The highest yielding waterfront suburbs identified
Killcare on the Bouddi Peninsula north of Sydney is Australia’s highest yielding waterfront suburb for houses, according to Real Estate Investar.
Click to enlargeWith a median house price of $725,000 and a median house rent of $2,340, the suburb has a yield of 16.78% for houses.
House prices have dropped 8.81% in the past year while rents have increased 24.46%.
The yield applies to just three-bedroom houses.
Property Observer notes that properties renting at around $2,300 tend to be short term holiday rentals and may not represent year-round fully leased rents.
A three bedroom home at 32 Araluen Drive (pictured below) is listed for short term rent at $2,180 per week. It last sold in 2000 for $550,000, according to RP Data.
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A four bedroom house at 61 Grandview Crescent (pictured below) is listed for short term rent at $3,600 per week. It hasn’t sold since 1992 when it went for $342,000.
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A three bedroom house at 16 Macdonald Street (pictured below) is listed for short term rent at $2,650 per week. It last sold for $1.95 million in 2005.
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And a three bedroom house at 38 Grandview Crescent (pictured below) is listed for short term rent at $1,930 per week. It last sold in 2000 for $595,000.
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Miami, a Gold Coast suburb, is the highest yielding waterfront suburb for units, according to Real Estate Investar.
Studios and one-bedroom apartments have a median price of $110,000 and a median rent of $270 per week giving a yield of 12.76%.
Unit prices fell 25.18% over the past year and rents grew 3.84%.
A two-bedroom unit at 2/84 Dawn Parade (pictured below) recently sold for $387,000. It was marketed for rent the next day at $415 per week giving a yield of 5.58%.
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A one bedroom unit at 26/286 The Esplanade (pictured below) recently sold for $273,000 and was marketed for rent at $290 per week giving a yield of 5.52%.
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In March a one bedroom unit at 35/286 The Esplanade (pictured below) sold for $215,000. In February last year it was listed for rent at $250 per week giving a yield of 6.05%.
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In December last year a one bedroom unit at 8/28 Chairlift Avenue (pictured below) sold for $230,000. Prior to that it was listed for rent at $340 per week giving a yield of 7.69%.
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