Australia’s bargain rental suburbs revealed

first_imgAirlie Beach was among the surprise locations on the list. Image: Tourism WhitsundaysAustralia’s bargain rental suburbs have been revealed, and the top Queensland locations may surprise you.The tourist haven of Airlie Beach and Chelmer, a prestige suburb in Brisbane, have been revealed as among the top 10 Australian areas with the most discounted rents for the 12 months to May. The biggest home sales of 2018/19 Airlie Beach (Whitsundays)$500 – down 23% Chelmer (Brisbane) $600 – down 20% Barcaldine (Central West) $230 – down 8% Blackall (Central West) $185 – down 8% Newport (Moreton Bay) $613 – down 6% Flinders View (Ipswich) $330 – down 5% Charleville (South West) $210 – down 5% Hope Island (Gold Coast) $650 – down 4% Cosgrove (Townsville) $335 – down 4% Gaythorne (Brisbane) – $450 – down 4%(Source: Australia’s bargain rental suburbs – lowest growth in weekly rent to May 2019. from newsParks and wildlife the new lust-haves post coronavirus12 hours agoNoosa’s best beachfront penthouse is about to hit the market12 hours ago – MORE: Road testing a Brisbane mansion The findings, which have been revealed by, found rents had been discounted by 23 per cent in Airlie Beach (to $500 a week) and 20 per cent in Chelmer ($600 a week), with them earning fourth and seventh spot on the list.The top spot was taken out by Tomakin on the NSW south coast, where rents fell by a whopping 41 per cent. Rents in Bellevue Hill, a suburb of Sydney, fell by 29 per cent, earning it the second spot. Looking at Queensland, the data identified the top 10 suburbs with the lowest rental growth over the same period, with Barcaldine (-8%), Blackall (-8%), Newport (-6%), Flinders View (-5%), Charleville (-5%), Hope Island (-4%), Cosgrove (-4%) and Gaythorne (-4%) making the list. The findings come at a time of year when many landlords turn their attention to whether to raise their rents. Q Place Estate Agents director of property management Cathie Crampton said investors should frequently review the rent their tenants were paying.“Rent reviews are a critical part of your investment management,” Ms Crampton said. “They should be reviewed at every lease renewal and change over of tenancy for action.”Rent can be raised at the renewal of leases and the end of tenancies, but just because you can, does it mean you should? Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 LD’S MOST DISCOUNTED RENTS: The Real Estate Industry of Queensland CEO Antonia Mercorella said the decision could be difficult, as there were many factors to consider.“Raising the rent is something that should only ever be done in consultation with an expert, such as your property manager, who will be able to advise you on the prevailing market conditions,” Ms Mercorella said.“If vacancy rates in your area are low and your rent is already at the same level as similar properties in surrounding areas, a rent rise might be a risk that could result in extended vacant periods, which will cost you money in lost rent and ongoing fees and charges associated with the property.“If the vacancy rate is tight and your property is well maintained and well priced, raising the rent may be an option.”Ms Crampton said the rent should depend on market forces such as property location, features and supply and demand.She also said that markets could experience a slight downturn and it was important to be aware of external impacts on the property market.Ms Mercorella said landlords should consider reducing the rent if the property had been vacant for some time.“An experienced property manager will be able to tell you why your property is vacant but you’ll need to realise your property is competing with others in the area, some that are likely to be newer and with lower-maintenance features,” she said. Australia’s first homebuyer hotspot revealedlast_img