As a landlord or property investor, being able to evaluate your investment options periodically is very important. You want to know confidently when to buy, sell, hold or rent out your property. In addition, you want to know when and where to make your investment. With this information, youll be able to successfully build your real estate portfolio while raking in a good return on investment (ROI).
While there is no right answer to questions surrounding whats the best time to invest, there are a few factors you can take into account to help with your decision. One such factor is demand. Landlords and property investors alike should look into investing in areas where demand is here. Choosing to invest in such areas increases your chances of earning money from your investment. Invest in an area where demand is low and chances of you earning money from your investment diminish.
Property Investment Queensland
So how does Queensland factor in all this? Well, demand in Queensland for rental units is on the rise. Right now property investors in Queensland are in the box seat. In fact, some look at Queensland as a landlords market.
It is very hard for one to rent a property in this state right now. This particular fact is attributed to the fact that there are limited supply and strong demand. With limited supply and strong demand, rent prices in Queensland are going up, welcoming news to many landlords and property investors. Rent figures shared by the Real Estate Institute of Queensland go to support this point.
In Cairns city, for instance, the rental market tightened to 1.3% in the March quarter. During this period, weekly rent increased by $10 to $15. Right now, average renters pay $45 more a week to lease an average three-bedroom unit compared to a year ago.
Other Regions in Queensland
The same scenario is also visible in other Queensland regions. For instance, in Fraser Coast, the vacancy rate during the first quarter fell to 1.1%. Townsville market had the biggest vacancy rate move dropping from 4.3% to 1.5%.
Gladstone also saw an improvement with its vacancy rate. In fact, it had a healthy range for the first time in six years. The vacancy rate in Gladstone moved from 4.2% to 3.5%. The Greater Brisbane market recorded the same vacancy rate of 2.2%. The inner Brisbane market, on the other hand, improved significantly from 4% to 2.1%.
Other notable regions in Queensland with tight vacancy rate are Logan, Moreton Bay, Redland, and Ipswich. All these regions ha a tight vacancy rate of 2%.