Live N Invest team members. David Menso
INVESTORS should be searching for low-maintenance homes that are near new in affordable suburbs to maximise their investment.
Live N Invest principal David Menso said while capital growth was slow in Townsville, investors were receiving good rental returns – but purchasing the right property was crucial.
“Generally you want a property where no or low maintenance is required and the newer the property the better the tax benefits,” he said.
“The market has probably bottomed out in Townsville so now we’re starting to see investors come back in.
“Rents are starting to stabilise and we’re seeing lease renewals start to stay at the same price and I think investors are pretty astute to those types of changes.”
Mr Menso has 7 Evergreen Drive in Kirwan listed for sale for $329,900.
He said it would make a great investment property with a residential lease in place returning $380 in rent a week.
Hotspotting founder Terry Ryder said sales volumes were a great early indicator of what was happening in the market.
He said according to sales volumes, the suburbs of Annandale, Bushland Beach, Douglas, Kelso and Kirwan were rising markets and a great choice for investment.
“These suburbs are in the more affordable part of the market and they tend to attract younger buyers and that’s where I would expect both local buyers and investors to be targeting,” he said.
“Townsville is generally improving both economically and in the property market but that will take a little bit of time to show up in the price data.
“Townsville is on the way back but the real estate market hasn’t risen price wise yet so it’s a good time to consider buying before that happens because we do expect prices to rise in Townsville in the next couple of years.”