|
Holiday destinations and post codes |
Median house price |
Average rent /week |
Yield |
|
1. Hobart (7000) |
$483,000 |
$430 |
4.75% |
|
2. Byron Bay (2481) |
$701,000 |
$640 |
4.70% |
|
3. Adelaide (5000) |
$514,500 |
$460 |
4.57% |
|
4. Perth (6000) |
$812,000 |
$695 |
4.28% |
|
5. Cairns (4870) |
$691,000 |
$585 |
4.17% |
|
6. Port Douglas (4877) |
$503,000 |
$365 |
3.88% |
|
7. Brisbane (4000) |
$947,500 |
$700 |
3.66% |
|
8. Sydney (2000) |
$1,860,000 |
$1,190 |
3.45% |
|
9. Surfer’s Paradise (4217) |
$940,000 |
$615 |
3.42% |
|
10. Melbourne (3000) |
$905,000 |
$545 |
3.07% |
Source: Finder
Top hotspots for units
|
Holiday destinations and post codes |
Median house price |
Average rent /week |
Yield |
|
1. Port Douglas (4877) |
$184,000 |
$270 |
7.68% |
|
2. Surfer’s Paradise (4217) |
$299,500 |
$400 |
6.94% |
|
3. Brisbane (4000) |
$446,500 |
$575 |
6.63% |
|
4. Adelaide (5000) |
$359,000 |
$420 |
6.22% |
|
5. Sydney (2000) |
$575,500 |
$720 |
6.22% |
|
6. Perth (6000) |
$507,000 |
$610 |
6.16% |
|
7. Byron Bay (2481) |
$444,000 |
$520 |
6.15% |
|
8. Cairns (4870) |
$341,000 |
$390 |
5.92% |
|
9. Melbourne (3000) |
$409,500 |
$470 |
5.86% |
|
10 Hobart (7000) |
$456,000 |
$425 |
5.02% |
Source: Finder
“Houses and units in these holiday hotspots can be rented sporadically to tourists and holiday-goers or on a long-term basis. This makes them flexible and an attractive option for investors as you can make money with them and use them as a holiday home yourself, concurrently,” said Hutchison.
“Take into account legislation from the various states if you’re buying interstate – although many states will share similar regulations around property and investment, failing to look into them before purchasing could cause problems later on, especially concerning your rental agreement with tenants.”
Here’s how to make a holiday home part of your long term investment plan.
This article first appeared on Property Observer.
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