Looking to start generating significant profits from your duplex rental investment in 2019? Here are top suburbs in Townsville you should definitely zero in on.
Choosing to go with a duplex rental investment is without a doubt one of the best decisions you can ever make. Why is this? Well, not only is investing in duplex rentals the best way of becoming wealthy but also the quickest way of generating wealth. Furthermore, it is the safest and only way of generating wealth fast.
For you to enjoy these benefits, however, it is important that you invest in the right location. Where you choose to have your duplex rental investment goes to determine if you’ll generate profits or not. It is with this that we’ve decided to share with you this post. Below you’ll find suburbs in Townsville that are perfect for a duplex rental investment.
Townsville In Brief
Before looking at the suburbs that are making this Australian city gain major spotlight so far this year when it comes to property investment, here is a small brief. That said Townsville is a coastal city in Australia’s North Eastern Queensland. Many property investors who opt to invest in this coastal city are always looking out for rentals. Why is this? Well, a good number of residents in Townsville are looking to rent as opposed to buying. In fact, this Australian city is currently recognized by many as being a hot spot for renters.
In terms of numbers, 50% (half) of the Townsville population choose to rent. This number is set to go up even higher with different suburbs recording record high percentage of renters so far this year. For instance, Rosslea, a suburb in Townsville, has a 61.5 percentage of renters this is according to data released by CoreLogic for the year ending May.
Top Townsville Suburbs For A Duplex Rental Investment
Now that we have a brief of Townsville, here are the suburbs you should look at in Townsville for duplex rental investment.
Top on the list of suburbs perfect for a duplex rental investment is Rosslea. This Australian suburb as already mentioned is big when it comes to renters. A big reason why this is so is the fact that a good population of Rosslea are temporary residents. In addition, this suburb boasts a working population and it also has a very good economy. Price wise, the average rental price in this suburb currently stands at $345 a week. A unit, on the other hand, costs $238.
If you are among the few looking to buy as an investment, do note that the average price for a house is $299,000. Units on the hand cost residents in Rosslea an average of $185,000. In general, this suburb currently boasts an indicative gross rental yield of 6.00% for houses. For units, the percentage is at 7.01%.
North Ward, Queensland
North Ward is another perfect suburb in Townsville that’s perfect for a duplex rental investment. So why is this? For starters, it has a slightly higher average price for both home and units. In addition, it is very popular among renters given its proximity to the Strand and the City. Currently, North Ward seats second in terms of suburbs in Townsville with a high population of renters. Figure wise, 61.3% of North Ward’s population are tenants this is just a few shy of Rosslea.
In terms of price, median prices for houses and units in North Ward are slightly high. The average median sale price for houses in this Townsville suburb is $508,000. The average median rent price, on the other hand, is $400 per week. The median gross yield in North Ward currently stands at 4.0%.
Garbutt, Northern Queensland
Garbutt is another area that is popular among renters in Townsville. Despite not being too close to the Strand or City, this suburb does have facilities that attract renters making it perfect for a duplex rental investment. In addition, there has been a slight increase in median property value over the past 12 months. This does include a variety of community facilities that are a plus to Garbutt’s main population that is elderly singles.
Price wise, the average median rent per week for a house in this Townsville suburb is $300. On the other hand, the average median price for houses is $237,500. For units, the average median rent price is $233 per week while the average median price for buying is $150 to 180,000. Gross rental yield for houses in Garbutt, Northern Queensland is currently at 6.57%.
As an investor, you want to invest in a duplex build in a suburb that has a high demand market. In addition, it should have a high renters population if you are looking to rent out your property. With this suburb in Townsville City, Queensland, you get all this and then more. For instance, you get a population that’s perfectly mixed with the majority being maturing and independent families. What all this does is make Pimlico perfect for a duplex rental investment.
Price wise, the average median price for homes in Pimlico is$280,000. Median weekly rent, on the other hand, stands at $300 for houses in Pimlico. For units, the average median weekly rent is $230 per week. The gross rental yield comes in at 5.57% as of the first quarter of this year.
The last place we highlight in this perfect suburb for a duplex rental investment post is Bohle Plains. This suburb in Townville, Queensland has a number of things going for it. However, one sticks out from the rest. So what is it? Well, like the other suburbs already covered, the population of Bohle Plains has many renters. For investors looking for a duplex rental investment, this suburb is perfect.
In Bohle Plains, the average median price for houses is $385,000. Renters living in Bohle plains pay a total of around $18,460 rent on a yearly basis. This is an average of $355 per week. Factoring all this in gives you a gross rental yield of 4.86%.
Are you thinking of making a duplex rental investment in Townsville? Contact Duplex Invest and let them help you make the right investment decisions. You can contact Duplex Invest by dialling 1800 600 098. You can also send an email to firstname.lastname@example.org.