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These stunning apartments are situated in the laid back area of Wynnum.
Within walking distance of the local rock pools, the cafe precinct and the train station they are a prime opportunity for tenants who are either looking for a relaxed lifestyle, or a short train commute to the Brisbane CBD.
These apartments are Full Turn Key, and start from $455,000 for a 2 bedroom, 2 bathroom with a car space.
The outside of the complex features:
The Kitchen area features:
Estimated Weekly Rent
Based on the existing rental market in Wynnum, a local property manager has completed an estimation and come back with an estimate of $475 per week for one of these apartments.
Vacancy Rate for Wynnum
The area is sitting at a vacancy rate of 1.4% which makes it a very strong ‘landlord’s market’.
A vacancy rate this low indicates that there is a very large tenant demand for the region.
(Vacancy rate data sourced from SQM Research, on 12/05/2016)
The investment is estimated to have a strong 5.4% yield.
Looking at the Median house and unit prices over the last 10 years we can see some significant growth has been occurring.
Median price in 2007 was $301,000
Median Price in 2016 is $394,000
This represents a 30.8% increase in value over the 10 year period, or a 3.08% average increase in value per year.
Previous Growth Analysis
If we look at the previous growth over the last 10 years, we come to the figure of 30.8% for apartments and units within the area.
If this level of growth were to continue, then based on an apartment costing $455,000 then we would expect to see the same apartment valued at $595,140.
This would be a 10 year gain in value of $140,140 or $14,014 per year.
Note: There is no perfect science or method to accurately predict the exact growth that a region will experience in the future.
If you would like to find out a little more about this opportunity, or to discuss whether it would suit your personal investment strategy, feel free to get in touch with us anytime!