Residential vacancy rate remains at 1% in Bundaberg: HTW residential

There has been a moderate amount of sales of flats in Bundaberg over the past 18 months, according to a recent Herron Todd White (HTW) residential report. 

The valuation firm took a look at rental yields across the nation. 

"The sales range from an older style 1970s eight-bedroom, four- bathroom flat complex which sold for $550,000 with a weekly gross rental of $920, giving a gross yearly rental of $47,840 providing a gross yield of 8.6%, to a more modern on ground, circa 1994, brick, eight-bedroom, four-bathroom flats building which sold for $615,000 with a weekly rental return of $830 giving an annual return of $43,160 and a yield of 7%," the valuation firm said. 

The report notes the most recent sale was an on ground, circa 2018, brick flats building.

It provides eight-bedroom, four-bathroom accommodation for $965,000 providing a gross yearly rental of $60,320 which is a gross yield of 6.2%.

The REIQ residential vacancy rate for Bundaberg remains at about 1%.