Property Manager Ormeau
Property Manager’s Suburb Report For Investors & Landlords
Your Local Expert Property Manager
Statistics Summary – Houses
Median rental price: $440 per week.
Median sale price: $500,000
Average gross rental yield: 4.58%
Change in Median Price (House)
|.||Ormeau||Gold Coast City|
|Period||% Change||% Change|
Property Manager’s Comments & Perspective On The Area
Ormeau is a unique suburb with an attractive mixture of properties ranging from medium density residential homes, to large acreage lots, commercial and shopfront, industrial warehouses, as well as terraced homes & townhouses.
From a rental management point of view, this diverse range of both residential and commercial properties means that Ormeau attracts a wide range of tenants seeking affordable lifestyle homes close to their job or major industry.
Given the amenities and lifestyle offered, Ormeau is one of the most desirable suburbs along the Gold Coast corridor and in my experience, has been one of the easiest suburbs in which to rent properties and keep medium to long term tenants.
The average vacancy rate over the past 5 years within Ormeau has been 1.9% according to SQM Research.
There really is no major downside to owning in Ormeau as far as being able to find and keep good tenants. In the bigger picture, Ormeau has experienced rather unfortunately low growth over the past 10 years and has not kept up with the Gold Coast average, eking out an average growth rate of just 0.7% (compared to the Gold Coast 10 year average of 2.6%).
However, this has kept the area affordable to first & second home buyers and leaves the door open for more investors to step in, especially considering that Ormeau has a lot less percentage of investor owned properties (standing at 31%) compared to it’s neighbors to the South in Pimpama and Upper Coomera (at over 60% investor owned), which is certainly a net positive for Ormeau.
What is the best way to find quality tenants in this area?:
The best way to find quality tenants in Ormeau is to target the right demographic with the advert copy and images. There are two major groups within the suburb; families and couples.
Ensuring adverts have good quality photos of major selling points such as kitchen, bathrooms, living areas, outdoor entertaining and view/perspective are key to getting the most amount of enquirers and applications.
Sometimes competition can be high and in these times, I will recommend a ‘feature’ or ‘highlight’ advert on realestate .com .au. Also depending on the type of property, this can be an advisable option, especially if asking a premium with a unique home.
There are plenty of quality tenants, the vacancy rate is very low and demand for housing is high. Additionally, gross yield within the suburb remains higher than the average within the broader Gold Coast region despite the lower-than-average growth.
Local Businesses In Ormeau
All Occasions Specialty Cakes
Customised celebration cakes on the Gold Coast, Scenic Rim, Logan, Brisbane, Northern Rivers and everywhere in between.
Tungsten Home Loans
Tungsten Home Loans has been established to provide you a true Mortgage Broking service. The service we envisage is not just to provide Mortgages, but to encourage the long term financial success of you and your family.
Professional team with over thirty years of combined experience in wedding photography and capturing Family Portraits