With regards to investing in regional centres (like Mildura, Wagga, Albury) what would you consider to be a good rental yield and which centres (if any) do you envisage showing good growth also. Am a newbie at this. Thanks for any adivce.
A very general question with far encompasing yield ranges to be applicable.
For me, I have found units in Albury that have a gross yield of high 7's. I'd look for a whole block on one title for around 8 % plus.
On the basis that Albury and Wodonga is quite a large inland hub with significant catchment population, if I were looking at 8 % there, then in Mildura or Wagga I would want high 8's or into the 9's. Not sure about those markets however.
I would consider high single digit or even double digit for large regional properties. I do know lots of doom and gloom in the mining areas but avoid at all cost. Main reason is I can easily get an unit/apartment close to sydney CBD for 6-7% gross rental return.
Not intending on getting into the mining boom or gloom but have been researching Albury, Wagga Wagga and Portland??? Currently own two properties returning around 8% in Midura which is near to where we live but need to venture further afield. Have been researching Adelaide also but feel the market has not bottomed out there yet. Does anyone have any thoughts on Adelaide or more specifically Tranmere and surrounds.
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