Queensland investors finding strong demand from holidaymakers over summer
In Queensland, the Gold Coast holiday rental market is picking up again after a tough year, says Clark Brackenridge, principal of Raine & Horne Surfers Paradise.
“Our property markets are showing signs of turning the corner, and as it stands, our holiday bookings for the Christmas period are reasonably strong, and are certainly well up on this time last year.
“In addition, buyers are beginning to recognise that property prices on the Gold Coast represent good buying, with good yields available to investors,” says Brackenridge
Two-bedroom, two-bathroom apartments overlooking the beach can be purchased for $400,000, and rent for $250 a night as a holiday rental, or for between $500 and $550 a week to long-term tenants.
In Far North Queensland, Port Douglas is also maintaining a steady stream of holiday bookings, says David Cotton, Principal of Raine & Horne Port Douglas / Mossman.
“To date, our holiday bookings have been on a par with 2010, if not higher, and we currently have between 60% and 70% occupancy for Christmas.”
Luxury homes on the hill overlooking Port Douglas can rent for between $5,000 and $7,000 a week, notes Cotton, but ultimately, the town runs the gamut of holiday accommodation, including backpacker lodging and beachside holiday units.
“For buyers interested in purchasing a slice of the Far North Queensland holiday lifestyle, quality holiday homes start from $1 million and provide returns of between 3% and 5%,” Cotton adds.
