Moorooka, Greenslopes and Brisbane City top the unit yields in Brisbane suburbs: REIQ

Alistair WalshApril 17, 20130 min read

Investors in Queensland stand to earn yields of up to 6.4% on Brisbane units, according to statistics released by the Real Estate Institute of Queensland.

The top ten yielding postcodes for units in Brisbane are led by Brisbane City along with Moorooka and Greenslopes - all with a gross yield of 6.4%.

The median price in postcode 4000, which includes Brisbane City and Spring Hill, is $438,057 with rents at $542.

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Property Observer undertook a survey of current rental listings to ascertain the actuality of the statistically derived figures with the live marketplace. The random results suggest a correlation, with perhaps the weakest being Greenslopes.

In Brisbane City a two-bedroom, two-bathroom unit in 347 Ann Street (pictured below) is listed for sale in the mid to high $400,000s. It currently rents via a corporate letting firm for $540 per week unfurnished. If it sold for $475,000 it would give a potential gross yield of 5.91%.

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It is being sold by Alexander Veal from Next Property Group Brisbane.

Also in Brisbane City is a two-bedroom, two-bathroom unit in 120 Mary Street is listed for sale at $489,000. Marketing for the property suggests a potential rental of $660 to $690 per week giving a potential gross yield of 7.34%.

It is being sold by Tom Kralikas from North South Real Estate.

And unit 1003 at 92 Quay Street Brisbane City is listed for sale at more than $495,000. It currently rents at $650 per week giving a potential gross yield of 6.83%.

It is being sold by Justin Hagen from Calibre Real Estate.

According to RP Data Brisbane City unit prices increased 4.3% in the last year.

 


The median price in Moorooka, six kilometres south of the CBD, is $287,500 with rents at $355 per week, according to the REIQ.

A two-bedroom unit 1 at 28 Hamilton Road, Moorooka, (pictured below) is listed for sale at more than $279,000. According to RP Data it was last listed for rent at $340 per week in January 2012. This would give a potential gross yield of 6.34%. It last traded for $200,000 in 2010.

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It is being sold by Wayne Hankinson from Go Gecko.

A two-bedroom unit 2 at 116 Chaucer Street Moorooka is listed for sale at more than $390,000. According to RP Data it was last listed for rent at $400 per week in 2012. This would give a potential gross yield of 5.33%. It last traded for $390,000 in 2009.

It is being sold by David Cotterill from Belle Property.

The median price in Greenslopes, 4.5 kilometres south of the CBD, is $293,500 with rents at $362 per week, according to the REIQ.

A two-bedroom unit at 3/58 Douglas Street Greenslopes is listed for sale at more than $310,000. It is currently rented at $290 per week giving a potential gross yield of 4.86%.

It is being sold by Di Dent from Harcourts.

A two-bedroom unit at 51/38 Palmer Street Greenslopes is listed for sale at $345,000. It currently rents at $385 per week giving a potential gross yield of 5.8%.

It is being sold by Matthew Griffiths from RE/MAX.

Outside of Brisbane, the highest unit yields in Queensland are found in Holloways Beach and Yorkeys Knob in Cairns, as well as Chinchilla in the Western Downs, both at 8.2%.

The Logan City localities of Woodridge and Slack’s Creek are next at 7.8% and 7.7%.

 

Alistair Walsh

Deutsche Welle online reporter
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