Thinking about buying in Rita Island? Now could not be a better time, with just 202 residential dwellings it's a highly sought after location.
The average property price for this area is $552,000 with prices in this suburb ranging from $96,000 to $1,296,000.Rita Island is located near the coast as well as views of the ocean, demand is likely to be high
In Rita Island there has been a history of lower than average prices and demand, offering opportunities for investors or first home owners, especially in the context of the growth in working from home. Low average incomes in Rita Island is reflected in smaller and lower quality accommodation. Over time this may change providsing long-term returns but in the short to medium term, prices are likely to be less than state averages. The slightly lower than average earnings from occupations in Rita Island changes the housing and lifestyle preference. It is more a matter of what can be afforded rather than what would we prefer, leading to slower price increases over time. Medium density in Rita Island necessitates a mix of lifestyle options for housing, shops, open areas, and facilties. Where this is available, demand is high and growth ensured. With very low industrial sector presence in Rita Island the focus is on lifestyle, driving specific demand around facilities, services, and open space. Most people are employed in service sectors with a higher than average proportion being able to work from home. This may incease demand over the medium term.
|Median Weekly Rent||$200.00|
|Median Monthly Mortgage||$1200.00|
|Median Persons Per Bedroom||0.80|
|Average Household Size||2.00|
|Average Cars Per Dwelling||3.07|
|Average Properties Within 50M||1.00|
|5 SANDHILL RD, RITA ISLAND, QLD, 4807||3||1||2||$620,000|
None within suburb boundary(While the above schools are located with the suburb of Rita Island there may also be nearby schools whose catchments cover this suburb)
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source: Australian Government Bureau of Meteorology
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