Where you should invest in rental property on the Gold Coast

first_img31 Bourton Rd, Merrimac is available for $435 per week.Reedy Creek (number 4), Elanora (number 8) and Merrimac (number 10) all made the top ten in the Top Rental Performers Report — the Gold Coast was the only region to have multiple suburbs in the top ten ranking. The report, compiled by CoreLogic using data to October 2017, listed 74 suburbs where houses or units have an estimated gross rental yield of 5 per cent or more per year. Suburbs also had to demonstrate solid rental yields, consistent rental growth and vacancy rates of less than three per cent. Reedy Creek made the list twice. 10 Peregrine St can be rented for $760 per week.In total, 12 Gold Coast suburbs made the Top Rental Performers Report, with Reedy Creek and Tugun ranked twice for high rental returns in both units and houses. Queensland recorded the highest state ranking with 24 suburbs on the list, followed by New South Wales with 19, Tasmania with 18, ACT with 10 and Victoria, three, while the remaining two states didn’t make the list.The top three suburbs were all in Tasmania.Does your suburb have the best rents?#4 Reedy Creek (units) #8 Elanora (units) #10 Merrimac (units) #15 Ashmore (units) #29 Tugun (houses)#30 Currumbin Waters (units)#33 Mermaid Waters (units)#39 Burleigh Waters (units)#41 Helensvale (units) #45 Miami (units)#58 Highland Park (houses)#70 Reedy Creek (houses)#73 Tugun (units)#74 Coombabah (houses) The rooftop apartment at 1 Toombul Ave, Miami is listed for $700 per week. The view at unit/90 Marine Pde, Miami will cost you $650 per week.More from news02:37International architect Desmond Brooks selling luxury beach villa20 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoUnits lead the way with the top three Gold Coast suburbs ranked due to the rental apartment market over the past 12 months.Reedy Creek recorded 5.3 per cent increase and 6.3 per cent gross rental yield in median rent; in Elanora, the median rent rose by 6.9 per cent and investors received a 6.1 per cent per year return.Merrimac was the fastest mover with a median rent hike of 12.5 per cent delivering a 6.1 per rental yield.The Coast suburb that performed the best rental return for houses was Tugun, ranked #29 on the list overall. center_img Merrimac was one of the most profitable suburbs for rental units.IF you’re looking to invest in property on the Gold Coast, these suburbs are where you should be looking.The Gold Coast has dominated a new report revealing the ‘best rents’ suburbs across Australia, with units in inner localities leading the way. It has two bedrooms and two bathrooms.last_img read more