Other areas of Australia may not be having the best time for rental profits, but anyone who owns property in Adelaide is still going to have their investment do right by them, and now there are great results for South Australian tenants too.
Australian Property Monitors (APM) and Domain released their quarterly rental report for June 2014, and it shows that despite calmer growth for property prices, rental properties are performing well, and prices for standalone houses are the most affordable of any capital city in Australia – a great sign for both buyers and sellers.
The Australian Financial Review believes that if you're looking for property in the range of $400,000 to $800,000 then you could do particularly well, with these properties coming out as investors' biggest targets. Trends suggest you can still get in on this market too so feel free to talk to us about, say, our range of luxurious Prospect homes.
Dr Andrew Wilson, a senior economist at APM says that despite prices being a little bit softer this quarter, rental yields are at 4.96 per cent for homes and 5.39 per cent for units, which is higher for both types of property than this time last year. Even better, the overall gross yield for rent from units was higher in Adelaide than most capital cities in Australia!
You probably already knew that living in Adelaide was extremely affordable, but these statistics show that buying property here can also be a great long-term investment. Whether you are looking to rent or buy, you can find exactly what you need at an excellent price – talk to us today about finding your dream home at an even dreamier price.