CAIRNS’ central suburbs have been dethroned as the kings of rental returns with a northern beaches suburb yielding double figures, according to the latest realestate.com.au data.
Units at Holloways Beach reported a 10.75 per cent yield in the past 12 months, collecting $310 rent on average.
Grant Doolan and his partner Caitlin Dale outside their McManus St property in Whitfield that they have listed for sale. PICTURE: STEWART McLEAN
Usual frontrunners Woree and Manoora, which were among the nation’s best last year, were second and third in Cairns, returning at 9.86 and 9.54 per cent respectively.
Ray White Cairns Beaches business development officer Nicole Barry said the leading suburb offered a beach lifestyle with city proximity, and fell in the Cairns State High School catchment zone.
“Holloways and even Yorkeys Knob are sitting just above 1 per cent vacancy,” she said. “Units are sometimes renting before they even go on the market.”
For owner-occupiers, Earlville recorded the highest capital growth of suburbs that sold a minimum of 30 houses with a 27.7 per cent rise.
Whitfield, a well sought-after suburb, experienced a -5.8 per cent median price change.
But that hasn’t worried McManus Street residents Grant Doolan and Caitlin Dale, who bought their house three years ago in the $300,000 range and have confidently listed for offers in the $500,000s.
Check out today’s real estate liftout
RENTAL YIELDS
Cairns always performed strongly in rental returns. This is how it compared to other cities in the past 12 months.
Cairns…………………………..7.4%
Townsville…………………7.09%
Brisbane……………………..5.14%
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