[Mm44Participant@mm44Join Date: 2017Post Count: 4]

September 21, 2017 - 12:16 pm

Christ! $405. My pipe dream will be shot down in flames!

How is the figure of 3.2% even reached? What’s the formula there?

There’s no units but it’s a real mix. Executive properties at the top end, I can’t find old listings now but I think rented for around 700pw and I’ve seen granny flats recently for around 280pw (on gumtree). To me, knowing the few rented houses in the immediate vicinity to me and what they are – 1970s/80s- that figure would sound about right for an average really.

I agree, My property is very unique (I’m thinking not in a good way for maximum rental return) in the 2 bed upstairs, 1 down. Not particularly suitable for young families, Public transport is horrendous and not near any cafes or anything, so not ideal for students sharing.

In the rumpus is a full snooker table and bar – so would suit a couple who like to entertain, have space for guests etc. Which is what we intended I suppose. Long term plan is internal stairs for combined upstairs/downstairs.

Will speak to some local agents about it, thanks so much for the help!

[Mm44Participant@mm44Join Date: 2017Post Count: 4]

September 20, 2017 - 3:43 pm

Thanks so much Benny! I’m relieved the end result from going down the removal house track and putting in the work has proved a good option, as it was all we could afford to do at the time!

Yes sorry it’s in Brisbane. 20km from city.
I don’t want to say where because its a tiny suburb that is tightly held, maybe <5 properties a year sell, 2 rented? Lovely, quiet area.

IMO It was previously a high performing suburb but has become stagnant compared to the surrounding areas performance in recent years.

Median price nearly 660k
Rental yield 3.2% (apparently, I’m just quoting one website that says so when others say not enough data )
Avg rent 495 which seems not great?
4 bedroom recently rented for 495 (perhaps it’s been the only 1 this year and that is where that avg comes from)

I was kinda hoping closer to 550 obviously, so hoping 2 separate living spaces would get it across the line.

• This reply was modified 6 years, 7 months ago by  Mm44.