The best Qld suburbs to invest in for $500k or less
The best suburbs in Queensland for investors looking to spend $500,000 or less have been revealed. Here’s where to look.
Property
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INVESTORS with $500,000 or less to spend should look well outside Brisbane’s city centre for the best buys and rental potential.
Exclusive new data from PropTrack has revealed the house and unit markets with the best budget investment opportunities, based on rental yield, demand and price growth.
The research shows entry-level investors should target the Ipswich area for maximum returns, with Riverview and One Mile the top-ranked suburbs for houses under $500,000.
Both deliver yields of 5.6 per cent, with 48 and 27 per cent more demand for rental properties respectively, compared to the regional average.
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The best-performing unit markets for investment properties under $500,000 are Holloways Beach in Cairns, Loganlea and Brendale.
“Unlike if you are buying as an owner occupier, when you are investing you’re not constrained to where you live, so that can open up a range of more affordable options,” PropTrack economist Angus Moore said.
“You may not have sufficient deposit to buy a home where you want to live, but you can find units in Queensland for $300,000, which may be a much more viable purchase for a first-time investor than an apartment in inner-city Brisbane, and rental yields tend to be higher in regional areas as well.”
Cohen Handler Queensland managing director Jordan Navybox believes the best time for investors to look at buying is between now and the end of the year.
“Investors are in the market because rents have risen so much in Queensland,” Mr Navybox said.
“Buyers here are always led towards houses, but there have been issues with demand so there’s now a high demand for apartments because we’re seeing yields over five per cent at the moment.”
Rachel Bryce, a buyer’s agent with Joanna Boyd Buyers Advocate, said her client base of investors had grown significantly in the past year.
“Brisbane’s property market and some parts of Queensland are still holding up strongly despite the several interest rate hikes from the RBA,” she said. “This is not the case for our southern counterparts, therefore the spotlight is on Brisbane.
“With the rental crisis, property owners can be sure their investment will be occupied and rent is actually at its highest.”
InvestorKit founder and head of research Arjun Paliwal forecasts continued capital growth in regional Queensland.
“There are still plenty of regional areas with an undersupply in both properties for sale and rent, booming local job markets, a strong outlook of infrastructure development in the pipeline, accessible lifestyle, and affordability,” Mr Paliwal said.
He highlighted the markets of Bundaberg and Hervey Bay in the Wide Bay region.
TOP QLD INVESTOR MARKETS $500,000 AND UNDER
HOUSES
1. Riverview
2. One Mile
3. Eagleby
4. Norville
5. Eastern Heights
6. Booval
7. Bundaberg North
8. North Booval
9. Scarness
10. Walkervale
UNITS
1. Holloways Beach
2. Loganlea
3. Brendale
4. Nerang
5. Waterford West
6. Arundel
7. Helensvale
8. Booval
9. Murrumba Downs
10. Deception Bay
(Source: PropTrack)
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