Rental shortage has unexpected upside for Coast
A SHORTAGE of rental properties is bad news for would-be tenants but not for potential investors.
Real estate agent Tony Nioa from PRD Maryborough said the upside to the shortage was stronger interest from investors, who were interested in the region because of its high-yield returns.
In some cases, people were buying more than one investment property on the Fraser Coast, Mr Nioa said.
"We certainly are experiencing a shortage of quality rental properties," he said.
"They are always sought after, but even more so at the moment."
During the COVID-19 lockdown, people had found time to consider their investment strategy, he said.
Maryborough had diverse industries and wasn't as reliant on tourism as other areas, which also increased its appeal during the pandemic, Mr Nioa said.
"The Fraser Coast and Maryborough is particularly high yield," he said.
People are seeking Fraser Coast rental properties from outside the region as well.
"It's still affordable and the lifestyle is far better than living in a high-rise apartment," he said.
"We have good tenants inquiring on a regular basis."
Real estate agent Cindy Pavey from Wal Pavey Real Estate in Maryborough said the agency currently had one house and one unit to rent - but that meant there were a lot of available tenants if investors bought now.
She said they were receiving regular inquiries from people but properties were in short supply.
"It's a great opportunity for investors," she said.
"The rent return is very good for what you can purchase."