2021 | Suburbs with the highest rental yield in Australia revealed

By Emily Ng

If you’re looking to invest in property in 2021, it’s important to understand rental yield to ensure you get a good return on your investment.  

Rental yield is the annual income generated from rent as a percentage of the property’s value. Higher rental yield indicates better cash flow, which can be useful when making property investment decisions.

The level of rental return you can expect is determined by factors such as the location of the property, the type of property, condition of the property, as well as supply and demand in the market. 

We’ve compiled a list of top 10 suburbs with the highest gross rental yield in each state and region in Australia. Take a look at which suburbs topped the list.

 
Track the value of your property
Compare recent sales and find out how much your property is worth
Get your free estimate now

Suburbs with the best rental yield in Canberra

Top 10 suburbs with the best rental yield in Canberra 

The suburb of Belconnen, approximately 7 kilometres north-west of the Canberra CBD tops the list for house rental yields at 5.73%. The median sale price for a Belconnen house is $405,000 and a median weekly rent of $475. 

Units in the Woden Valley suburb of Lyons, where the median sale price is $319,500 and the median weekly rent is $410 comes out on top with a yield of 6.89%.

Suburbs with the best rental yield in Sydney and Regional NSW

Top 10 suburbs with the best rental yield in Sydney

The suburb of Lawson in the Blue Mountains region leads the list, with a 4.20% yield for houses. The median sale price for a house in the area is $545,000 and a median weekly rent of $428. 

Closer to Sydney in the Liverpool area is the suburb of Warwick Farm where units have the highest rental yield of 4.92%. The median sale price for units is $367,500 and median weekly rent is $350.

Top 10 suburbs with the best rental yield in regional NSW

The suburb of Wellington, located in the Dubbo area tops the list for best rental yield for houses in regional NSW with a yield of 9.71%. The median sale price for a house in Wellington is $170,000 and a median weekly rent of $295. 

For units, Moree in northern NSW has the highest yield at 9.35%. The median sale price for a unit is $115,000 and a median weekly rent of $200.

Suburbs with the best rental yield in Brisbane and regional QLD

Top 10 suburbs with the best rental yield in Brisbane and on the Gold Coast

Located in the City of Redland, Russell Island is a 15 minute water taxi ride from Redland Bay. With a median sale price at $255,000 and median weekly rent of $265, Russell Island has the highest house rental yield at 6.69%. 

For units, Edens Landing in Logan takes the title with a rental yield of 8.05%. The median sale price of a unit is $223,000 with median weekly rent of $295.

Top 10 suburbs with the best rental yield in regional QLD 

The small rural town of Mount Morgan in the Rockhampton Region where the median sale price of a house is $114,500, and the median weekly rent is $200 is at the top of the list with a double digit yield of 12.48%.

Woree, a suburb of Cairns has the highest yield for units at 13.16%. Units in Woree have a median sale price of $132,500 and median weekly rent of $270.

Suburbs with the best rental yield in Adelaide and regional SA

Top 10 suburbs with the best rental yield in Adelaide 

In the Northern suburb of Adelaide, Elizabeth North takes the title of highest house rental returns with a yield of  8.37%. The median sale price for a house is $174,500 and the median weekly rent is $260. 

Ingle Farm, around 12 kilometres north east of Adelaide's CBD has the highest rental yield for units at 7.26%. The median sale price for a unit in Ingle Farm is $193,000 with a median weekly rent of $255.

Top 10 suburbs with the best rental yield in regional SA

Bordertown, located in the south east of SA near the Victorian border is the suburb with the highest rental yield for houses with a yield of 8.71%. The median sale price for a house is $163,500 and median weekly rent is $230. 

Port Lincoln, a city on the Eyre Peninsula, has topped the list for highest unit rental yields at 6.84%. Units in Port Lincoln have a median sale price of $265,000 and median weekly rent of $250.

Suburbs with the best rental yield in Melbourne and regional VIC

Top 10 suburbs with the best rental yield in Melbourne

Corio, one of the largest suburbs of Geelong has the highest house rental yield in Melbourne at 4.63%. Median house sale price in Corio is $392,500 and a median weekly rent of $320. 

The inner-north suburb of Carlton takes the title for highest rental yield for units at 6.35%. Carlton units have a median sale price of $282,000 and median weekly rent of $369.

Top 10 suburbs with the best rental yield in regional VIC

The town of Red Cliffs in the Sunraysia region, has the highest rental yield for houses in regional VIC at 7.74%. The median sale price for a house is $295,000 and a median weekly rent of $300. 

The rural town of Mooroopna, 181 kilometres north of Melbourne has the best rental yield for units at 6.84%. The median sale price for units is $163,000 and median weekly rent of $235.

Suburbs with the best rental yield in Perth and regional WA

Top 10 suburbs with the best rental yield in Perth 

Cooloongup in the outer southern suburb of Perth has the highest house rental yield at 6.99%. Cooloongup houses sell for a median of $276,250 with a median weekly rent of $300. 

Kelmscott, 5km away from Armadale, tops the list for highest unit yield of 7.40%. The median sale price for a unit is $283,000 and $260 median weekly rent.

Top 10 suburbs with the best rental yield in regional WA

The suburb of Merredin, located in the central Wheatbelt has the highest rental yield for houses in regional WA at 13.83%. The median sale price is $111,500 and median weekly rent is $280. 

The data shows that Port Hedland, the second largest town in the Pilbara region of Western Australia tops the list for unit yields at 14.21% where the median sale price is $210,000 and median weekly rent is $450.

Suburbs with the best rental yield in NT

Top 10 suburbs with the best rental yield in NT 

The big country town of Katherine, three hours drive south of Darwin, has the highest rental yield for houses in NT at 8.24%. Katherine houses sell for a median price of $340,000 with a median weekly rent of $473. 

The suburb of Bakewell in LGA of Palmerston tops the list for best unit rental yields at 7.94%. Units in Bakewell have a median sale price of $157,500 and median weekly rent of $315.

Suburbs with the best rental yield in TAS

Top 10 suburbs with the best rental yield in TAS

Risdon Vale, an outer suburb of Hobart located on the eastern shore of the River Derwent is the suburb with the highest rental yield in TAS for houses at 7.35%. The median sale price of a house is $335,000 and median weekly rent is $380. 

Mowbray, a suburb of Launceston has topped the list for highest unit rental yields at 6.75%. The median sale price of units in Mowbray is $207,500 and median weekly rent of $290. 

Where is this data from? 

The data is collected from CoreLogic. Data reflects January to December 2020 period and suburbs must have at least 30 sales and 30 rental listings in the last 12 months to be included in the list. 

Median sale price: The median sale price of all transactions recorded during the last 3 month period.

Median Rent: The middle value of advertised weekly rents captured by CoreLogic during the 12 month period

Rental yield: The CoreLogic AVM rental yield is calculated at the geography and is based on the annualised rent (Median Asking Rent x 52 (weeks)), divided by the median AVM of those properties advertised for rent.

 
Thinking of selling? We can save you hours of research
Let us shortlist the top local agents for you
Find the right agents now
 

Recent posts