Are you searching for a perfect or ideal suburb to invest in a duplex build? Well, here are top undersupply suburbs you should consider for your duplex build in Queensland.
For many duplex property investors, predicting the future of any given property market is an everyday wish. Add knowing where to exactly invest in a duplex build in the coming years and you have a dream come true scenario for any property investor. Unfortunately, chances of any of these two actually happening are close to none.
Despite this fact, however, there are few tips property investors can take into account when making a duplex build investment decision to better their results. In this post, we will be looking at one of these tips and that is supply. In particular, we will be focusing our attention on investing in a duplex build in undersupply regions. That said, below we’ve listed undersupply suburbs in Queensland perfect for a duplex build.
Top on the list of suburbs in Queensland for your duplex build is Gladstone Central. This year, this suburb has without a doubt stolen the spotlight from suburbs like Newstead and Graceville. So why is this? Well, demand is outweighing support. In the past seven years, this Queensland suburb has had a healthy vacancy rate of 3.1%. This is a nice decline from its previous rate of 4.2%. Keeping in mind that in 2016 vacancies was at a high of 11.3%, it is only right to expect this rate to fall even further.
- Median Sale Price: $325,000
- Median Weekly Rent: $220
- Median Gross Yield: 3.4%
With this Queensland suburb, demand is very strong for new units. In addition, the supply of units is currently very low compared to demand. Today, the vacancy rate in Townsville City stands at 1.5%. This is huge considering that the vacancy rate was at 4.3% just a few years ago. With Townsville, however, it is important to factor in the February floods when mentioning its vacancy rate. So why is this? Well, these floods resulted in a dramatic drop in Townsville’s vacancy rate.
That said the property market in Townsville is slowly picking up. With this progress, experts forecast a bright future for this Queensland suburb. Experts expect Townsville’s vacancy rate to ease to a healthy range as the months go by. Currently, experts predict a vacancy rate of between 2.5% and 3.5% by 2020. What all this adds up to is making Townsville City a perfect suburb for a duplex build.
- Median Sale Price: $528,000
- Median Weekly Rent: $350
- Median Gross Yield: 3.5%
Fraser Island is another suburb in Queensland that’s perfect for a duplex build. With Fraser Island, you get a suburb that has a strong property market that’s also on the rise. In addition, residents in this Queensland suburb earn a high income. As an investor, you want to invest in a duplex build in such an area. In case you are wondering why, well, it increases chances of you being profitable with your investment. Other than these three, Fraser Island has a very tight vacancy rate. In fact, it has the tightest vacancy rate among suburbs in Queensland.
Currently, Fraser Island has a vacancy rate of 1.1%. Because of this, renters find it hard finding a listing of a property in this suburb in any of Australia’s popular listing portals. As a matter of fact, tenants in Fraser Island are struggling for choice when it comes to finding units to call home. Add these together and you can clearly see why this suburb is perfect for a duplex build.
- Median Sale Price: $365,456
- Median Unit Value: $255,169
- Median Weekly Rent: $210
For added information on all things duplex build and which suburbs to invest in Queensland, do contact Duplex Invest. We encourage you to call us in the event you want to talk to us. You can do this by dialling 1800 600 098. You can as well send us an email at firstname.lastname@example.org.