Incomes don’t tend to vary too wildly over most of the east coast of Australia; but prices of property certainly do.
And that makes South East Queensland, with prices of houses and units roughly half of what you’d pay in a city like Sydney, look like a real bargain.
In addition, rental yields are much healthier too, says Domain Group’s chief economist Dr Andrew Wilson.
“Because prices up to now have been a bit flat there, and vacancy rates low while rents are quite moderate, it means yields are higher than in Sydney and Melbourne,” he says.
While rental yields in Sydney, for instance are 4.1 per cent for houses and 3.3 per cent for units, on the Gold Coast they’re 4.4 per cent and 5.3 per cent respectively, with Brisbane reporting 4.8 per cent and 5.1 per cent, on Domain Group figures.
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