Strong demand from tenants in Queensland is attracting a large number of investors to the state, according to the Real Estate Institute of Queensland (REIQ).
Anton Kardash, CEO of the REIQ, said that February saw a 10 per cent on-month increase in investors buying property.
“Our property market has turned a corner over the past six months, and these robust yields reflect that sales prices had yet to fully rebound in the December quarter last year, but rents had definitely increased,” Mr Kardash said.
“This year, there continues to be strong demand for rental properties from tenants, which in turn is driving activity from investors.
“REIQ analysis of Australian Bureau of Statistics (ABS) housing finance data found that the number of investors in the Queensland property market in February had increased more than 10 per cent compared to January this year.”
The REIQ December Quarter Gross Rental Yield Report, released yesterday, found that yields were particularly firm in mining regions as well as areas that offered affordable housing.
The top three performers for gross rental yields for houses by postcode were Miles at 9.3 per cent, Russell and Macleay islands with nine per cent, and Mount Morgan on 8.7 per cent.