Soaring rental demand is sparking a new wave of investor interest in Moreton Bay’s emerging growth suburbs. It’s good news for Brisbane’s north and the region’s leading agency David Deane Real Estate, where yields of up to 6 per cent are being achieved for investors.
The month of May spurred unprecedented rental enquiry and the agency has appointed a full-time leasing consultant to further build relationships with its growing tenant list. The agency is averaging 15 new property managements and 30 lettings per month with 629 properties now under management.
In addition, there are 1000 prospective tenants on the agency’s rental database – an increase of 500 from the same time last year.
May settlements were also up with 21 properties sold at an average of $322,000.
Principal Belinda Deane said the suburbs of Warner, Petrie and Bald Hills are emerging hot spots providing solid returns for investors. “There are some very encouraging signs emerging and leasing and property management numbers are up on last year by more than 30 per cent,” she said.
“There are in excess of 1000 prospective tenants on our database who are emailed our rent list daily.”
The average rental price for a standard three-bedroom home in the aforementioned suburbs is $350 per week, up from around $330 in 2011.
Ms Deane said tenants are looking for three to four bedroom homes with built-ins, ensuite and low maintenance, fully-fenced yards.
“A note to investors – a lock up garage and air conditioning will also put your property ahead of the pack as does a convenient location to schools, transport and shopping centres,” she said. “Enquiry levels are through the roof and we have just appointed three new property managers to handle a surge in lettings. “We put a lot of work and effort into training our property managers with weekly training sessions and interstate conferences to ensure we deliver the best advice to our owners.
“You need to make sure your property managers are knowledgeable in investment management. We treat your home like it is our own, which is why we have been so successful in gaining leading market share across the region.
“We have also employed a customer service manager which has been a factor in our increase of new managements as we focus even more on our service and quality.”
Ms Deane said the additional team members have ensured service delivery proving ‘our people are the key asset in our growth’.
“This has made a dramatic difference to decreasing our days on market and being the number one agent in the area for reletting properties in minimum time. We have tenants phoning us wanting to get our daily rent list emailed to them,” she said.
“All these factors together have increased our growth and our aim is to always minimise our vacancy periods and relet properties as quickly and efficiently as possible.”
David Deane sales manager Mark Rumsey, said investors made up 15 per cent of sales during the March quarter with 62 per cent of those living in the local catchment area. A lot of the activity is being generated from those selling homes in the mid $300,000 category and upgrading to properties as high as $450,000.
“The positive signs are there and we have the ability to give properties the right exposure, provide the right marketing strategy for vendors and get buyers to the property,” he said.
Strathpine is ideally located just 23 kms from the Brisbane CBD. It is one of the only Brisbane suburbs with two railway stations, ensuring a smooth commuter flow in an out. Centred on Westfield Strathpine, the Strathpine Railway Station and local council chambers, the scale and mix of uses continues to expand to meet the broadening needs of the area’s growing population.
David Deane Real Estate was acknowledged at the recent 2012 annual Australasian Real Estate Results Network Awards (ARERA’s), where founder David Deane was honoured with a lifetime contribution award, while sales young gun Cassie Turner was awarded Rookie of the Year.
Visit www.daviddeane.com.au for more information.
