High rental yields on offer in regional NSW towns Tamworth, Orange and Dubbo: PRDnationwide
Property investors looking for good income streams should consider investing in regional NSW towns like Tamworth, Dubbo and
“Our research reveals high yields for residential property in regional areas. While it has been common knowledge that higher yields can be achieved in regional cities, the fall in house and unit prices in some areas have pushed yields even higher,” says Oded Reuveni-Etzioni, research analyst at PRDnationwide.
The property group has selected the three regional towns that are defying the overall subdued conditions in regional NSW due to their diverse economies and strong investment by the mining sector.
Reuveni-Etzioni says these conditions are providing strong yields in the short term, with a potential for capital growth in the medium and long term.
He provides the following guide with examples for investors.
This large and stable economy led by retail, healthcare, manufacturing and education is also complemented by robust tourism and equine industries. The city experienced one the strongest growth in population in NSW, equating to an average increase of 1.5% per annum in the five years to June 2011.
The indicative median rental yield in March 2012 was 6.3% for a three-bedroom house and 6.3% for a two-bedroom unit.
Examples for some properties achieving higher yields include:
The Dubbo area is known for its rare earth resources, with several mining companies currently moving into the production stage, while others are investing in infrastructure to support their operations. The mining activity supports strong retail and agricultural sectors, creating a diverse economy that in turn maintains pressure on the retail, industrial and residential property markets. According to the local council the largest employers in the town are retail trade, healthcare and education. Manufacturing is also an important employment sector.
The indicative median rental yield in March 2012 was 5.8% for a three-bedroom house (low unit activity made the yield for this type of dwelling not reliable). Examples for some properties achieving higher yields include:
A low unemployment rate of 4.5% is an indication for the strength of the local economy. Information obtained from the Orange City Council identified government health services and Newcrest Mining as the largest employers in the region. The city experienced the strongest growth in population in the state, equating to 2% in the 12 months to June 2011 and an average of 1.5% per annum in the five years to June 2011.
The indicative median rental yield in March 2012 was 6.3% for a three-bedroom house and 6.1% for a two-bedroom unit. Examples for some properties achieving high yields include:
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