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.Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856
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?luke86Participant@luke86Join Date: 2010Post Count: 470
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.
LukeRenoTeamMember@renoteamJoin Date: 2011Post Count: 92
Have a chat to a few real estate agents that are selling out there & maybe check the surrounding area rental returns.angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270
Local gents can be a good source of info.
AngelDafnnyMember@dafnnyJoin Date: 2011Post Count: 18
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
growth per annum
these 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.mrmonopolyMember@mrmonopolyJoin Date: 2010Post Count: 15
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.CoastalHolidayRentalsParticipant@coastalholidayrentalsJoin Date: 2011Post Count: 8
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.Jamie MooreParticipant@jamie-mJoin Date: 2010Post Count: 5,069CoastalHolidayRentals 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.