I am looking into either a one bedroom or two bedroon unit in hawthorn, Melbourne. Anyone have any input or dealings with this area and these type of properties, values and projected rental return. Just from my homework it seems that there are a lot more 2 bedrooms for rent than there are one bedroons. Looking to speak to anyone with experience in this area.
hawthorn, Melbourne
- Thread starter sam
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Hi Sam,
We have a 2 bedroom flat in Hawthorn. The bank valued it last month at $213k and it is rented at $200 per week. It is ideal for students, being near Swinburne Uni.
I would imagine that the area would also appeal to a professional couple due to its closeness to the city and the fact it is a very nice suburb (not sure if you are from Melbourne and know much about it?) To get that type of tenant though you would probably have to spend more to get a more attractive flat (ours is pretty grungy) - we'd need to spend around $10k at least to get ours looking better.
I don't know much about 1 bedroom flats in the area.
Hope that helps you.
Chantal
We have a 2 bedroom flat in Hawthorn. The bank valued it last month at $213k and it is rented at $200 per week. It is ideal for students, being near Swinburne Uni.
I would imagine that the area would also appeal to a professional couple due to its closeness to the city and the fact it is a very nice suburb (not sure if you are from Melbourne and know much about it?) To get that type of tenant though you would probably have to spend more to get a more attractive flat (ours is pretty grungy) - we'd need to spend around $10k at least to get ours looking better.
I don't know much about 1 bedroom flats in the area.
Hope that helps you.
Chantal
Hi Sam,
Just a thought, but could it be that there are more 2 bedders up for rent because there are proportionally more 2 bedroom apartments in Hawthorn. I would think Hawthorn would have more 2 bedder apartments because it is more of a family area.
As for Hawthorn itself, solid profit growth and moderate rental yields but with good scope for appreciation in both.
What alot of people dont realise is that rental yield might be low in high cap growth areas, but in the long run, rental appreciation is greater and the rent yield will still be based on your original purchase price (or u can increase priginal PP by inflation if you want). Hence I am happy buying a low yield investment in a high growth area safe in the knowledge that in the long run, my rental income will be WAY better than a low growth area.
Just a thought, but could it be that there are more 2 bedders up for rent because there are proportionally more 2 bedroom apartments in Hawthorn. I would think Hawthorn would have more 2 bedder apartments because it is more of a family area.
As for Hawthorn itself, solid profit growth and moderate rental yields but with good scope for appreciation in both.
What alot of people dont realise is that rental yield might be low in high cap growth areas, but in the long run, rental appreciation is greater and the rent yield will still be based on your original purchase price (or u can increase priginal PP by inflation if you want). Hence I am happy buying a low yield investment in a high growth area safe in the knowledge that in the long run, my rental income will be WAY better than a low growth area.
