Queenstown ticks the boxes on yield AND capital growth
Once a very seasonal town, Queenstown now attracts tourists all year round. As people move to the region to work in the growing tourism sector, demand for rental property has also surged.
We’re finding that Queenstown properties on average, are performing better than other regions in terms of yield and capital growth – giving our clients a good opportunity to diversify their portfolio.
For example, we purchased this property for $1,490,000 and have it currently rented for $1,350 pw – a yield of 4.71%.
Our clients wanted a property that was either cash flow neutral / positive at time of purchase, or could become so relatively quickly.
With lake and mountain views and being easy walking distance to central Queenstown this three-bedroom property had great tenant appeal. But importantly, it also had the bonus of an extra lounge space that was converted into the 4th and 5th bedrooms before letting – boosting the all-important return for our client.