20 Bush Drive - $540,000 - a record sale for the street. A big house on a big block of land.
20 Bush Drive - $540,000 - a record sale for the street. A big house on a big block of land.

REVEALED: Cheapest rentals and highest returns in Clarence

THE south side of the river might not attract the headlines, but there are plenty of returns on offer for those with a good eye.

New figures from realestate.com.au show that South Grafton has the lowest median house price in the Clarence, but the highest rental yields.

Elders Real Estate Grafton sales agent David Dart said the area was perfect for all the different aspects of the market.

255 Ryan Street. On the market at $325,000 - great for first home buyers with a family.
255 Ryan Street. On the market at $325,000 - great for first home buyers with a family.

"It's a great place for first homebuyers because you can pick something up cheaper than in Grafton," he said.

"In Grafton we've seen a real spike; houses that are nicely done up in that $330-$400k range, we're getting four to five people fighting over them.

"In South Grafton people can go for that bit of affordability."

76 Kelly St - on the market at $229,000. A great two bedroom house for a first home buyer or investor.
76 Kelly St - on the market at $229,000. A great two bedroom house for a first home buyer or investor.

With a median house price of $280,000 and gross rental yields at 6.3 per cent, it is the place people are looking towards in a surprisingly strong market.

"There's still growth in South Grafton, and there's a few buying but a lot renting," Mr Dart said.

"There's a lot of people moving here for the jail, who will wait and see, and down the track in the next 12 months will gradually take it up and start to buy."

RELATED: Clarence Valley house prices during COVID-19

Mr Dart said it wasn't only cheaper properties that were catching the eye, with a range of high quality houses attracting attention.

"We've just had one exchange in Bush Drive for $540,000 which was a record for the street," he said.

"It's 20 years old, but it's a bigger block than normal and a beautiful big home."

Mr Dart said the addition of the second bridge had also made the suburb more attractive, with wait times all but eliminated.

>>> LOOK: Staying on top of local real estate

 

Clarence Valley rent statistics

 

Suburb Average rent Gross rental yield

South Grafton

$340 6.31%

Grafton (units)

$298 6.21%

Junction Hill

$380 5.90%

Grafton

$360 5.78%

Maclean

$400 5.33%

Townsend

$385 4.91%

Gulmarrad

$475 4.75%

Yamba (units)

$385 4.70%

Lawrence

$370 4.66%

Yamba

$470 4.61%

Woombah

$385 4.11%

Iluka

$360 3.60%


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