There are still plenty of good options for property investors despite the massive price increases many suburbs have experienced in the past two years.
A new report by PropTrack surveyed a panel of 17 property experts and came up with a list of 100 suburbs they expect to outperform in 2024.
The findings are based on a variety of factors including affordability, location, family appeal and investment and infrastructure projects as well as rental yields.
Unit markets were the top performers in every state.
The top location for the highest rental yields in Australia are both in Western Australia, Armadale and Geraldton both with unit rental yields of 7.7% based on rents of $415 and $260 per week respectively.
In Queensland Gladstone units had a top rental yield of 7.4%, Darwin City (7.3%) was the top in the Northern Territory and Whyalla (7.2%) in South Australia.
Victoria’s top market for yields was Albion (5.6%), the ACT was Dickson (5.3%), Burnie in Tasmania (5.2%) and in New South Wales, Dubbo (5%).
In good news for investors, the report says the current high interest rate environment will make renting the only affordable option for many people which will push up demand even further for rental properties.
