Affordable investment properties under $500,000 remain available across Australia, offering attractive rental yields and significant growth prospects, according to the latest Pulse Report by Washington Brown in collaboration with Hotspotting.
The report identifies 10 top-performing locations across Queensland, Western Australia, and New South Wales.
“Our nation offers so many promising areas that investors should consider for their first, or their next, investment property,” said Washington Brown Director Tyron Hyde (pictured above left).
“Research like this shows current and prospective investors that there are a variety of affordable investment locations with excellent cash flow and capital growth still available to purchase.”
Queensland dominates the rankings, with Blacks Beach in Mackay topping the list. Houses in the $400,000s and units in the $300,000s are available here, with rental yields between 6% and 7%.
“Blacks Beach in Mackay continues to offer buy-in prices in the $300,000s for units and the $400,000s for houses,” Hyde noted, citing its ultra-low 0.3% vacancy rate as a driver of rental growth.
“Over 200 houses have sold in Blacks Beach in the past 12 months, with properties typically selling within two weeks,” Hotspotting Director Terry Ryder (pictured above right) said. “The median house price has increased 14% in the past year and the median rent is up 12%.”
Other Queensland standouts include Calliope, near Gladstone, with a median house price of $425,000 and an 18% increase in median rent over the past year.
In Western Australia, Carey Park in Bunbury and Wonthella in Geraldton are delivering strong results. Carey Park recorded a 29% increase in house prices over the past year, while Wonthella saw a 26% rise, with both locations offering yields near 7%.
For unit investors, New South Wales provides attractive options in Lakemba and Harris Park, where median prices remain under $500,000. Lakemba’s unit prices increased by 13% last year, and Harris Park benefits from infrastructure projects like the Sydney Metro and Parramatta Light Rail.
Hyde also highlighted the potential for annual depreciation benefits of $3,500 to $7,000 in these locations, depending on property type. For instance, investors in Blacks Beach may claim up to $6,900 annually.
“These hotspots combine affordability, high yields, and tax benefits, making them ideal for investors aiming to grow their portfolios,” Ryder said.
With competitive prices, robust rental yields, and strong capital growth, these top 10 locations represent excellent opportunities for Australian property investors in 2024 and beyond.
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