over the year with higher rents, which in turn will see improving investor yields,’’ he said,
``It’s great news for investors.’‘
However, the good news did not extend to other sectors of the property market, with Mr Lawless expecting ``challenging conditions’’ for the rest of the year and into 2012.
He said housing undersupply remained an issue, as did a lower rate of population growth in South-East Queensland compared with previous years.
``Brisbane, and South-East Queensland, has poorly handled population growth… it simply means people have stopped wanting to come to the region,’’ he said.
While the average growth of house values in Brisbane had dropped 1.6 per cent in the last 12 months, Mr Lawless emphasised that the situation was different in every suburb, with some areas performing far better than others.
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