manly yield

[john doe]

Hi everyone,

I've just starting looking at properties in Manly. One apartment I'm interested in has a gross yield of 4.7%. Does anyone know if this is typical of Manly (in Sydney)?

Thanks

John

 

[Sam_H]

Hi John

I have bought 2 IP's in Manly in the last 2 years (1 x 1 bedder, and 1 x 2 bedder) -so its not like I have years of actual experience investing in Manly...but I haved lived in the area for 29 years and I do know many people who have invested here over the last 3 decades

Manly is a fantastic area to live, having a nice beach (best in mid-week/off-season when all the bl**dy tourists arent there), decent cafes/restaurants/bars and also good transport to the city (15mins via Jet-cat or 30mins via ferry/bus)

Over the next few years I think we will see continued demand for apartments both from gen-X and baby boomers

A gross yield of 4.7% is fair for the area I believe.
I rent the my 1 bedder out at 4.4% gross
The 2 bedder Im in the process of renovating now and I will let you know the yield I obtain in the next few weeks

All the best!

Regards


Sam

 

[john doe]

Hi Sam,

Thanks for that. I'd be grateful if you could send me a PM when you know the yield for your 2 bedder.

All the best

John