With interest rates stabilising, this presents an excellent opportunity for investors to secure properties at competitive prices.

Doreen: A Hotspot for Investment

Doreen stands out as a high-demand suburb, attracting an average of 30 groups per open inspection. According to realestate.com.au, median property prices over the past year were $741,500 for houses and $600,000 for units, with annual growth rates of 3% and 9.1%, respectively. Rental yields remain solid, with houses leasing for an average of $530 per week (4% yield) and units for $505 per week (4.3% yield).

Four-bedroom, two-bathroom homes with double garages are particularly sought after, especially those near quality schools, shopping centres, and public transport. These homes can command weekly rentals of around $650.

While some landlords are choosing to sell due to rising costs, those remaining in the market are encouraged to seek expert property management advice to maximise their investment potential.

Challenging Conditions for Renters

With high demand and a dwindling supply of rental homes, competition for available properties is fierce. Many landlords selling to owner-occupiers have further reduced the number of rental properties, pushing rental prices to record levels.

The intense competition has led to fewer rental applications, as potential tenants are discouraged by rising costs. To cope, more families, siblings, and friends are combining households and submitting joint applications.

For those navigating this tight market, preparation is key. Renters should begin their search at least three weeks before moving, apply for multiple properties, and approach the process with confidence. Attending inspections on time and being proactive can significantly improve their chances of securing a home.