The highest yielding waterfront suburbs identified

Alistair WalshDecember 7, 2020

Killcare on the Bouddi Peninsula north of Sydney is Australia’s highest yielding waterfront suburb for houses, according to Real Estate Investar.

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With 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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Alistair Walsh

Deutsche Welle online reporter

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