Top time to buy investment property... but not here
IS property investment simply for the wealthy? According to recent research from RPData, there's hope for us all.
Aussie executive chairman John Symond says right now property investment is well and truly within reach for everyday Australians.
Gladstone, however, is not listed in recent research.
Reviewing suburb statistics commissioned from RPData, Mr Symond revealed there were at least half a dozen suburbs in each capital city where gross rental yields were greater than the cost to repay the mortgage.
In some cases, rent was increasing year on year.
"It's the perfect time for the average Australian to consider a move into property investment if they have some money saved," he said.
"Both fixed rates and variable rates are the lowest they have been in years.
"Everyday Australians can seriously consider moving into the investment property market and having the rent cover the mortgage."
The research reveals the best suburb in the country for investors to consider was Bellamack in Darwin.
The suburb has a whopping 16.9% rental yield coupled with a large 24% increase in rents in the past 12 months.
It would throw the average out. Our average loan size in Gladstone is a lot more than the average elsewhere
Mortgage Choice franchise manager Kellie Bebendorf believed the reason Gladstone was left out of the research was because of average loan sizes.
"The trend in the market in other areas in Australia is different - Gladstone is a lot higher," she said.
"It would throw the average out - that's my understanding of it. Our average loan size in Gladstone is a lot more than the average elsewhere."
Ms Bebendorf said people that were coming to the region were buying their principal place of residence.
"The repayments will actually be less than what their rent is," she said.
"You could therefore say investors are buying houses and they are potentially positively geared."
Ms Bebendorf said many people who were buying houses in the region planned to live in them first and rent them out later.
The manager has two investment properties in Gladstone herself.
But she said people definitely had to do their homework before considering property investment.
"You have to be smart with it," she said.