Having assurances that your rental property is going to generate decent returns is something any investor strives for – and the latest figures show Sydney landlords are enjoying strong rewards. Rental statistics from CoreLogic RP Data show that the Harbour City is performing especially well, with rental rates up 1.4 per cent over the past year.
Although conditions are starting to ease, research analyst Cameron Kusher indicates there's still every reason to consider property management in Beverley Park.
"We've attributed this ease to a variety of influences such as falling real wages, excess rental supply in certain areas and lower rates of population growth which have impacted on demand for rental accommodation," Mr Kusher commented.
Nevertheless, rental rates have stayed at a record high in Sydney and Melbourne. Other capital cities have witnessed an easing in activity, the most pronounced of which was in Darwin with a fall of 15.6 per cent.
It's not only rental returns that are strong in the New South Wales capital, either, as figures from the Australian Bureau of Statistics point towards rising property prices. Between the December quarters of 2014 and 2015, residential values were up 13.9 per cent in the city – the highest out of all eight capitals.
The next-highest rise was in Melbourne, where a year-on-year increase of 9.6 per cent was registered.
While a Sydney property investment might be enticing, it can come with a lot of work attached. This is why many people decide to appoint a property management company to make the day-to-day operation of their purchase run much more smoothly.
Speak to the team at Ray White Carlton and we'll be able to help with various aspects of your investment.