Runaway rental returns

Research by the Australian Property Investor found Belmont had a 5.79 per cent unit yield because of the area’s proximity to the city and the airport.

Complete Property Management owner Jo Beecroft, who has worked in the area for six years, said the agency had no problem renting properties in the Belmont area, especially those under $500 a week, because of people interested in downsizing.

‘We have a lot of people wanting to live in Belmont, especially fly-in fly-out workers,’ Ms Beecroft said.

Long-serving LJ Hooker Belmont licensee Jane Bayliss said the council and affordability in Belmont meant rentals in the area went quickly and investors got a good return on rent.

‘For proximity to the city you can get a bargain in Belmont,’ Ms Bayliss said.