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(By Dugald McGinness – Bond University Journalism Student)
In a survey published in the March/April edition of Australian Property Investment magazine found that Varsity Lakes was the third fastest growing rental market in the country.
The survey titled 50 Suburbs For Fastest Rental Growth identified the Varsity Lakes train line opening in December last year as a critical factor for increased rentals in the suburb making it one of the fastest growing investment opportunities in Australia.
Varsity Lakes Ray White Real Estate team leader Josh Volz said the opening of the Varsity Train station was a positive step for the future growth of Varsity Lakes.
“Investors who are looking at properties in the area certainly do take into account that the rail has been extended and there is still a lot of development to take place in and around the station which will definitely have a big impact on Varsity [Lakes},” he said.
Mr Vloz said access to Brisbane, the domestic and international airports, combined with the closeness to the beach made the area an attractive to potential renter.
“When demand for rental property increases the prices go up,” he said.
“Interest rates are on the rise again which means people are opting to rent as opposed to buy.”
Mr Volz said the marketing of developments such as Chancellor, Lakeside Chancellor and H2O do not seem to have affected rental prices in the suburb.
“There is high demand for properties such as H2o which is why they are almost sold out. H2o is a stunning complex and was certainly a welcomed addition to the Varsity Precinct,” he said.
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