The Brisbane seaside suburb of Wynnum has been named as one of Australia’s best rental suburbs for capital growth and solid rental yields.
The suburb has experienced capital growth of 3.13% over the past 12 months, and is predicted to reach capital growth of 7.56% over the next five years, according to data from onthehouse.com.au.
A local real estate agency has experienced high demand from interstate investors and families wanting to rent in the area.
David Green, Principal of Harcourts Green Living, said the area was a strong growth market with its proximity to both Brisbane and the Gold Coast.
“Our property managers who have worked in the Bayside for decades are experiencing a high demand for rental properties from young families moving to the area, as well as investors from Sydney and Melbourne,” Green said.
According to the data, there is a large pool of renters in Wynnum, making up 37% of total households and the current rental yield is 4.97%. Green said the average rental vacancy rate is just 1.25%, compared to the wider Queensland average rate of 3.2%.