I'm looking to buy an investment property in the next six months ago and have been looking into student accommodation. I'm from Melbourne myself, but am considering buying in NSW. For about $250K, you can buy a 51sqm student loft style apartment, that rents out for $456 approx per week. Prices and rent vary depending on size of apartment. The rental return appears to be around 9-10%.
I was just wondering whether Student Accom is a good investment, or whether I should stick to houses? The return seems great in comparison to what you would make on a house worth $250K, but house prices go up and you make your money there... I dont know whether student accom does.
Any advice would be greatly appreciated :-)