News

Many happy returns on coastal rentals

Principal of Yamba Iluka Real Estate Denise Gillies talking about the rental market.
Principal of Yamba Iluka Real Estate Denise Gillies talking about the rental market.

REAL estate investors should consider moving into residential ahead of commercial properties, especially in the coastal holiday areas, says a Yamba agent.

Yamba Iluka Real Estate's Denise Gillies said three and four-bedroom homes were almost impossible to find and could attract rents of $380 to $440 a week.

"That's between 5% and 6% which you can't get at the bank," Ms Gillies said.

"If you take depreciation into account, you can make a pretty reasonable return on your investment."

"Residential real estate is becoming a solid long-term investment," she said.

"If you've got a five-year plan in place, got a good marketing strategy and maintain your property up to standard you can generate good returns.

"I can't see any reason why residential real estate wouldn't be a good option for self-funded superannuation funds."

She said a number of buyers had taken the stress off their mortgages by renting the properties for a year or two before moving in.

Its figures showed rental prices were largely static on the North Coast in the past quarter.

The report said Australia-wide rental prices reflected the downturn in the resources boom, with prices falling in regions near resource centres.

"In regional markets, we are seeing the rental market shift from one where locations linked with the resources sector were seeing strong rental growth and are now seeing rental rates fall in many instances," said report author Cameron Kusher.

"On the other hand, coastal lifestyle markets are now starting to see some growth return after many years of poor value and rental growth prospects."

Raine and Horne Yamba's permanent property manager Lisa Pengilly confirmed the shortage of rental properties in the town.

"I've got two properties on my rental list at the moment," she said.

"Normally this time of the year is our quietest period, but we've been really busy," she said.

Topics:  real estate, yamba




Truck driver lucky to escape rollover

HEAVY LIFT: A tow truck operator works to move a truck out of a ditch on Summerland Way.

Grafton Heavy Towing overturned truck after fire risk assessment

Palace Arcade facelift brightens Maclean CBD

Manager of River Cafe Alison Edsell and owner of Bad Habits Len McComish in front of the Palace Arcade's new façade in Maclean.

Palace Arcade facade refurbishment almost complete.

Is Brian Harrigan the next mayor of Clarence Shire?

CIVIC DISORDER: Clarence Valley mayor Richie Williamson is not quite sure what to make of Brian Harrigan, who claims to be the new mayor in town and is spruiking his ideas for Australia Day.

A new leader is rising out of the woodwork

Latest deals and offers

Matt Damon is taking a break from acting

Matt Damon is taking a break to spend time with his family

Is Brian Harrigan the next mayor of Clarence Shire?

CIVIC DISORDER: Clarence Valley mayor Richie Williamson is not quite sure what to make of Brian Harrigan, who claims to be the new mayor in town and is spruiking his ideas for Australia Day.

A new leader is rising out of the woodwork

Police foiled terrifying 1m plot to kidnap Katie Price

Police foiled a £1 million plot to kidnap Katie Price and her family

REVIEW: A very loud nod to the original Ghostbusters

WHO YOU GONNA CALL? Kate McKinnon as Jullian Holtzmann in Ghostbusters which is playing at the Yamba Cinema.

New film pays homage to terrible CGI ghosts, ridiculous plot lines

Kristen Bell's baby confession

Kristen Bell once pretended to be asleep when her baby woke up early

Babylon 5's Jerry Doyle has died

Jerry Doyle has died from unknown causes at the age of 60

You can own this Queensland town for just $1

Yelarbon

Unprecedented auction of town's business centre with no reserve

Work starts on $15M Caloundra apartment building

Turning the first sod at the Aqua View Apartments site in Kings Beach are (from left) husband-and-wife developers Alex Yuan and Stella Sun with construction company Tomkins director Mike Tomkins and Councillor Tim Dwyer.

Developers excited about addition to Kings Beach skyline

Plans revealed for 1500-lot 'master-planned community'

Precinct will be bounded by Boundary St and Shoesmith Rd

Ecco Ripley sales run sparks prime release

MOVING IN: Sekisui House has announced the release of more residential blocks at Ecco Ripley.

Sekisui House is preparing to unveil more land at Ecco Ripley

Massive residential 9-storey high-rise hit by delays

An artist’s impression of the eight-storey-high apartment complex that Bernoth Holdings wants to build in South Toowoomba, next to the City Golf Club.

Developer struggles to get approved high-rise development started