Hi all. This is my first post, so hope someone can help.
Im 21 and and am very interested in purchasing an investment property with my girlfriend. We have been looking at the new area of Spring Farm in Campbelltown. House and land packages are quite cheap there, but I want to know how good rental returns will be.
Is there a website that will show me history of rental returns or to find out if many people are renting in the area to determine if the area would be good for an investment?Any help would be much appreciated.
As it is a reasonably new area, there probably isn’t much by way of comparable rentals or history.
Are there any websites or anyway to find out if the rental market is high in certain area?
You can check out the API magazine- that has statistics on what the vacancy rate is. However, as SNM has said, if it is a new development, there is probably not many people renting there and the statistics may not be available yet.
Cheers,
LukeHave a chat to a few real estate agents that are selling out there & maybe check the surrounding area rental returns.
Hello,
Local gents can be a good source of info.
Angel
Hello
The best thing for you to do is have a look around at the rental yeild the area has to offer as well as the demand for property in this area. Sometimes the cheapest is not always the best investment
Rent potential
Demographics
Transportation
amenities
growth per annumthese are just some things to look for when looking for an investment.
The more demand the more easy it will be to lease out your property.
http://www.sqmresearch.com.au is useful for ball park vacancy rates, which are a useful indicator of rental demand. Obviously the lower and more consistent the better.
http://www.myrpdata.net.au has a free suburb profile tool which will give you some basic demographic info i.e. ratio renters to owner occupiers, as well as the break down in household types and incomes.
As already indicated API magazine has generalised rental yields for each suburb in the stats section at the back, but in all honesty the data isnt the best quality IMO, and you’re much better off working it out for yourself on each potential investment.
Good luck though. The market it full of opportunities at the moment if your a counter cyclical investor like me, just follow the golden rule of research, research, research.
Why don't you check out the rental section of http://www.realestate.com.au and see what's renting in that area and the prices advertised? Maybe call a few local agencies and ask them the questions you would like to know.
You can also try price finder, they have a section of the website that lists all the info your after… however it does require a fee.
CoastalHolidayRentals wrote:Why don't you check out the rental section of http://www.realestate.com.au and see what's renting in that area and the prices advertised?
That’s what I was thinking. Even if it’s a new estate, there should be some established dwellings nearby that you could draw a comparison from.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Thanks guys, Im taking all this advice on board. Ive bought api and found it very useful as well as the recommended sites.
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