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Investors Should Consider St George Units

By Louise Morrin

Sydney remains the most expensive rental market in the country, which spells good news for those with investment property in St George.

During the December quarter, the median weekly rent was $500 for houses in the NSW capital, according to the Australian Property Monitors December Quarter 2013 Rental Report, released this month. 

Not only did the city have the highest weekly rent prices for houses compared to all capital cities, it was also a strong contender when it came to unit prices during the December quarter.

Sydney unit prices have risen 5.4 per cent year-on-year to December 2013, with the average weekly rent for a unit in the sought-after city rising to $485.

The only capital to have a higher figure was Darwin, with weekly rents averaging $570. However, Darwin's year-on-year increase to December 2013 was lower than that of Sydney's, coming in at 3.6 per cent.

Investors wanting to extend their property portfolio by buying real estate in Carlton and other popular suburbs may well want to consider units as an investment option, given the strong growth in rental prices for this dwelling type compared to houses.

While gross rental yields dipped in the city, further capital growth is predicted for 2014 and the demand for housing in the capital is not tapering off.

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