{"id":1666,"date":"2022-01-31T06:04:45","date_gmt":"2022-01-31T06:04:45","guid":{"rendered":"https:\/\/royabhishek.in\/urbanbuyer\/five-affordable-locations-for-rentvestors\/"},"modified":"2022-01-31T06:04:45","modified_gmt":"2022-01-31T06:04:45","slug":"five-affordable-locations-for-rentvestors","status":"publish","type":"post","link":"https:\/\/royabhishek.in\/urbanbuyer\/five-affordable-locations-for-rentvestors\/","title":{"rendered":"Five affordable locations for rentvestors"},"content":{"rendered":"

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New research from The Female Investor identified five affordable locations across Australia that offer growth prospects for those who are considering to rentvest.<\/p>\n

The Female Investor co-author Kate Hill said rentvesting is a viable option for many first-home buyers who would like to enter the market without compromising their ideal location to live in.<\/p>\n

\u201cRenting continues to be more affordable than purchasing in desirable pockets of major cities, where buy-in prices can easily be millions of dollars and where many young people desire to live,\u201d she said.<\/p>\n

\u201cHowever, being a long-term renter without putting your money to work somehow has significant ramifications on your financial future as well as potentially causing hardship in retirement.\u201d<\/p>\n

The Female Investor co-author and Property Investment Professionals of Australia member Nicola McDougall said despite the price gains over the past year, many Australians are actually encouraged to participate in the property market through rentvesting, as many locations remained affordable.<\/p>\n

\u201cAs well as many young people moving to more affordable areas over recent years, rentvesting has become a popular strategy for those who want to buy property but still want to remain living in an expensive real estate city such as Sydney or Melbourne,\u201d she said.<\/p>\n

Here are five of the best locations across Australia for Australians considering to rentvest:<\/p>\n

Casey City Council (Melbourne)<\/h2>\n

Suburb: Cranbourne \u2014 $657,000

\nRental Vacancy Rate: 1%<\/p>\n

Ms Hill said one of the factors making Casey City Council a viable location to invest in is solid economic fundamentals.<\/p>\n

\u201cLocal industries are diverse, which means the area is not dependent on only one industry hence the area is less volatile which keeps employment rates very stable.\u201d<\/p>\n

Casey City Council\u2019s population growth rate outpaced other rapidly growing outer Melbourne municipalities.<\/p>\n

\u201cIn fact, it\u2019s growing at a rate more than twice the national average,\u201d Ms Hill said.<\/p>\n

City of Onkaparinga (Adelaide<\/a>)<\/h2>\n

Suburb: Morphett Vale<\/a> \u2013 $430,000

\nRental vacancy rate: 0.1%<\/p>\n

The City of Onkaparinga is considered an attractive seaside location, thanks to its lifestyle, affordability, improved transport links, economic growth drivers, population growth, and proximity to major jobs nodes.<\/p>\n

\u201cFor example, $1bn has recently been spent on infrastructure, including the duplication of the Southern Expressway, the McLaren Vale overpass and the electrification and extension of the Noarlunga rail network to Seaford,\u201d Ms Hill said<\/p>\n

Ms Hill said it has a track record of steady price growth and above-average rental yields, making it one of South Australia\u2019s strongest population areas.<\/p>\n

\u201cOver the next 20 years, the region is expected to receive an influx of 48,000 additional residents,\u201d she said.<\/p>\n

Penrith City Council (Sydney)<\/h2>\n

Suburb: Kingswood \u2013 $790,000

\nRental vacancy rate: 1%<\/p>\n

Situated in Western Sydney, Penrith City Council benefits from the region\u2019s economy and is expected to create 12,000 jobs by 2036.<\/p>\n

\u201cIn the past two years, Penrith\u2019s property market received a \u2018ripple effect\u2019 from the growth in Sydney, with most suburbs experiencing double-digit annual growth in median prices in recent years,\u201d Ms Hill said.<\/p>\n

Penrith City Council is ideal for rentvestors or homebuyers with slightly higher budgets.<\/p>\n

\u201cPenrith has a robust major infrastructure program, recorded population growth every year for decades, has diverse industries that keep its economy vibrant, as well as a more affordable property market that is incredibly active for both renters and buyers,\u201d Ms Hill said.<\/p>\n

Suburb: Mirrabooka \u2013 $385,000

\nRental vacancy rate: 0.4%<\/p>\n

City of Stirling is one of the four precincts that helped boost Perth\u2019s market recovery two years ago.<\/p>\n

Home to the Scarborough Beach, the City of Stirling\u2019s seaside lifestyle makes it attractive to young buyers and renters.<\/p>\n

\u201cFurther adding to the region\u2019s appeal are the shopping and education facilities, coupled with good transport links to the Perth CBD,\u201d Ms McDougall said.<\/p>\n

Given that the City of Stirling is the largest local government area in Perth, it is projected to continue to see infrastructure improvements, which would benefit its suburbs.<\/p>\n

Moreton Bay Regional Council (Brisbane)<\/h2>\n

Suburb: Caboolture \u2013 $445,000

\nRental vacancy rate: \u00a00.7%<\/p>\n

Ms McDougall said Moreton Bay region ticks many investments fundamental boxes for property investors.<\/p>\n

\u201cA few years ago, Moreton Bay was classified as a priority growth area by the state government, with its population predicted to hit half a million within about two decades,\u201d she said.<\/p>\n

\u201cOne of the many major projects that is earmarked for the region is the development of Caboolture West, which is a growth precinct that boasts a plethora of attributes as well as affordable property.\u201d<\/p>\n

Furthermore, Caboolture West is identified as a major expansion area within the South East Queensland Regional Plan.<\/p>\n

Situated at the heart of a rapidly growing corridor north of Brisbane, Caboolture West is slated to eventually provide about 30,000 homes for around 70,000, generating nearly 3,000 jobs.<\/p>\n

\u2014<\/p>\n

Photo by @patwhelen on Unsplash.<\/p>\n<\/p><\/div>\n