Property Manager Oxenford
Property Manager’s Suburb Report For Investors & Landlords
Your Local Expert Property Manager
Statistics Summary – Houses
Median rental price: $470 per week.
Median sale price: $545,000
Average gross rental yield: 4.48%
Change in Median Price (House)
|.||Oxenford||Gold Coast City|
|Period||% Change||% Change|
Property Manager’s Comments & Perspective On The Area
Oxenford is one of the more affluent areas of the Northern Gold Coast corridor adjacent to the M1. It has quite a mixture of homes however the majority of which are large 250m2+ homes built within the past 20 years.
The demographics within Oxenford also vary substantially to its neighbors as the suburb has greater maturing population of retirees as well as established families. In contrast, Upper Coomera to the North or Pacific Pines to the South both have substantially higher populations of young couples and families.
Most properties I have managed in Oxenford have been large, luxury homes and I have always found a great pool of quality tenants to choose from. The type tenants that Oxenford attracts are generally more affluent than surrounding suburbs on the Western side of the motorway and experience little to no problems with paying rent on time, despite the higher than average rental prices.
According to SQM Research, the average vacancy rate in Oxenford over the past 5 years has been a very low 1.6%.
From a rental management point of view there are no downsides to Oxenford.
From purely an investment point of view however, rental yields are lower than broader corridor region at 4.48% so in order to beat returns in neighboring areas, an investor would be relying on a greater capital growth rate than say Upper Coomera with a 4.88% gross rental yield.
Capital growth rates however have remained sideways since about the start of 2017:
What is the best way to find quality tenants in this area?:
Given the amenities and attractiveness of the area, Oxenford has always been a ‘high interest’ suburb for rental listings to draw enquirers. Additionally, there are very seldom more than a single page of rental listings available on the major websites such as realestate .com .au.
With this in mind, it’s no wonder the vacancy rate is so low and more often than not if there is little to no enquiries then there is simply either something wrong with the advert or the asking price is too high (thankfully we never have a problem with the former!)
So 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.
There are plenty of quality tenants, the vacancy rate is very low and demand for housing is high.
As outlined above, gross yield declines the higher the property prices are, however more affluent tenants equals fewer potential financial issues when it comes to payment of rent.