Rents continue to rise in Emerald: HTW residential
Gross yields on houses in Emerald range from 5% to 7%, according to a recent Herron Todd White (HTW) residential report.
The valuation firm took a look at rental yields across the nation.
"We see this yield for most market segments from $250,000 to $450,000.
"We have seen rents continue to rise across the Central Highlands towns of Emerald, Moranbah and Blackwater over the past two years. Some areas are now looking attractive," the valuation firm said.
For multi-unit flats, the gross yields on sales have shown 7% to 10% regardless of the price point.
The report suggests rents are firming and tightening again as there appears to be another kick in the market currently happening.
In Moranbah the gross yield is moving higher to where some houses are seeing near 10%.
"It’s not uncommon to see a modern four-bedroom home renting at $600 to $650 per week and valued at $350,000.
"Some of the older two-storey homes that might have dual accommodation (upper and lower level) and a total of seven to eight bedrooms (set up for single occupant accommodation) are hitting the gross yield of 10% on a sale price of $350,000," the valuation firm stated.