Not according to suburb reports compiled by Real Estate Investar, drawn from the very latest, live on-the-market data.
Real Estate Investar (www.realestateinvestar.com.au)
These reports have revealed some fascinating trends about the state of the Australian property market, particularly around entry level home-buying and investing.
The March Top 50 Cheapest Suburb Report shows how there are 37 suburbs throughout Australia where the median listing price is below $100,000.
Clint Greaves, Real Estate Investar COO, welcomed the news, especially given today’s relatively low cost of borrowing and the increased number of households with two or more wage earners.
“Given the perception that it can be difficult for first homebuyers and investors to enter the market, it is heartening to see that there are still properties available below the 100k threshold,” he said.
The future seems bright too for first-time investors looking for positively geared property, with the March Top 50 Highest Yielding Suburbs Report revealing 23 hotspots where the median gross rental yield can deliver returns of more than 10 per cent.
Topping the list this month is the suburb of Moranbah, where the median listing price for four bedroom homes of $714,500 and weekly median rent of $2,200 produce a rental yield of over 16 per cent gross.
Mr Greaves said the latest data showed some excellent investment opportunities.
“A soft market can often mean more motivated vendors and therefore discounted property delivering immediate equity.
“When combined with the number of suburbs offering potential double-digit returns, this seems to bode well for investors looking to take action in the short term,” Mr Greaves said.
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Real Estate Investar develops and provides online property investment software and tools.
Our members use these tools to find, analyse, estimate the value and track their property investments, helping them to make more successful and rewarding investing decisions.
About Real Estate Investar’s monthly suburb reports
The reports are produced using live on the market sales and rental listing data. Accuracy is maximised by only publishing suburb results with high enough data sample sizes and is calculated at both a dwelling type and bedroom number level.
The reports are designed to illustrate potential investing opportunities, but do not take into account investors’ individual objectives, circumstances or needs.
To view the reports go to www.realestateinvestar.com.au/
Real Estate Investar recommends that before any financial decision is made, investors should always conduct additional due diligence and seek professional advice where necessary.