When you want to buy property to rent out in the eastern suburbs, you deserve to know that you're buying into an area that provides good rental yields. When the rent you receive from a home reaches a certain point of profitability, you know you are investing in the right area – especially if you are seeing capital value gains in your property as well.
Many areas in the eastern suburbs are excellent for this, and engaging our property management team at Ray White Double Bay is a great first step in finding the right home for your needs.
However, it doesn't hurt to have the figures backing up our area as well. And according to the RP Data Best of the Best report for 2014, there are some areas within the eastern suburbs that should not be missed.
In this report, released by the research organisation's Mitch Koper on December 18, suburbs all across Australia were collated to determine the most profitable for buyers, sellers and renters alike. For those in the market to purchase as investment, it turns out real estate in Rushcutters Bay is hard to overlook.
With a median sale price of $485,000 and median rent of $478, this works out to a 5.1 per cent rental yield – the seventh best result for all of Sydney in 2014.
What's more, SQM Research indicates that there is a vacancy rate of 1.4 per cent in the suburb. This means there is unlikely to be a shortage of prospective tenants when you buy property to rent in Rushcutters Bay.
To find out more about real estate in this area or to get someone to manage your property for you, feel free to contact Ray White Double Bay – you deserve it.