Why is it so hard to find a rental in Gympie?
IT IS no secret the Gympie real estate market is booming.
Houses in town are selling for more than they ever have, 6.4 per cent more to be exact, while rural blocks are fetching in the millions.
However, it is not just the home occupier demand that is sending real estate watchers into a spin.
For investors, Gympie's rental market is the hottest in the state.
There is a 0.5 percent rental vacancy rate in town with houses in and around the CBD fetching $290 in rental income on average.
To put that into perspective, if negatively geared, investors can expect to pay between only $50 and $100 a week on a mortgage of about $235,000 with a tenant footing the rest of the mortgage payment.
Gympie's current median house price is $265,000 which harbours a positive rental yield of 5.7 per cent.
Leading real estate website realestateinvestar.com.au has 36.14 per cent of Gympie's population living in rental accommodation.
It is a statistic Century 21 principal Billy Mitchell is catering to.
Boasting one of the region's biggest rental rolls, Mr Mitchell said Gympie had experienced unprecedented rental market growth over the past 12 months.
He thought funding for the Bruce Highway Bypass would further increase investor confidence.
"It's insane,” he said.
"It (bypass) will just open us up more.
"Already we are starting to see more people living here and driving to the Sunshine Coast.”