A buyer’s agent cautioned that unusually high residential yields can signal risk rather than opportunity, describing an inspection of a Queenslander advertised at more than $200 a week above local rents that turned out to be illegally subdivided for multiple tenancies. Purchases in mining towns during the resources boom were cited as a similar trap. Physical inspections, council checks and questioning the agent were recommended.
Reported by
Steve Waters, The Real Estate Conversation, 20 February 2020
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