John Symond says it’s the "perfect time" to invest with Bella Vista offering the top gross rental yield in Sydney
Now is the “perfect” time to consider buying an investment property, says Aussie Home Loans founder John Symond.
He says there are at least half a dozen suburbs in each capital city where gross rental yields are greater than the cost to repay the mortgage, and in some cases, where rent is increasing year on year.
“It’s the perfect time for the average Australian to consider a move into property investment if they have some money saved,” says Symond.
“Both fixed rates and variable rates are the lowest they have been in years; interest rates can be below 5%, housing prices in some areas are historically low but are starting to move back up, and now investors can earn rental yields between 5% and 10% in some areas," he says.
Figures derived from RP Data analysis show that Bella Vista in Sydney’s outer north west (33 kilometres from the CBD) is offering investors the highest average gross rental yield followed by Ultimo, just on the edge of the CBD.
The Sydney suburbs offering the highest gross rental yields are:
- Bella Vista (11.5%)
- Ultimo (9.0%)
- Wyong (7.3%) plus high rental growth of 24.1%
- Bradbury (7.3%);
- Tregear (7.3%)
- Jamisontown (7.1%)
Source: RP Data