Business

Gympie rentals are hot property

NEW property market research has revealed Gympie's rental investment potential is among the highest in Australia.

Onthehouse.com.au released research this week that placed Gympie in the top 4.3% of Australian "suburbs" with strong rental returns and growth.

Gympie is the 52nd top "suburb" with rental investment potential, averaging a predicted growth rate of more than 6% over five years.

With more than 12,000 suburbs containing houses and units across Australia, Onthehouse.com.au's 2014 Best Rent Report identifies the top 59 rental investment areas based on their low-risk ratings and high total expected returns.

The findings are a tighter narrowing of the 150 suburbs included in last year's report.

Onthehouse.com.au consulting analyst John Edwards said something potential investors wanted to hear was that a suburb's future capital return was reasonably strong and "this is what Gympie's predicted growth rate over the next five years indicates".

The data shows current

median value for houses in Gympie is $232,000, averaging a 10-year growth rate of 2.13%. The median rental for Gympie sits at $260, representing a median yield of 5.85%.

"The Gympie region has experienced significant growth in recent years due to its unique location on key road, rail and air transport corridors," Mr Edwards said.

"There are a number of local, State and Federal Government infrastructure developments under way around the city that will offer promising employment opportunities to its residents."

Ray White Gympie co-owner Karen Corbett said: "The Gympie region offers good value for investors as property prices are reasonable and there is a consistent demand for rental accommodation."

"This ensures a good and stable return," she said.

"The rental market is pretty solid at the moment and there are more people coming into the area," a United Property Sales spokeswoman said.

To view reports for properties in Gympie visit onthehouse.com.au.

Topics:  housing property rent

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