Local real estate agents are still seeing investors moving into the property market, a move largely due to high rental yields.
Alison Veivers-Russell from Real Property Vibe said bankers were seeing current conditions positively, despite rising interest rates.
“It’s always a great time to buy in Beenleigh, but right now the rental yields are high, and vacancy rates are low, which is awesome for investors when seeking a bank loan,” she said.
“Beenleigh is so underrated; it is halfway between Brisbane and Gold Coast very affordable with excellent amenities and community spirit.”
It’s not often neighbouring properties are put on the market.
But backyard neighbours at 5 York Street and 4 Amelia Street have been listed at almost the same time.
“The owners of the York Street property are from the Gold Coast and have owned the property for five years, as an investment property,” Mrs Veivers-Russell said.
“They have now decided to cash in their investment while the market is still relatively good, and they are of retirement age.”
Mrs Veivers-Russell said the property has current tenants leasing until November 2023.
“They’ve been in the home for two years and would love to stay,” she said.
The small home is located on a large 736sqm block and has two bedrooms, one bathroom, a large sunroom and has a solar powered hot water system.
“It’s a lovely cosy home in central Beenleigh, close to everything,” Mrs Veivers-Russell said.
Directly behind it, is 4 Amelia Street which is set to go on the market in early 2023.
“This property has been owned by a Beenleigh local for almost 30 years,” Mrs Veivers-Russell said.
“The property is an investment property and has been leased to the same tenant for 20 years, who is now in the process of moving out.”
Mrs Veivers-Russell said the Ameila Street property is ripe to renovate.
“It’s situated in a cul-de-sac, on a great sized block, right around the corner from the Beenleigh Bowls Club,” she said.
“I would love to see this home renovated, it has feature breeze blocks at the entry that are on trend and with a tweak of the floorplan, and a trendy reno, extra value could easily be achieved with this property.
“I believe a savvy investor will see the potential of these properties, possibly renovate and live in one and rent out the other.
“The biggest advantage obtaining both properties would be the two-street access and a total of 1466sqm of land.
“There is also definitely a fantastic opportunity for future development, with … capital growth potential.”
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