Property Management Newsletter - August 2018
Kyogle Rental Facts
PRDnationwide’s research team has released their most recent market report for the Kyogle area.
The quarterly reports look at key indicators such as number of sales and rentals, average prices, and days on market to help understand the strength of the local property market.
The good news is that all signs are quite positive for the Kyogle area, and now is a great time to be an investor or increase your portfolio.
The median rent in Kyogle increased by 3.6% over the past 12 months to $290 per week. Homes of 4+ bedrooms provided the highest annual rental growth of 13.9% (median rent of $360 per week). Average days on the market tightened to just 7 days, which confirms that Kyogle has an increasingly strong rental demand. Each rental property gets an average of 104 online visits, which is a 35.1% increase since December 2017.
Astute investors are benefitting from rental yields of 5.1% for houses in Kyogle and an impressive 6.5% in Woodenbong, well above the Sydney
region at 2.9% as well as neighbouring regions such as Lismore, Byron Bay and the Gold Coast.
Contact us if you would like to read the full Kyogle Property Factsheet or would like to discuss your property portfolio.
Rental returns were particularly strong for houses in Kyogle* at 5.1%, whilst units (at 3.6%) were on par with that of Sydney Metro (2.9% and 3.8% singly).
4+ bedroom houses provided the highest annual rental growth of 13.9%, at $360/week in the 1sthalf of 2018.
Vacancy rates in Kyogle* were low (1.0%) and has trended lower than both Gold Coast Main and Sydney Metro, both at 2.8%. This signals a high occupancy rate, which suggests investors can be assured of consistent rental returns in Kyogle*.
Combined, these factors point to Kyogle* as an affordable investment option outside of Sydney Metro. Action takers need to include Kyogle* on their lists of locations to inspect properties.
· Mount Street, Kyogle—3 bedroom home with views, $300 per week
· Kyogle Road, Cawongla—3 bedroom shed conversion home, $240 per week
· Summerland Way, Kyogle—3 bedroom unit in main street, $190 per week
· Summerland Way, Kyogle—2 bedroom unit in main street, $190 per week