Property Manager’s Suburb Report For Investors
Suburb Statistics Report
Your Local Expert Property Manager
Statistics Summary – Houses
Median rental price: $430 per week.
Median sale price: $465,000
Average gross rental yield: 4.81%
Change in Median Price (House)
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Property Manager’s Comments & Perspective On The Area
Pimpama is a fast expanding suburb with many modern homes and new developments that continue to open up. The median rental prices are very affordable for young families which is typically the main demographic of renters in the area.
There are many major amenities close by that include Westfield Coomera, direct M1 motorway access and a multitude of parks, schools and sporting facilities.
My experience has been that vacancy is low and properties that are priced correctly tend to be rented within the first 1 – 3 inspections.
The average vacancy rate over the past 5 years within Pimpama has been 2.1% according to SQM Research.
The only real downside to Pimpama is the relatively high percentage of investor owned properties which outstrips the owner occupied properties at a rate of approximately 3 to 1. This has mostly been due to the high investor demand and promotion of Pimpama as one of the fastest growing suburb in Australia by population.
This could potentially affect capital growth rates moving forward however from a rental return point of view, given the location and amenities on offer there has always been a good pool of quality tenants to choose from.
Quality tenants are abundant, vacancy is low and demand for housing is high. I also expect this strong rental demand for Pimpama will continue even more so into the future as bordering regions further away from the M1 motorway open up to development – this will mean Pimpama is viewed as being even more centrally located than it is presently.
Local Businesses In Pimpama
Pristine Carpet Services
Carpet Cleaning Gold Coast – well known and reliable carpet cleaning and repair services.