Sydney-based investor and founder of buyer’s agency InvestorKit, Arjun Paliwal, said improving rental yields and the prospect of stabilising interest rates were proving irresistible to some.
Sydney-based IT professional and experienced investor, Nilesh Kailas Nagawade, is among those looking to take advantage of the weak sentiment to expand his portfolio.“I think it’s a great time to invest because there is fewer competition and the rising rents can deliver good returns,” he said. Some NSW towns, such as Broken Hill, Moree, and Cobar would likely produce positive cash flow as gross yields rise to 8.1 per cent, 7.5 per cent and 7 per cent gross yields respectively.
“We’re going to see yields continuing to improve because property prices are likely to suffer further. At the same time, vacancy rates are extremely tight across all of our capital cities which will push rents higher.” Within the capital cities, houses in northern Adelaide suburbs such as Davoren Park, Elizabeth Downs, Elizabeth South are earning more than the mortgage costs, with rental yields rising to 6.7 per cent on average.
Within the capital cities, units in New Port in Adelaide’s west have the highest rental yield of 8.2 per cent, followed by Logan Central and Woodridge in Brisbane’s west with 7.4 per cent and 7.2 per cent yields respectively.and waiting to see how far prices would fall would be motivated to return.
two words: record immigration
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