Buying a rental in Hamilton? Here's one chart you need to see...
Wouldn’t you want to know whether rents in your suburb are outperforming or underperforming other suburbs before investing in a rental property?
Well, we thought that would be interesting to see, so we crunched the numbers and presented them in this neat little map for you.
Hamilton as a whole saw 3-bedroom rents increase by 6.9% ($30/wk) over the last 12 months.
Interestingly some popular suburbs like Chartwell (+6.3%), Dinsdale (+6.5%) Rototuna North (+6%) and Flagstaff (+5.4%) saw rent increases lag behind the city’s average (+6.9%).
So which suburbs outperformed the average?
Fitzroy (+16.6%) and Forest Lake (+15.9%) were the two standouts, however those suburbs each account for just 1% of the city’s stock of 3-bed rental properties, so perhaps we should refrain from any conclusions there.
Of the more popular suburbs we saw Frankton, Hamilton East, Nawton, Melville and Enderley all post rental increases of 11% or more.
Winding the clock back 5 years shows a similar story for all those suburbs.
The lesson to take out of this for any investing in Hamilton property? Invest in suburbs where rents are growing, not stagnating.