In 2019 our first Australian franchise business kicked off in Queensland. This wasn’t something we did lightly. A lot of successful NZ businesses have struggled over the ditch and we are only too aware of how different the system is there for property management, compared to here. Kerry Reiterer, our Queensland franchise business owner is really only a ‘make believe’ Aussie. Although she now calls Australia home it’s a little-known fact that Kerry was born and raised as a Southlander. No wonder she’s so good at what she does. Kerry’s been a property manager in Australia for around 20 years now and knows the industry backwards. Her business is flourishing so much that her husband will soon be joining her and her property manager in the business. If you’ve been thinking of looking into investing in the Australian market, then you’d do a lot worse than picking up the phone and having a chat with Kerry. Here’s what Kerry has to say on the state of the market on the Sunshine Coast-
The Real Estate Institute of Queensland have brought out their quarterly Market Monitor and it states that currently the Sunshine Coast has the lowest number of rental vacancies of any major region across the State. We are sitting at 0.4% vacancy with some areas within Sunshine going as low as 0.3%. And that’s the lowest vacancy recorded since 2005.
Since COVID more people are now working remotely so with this and all the new infrastructure getting built in our region, and not to forget our lovely beaches, no wonder we are getting investors and tenants here in droves. Sunshine coast compared to other major cities still offers comparatively affordable housing hence why a lot of New Zealanders are making the decision to invest here.
The median weekly rent of a two-bedroom unit on the Sunshine Coast increased 7.9% to $410 between December last year and the year before while the median weekly rent for a three-bedroom house grew by 6.5% to $490 over the same period.
Robust sales price growth is starting to impact yields, but most investors would be more than happy with the capital growth they are achieving in their portfolios. The gross rental yield for units is currently 4.7% and for houses it is 3.8% on the Sunshine Coast.
What we offer our neighbours in NZ here at Propertyscouts Sunshine Coast is our knowledge on the area should anyone be looking to invest here. Finding out your potential yield before purchasing is so important in this changing market. Should you be looking for a long-term investment with permanent tenants or maybe something you can holiday in yourself for part of the year and holiday let the other times, I would love to help. email@example.com