Rents remain consistent
RP Data figures for the 12 months to March indicate median rental yields have remained healthy across the Australian capitals.
Gross rental yields across the capitals were around 3.8% for houses and 4.6% for units.
Rental growth has been modest over the period, largely due to the increased number of investors recognising the opportunity of record low interest rates in the marketplace.
Darwin has been a high performing area, with rental yields of 5.9% for houses and 6.2% for units.
Key findings from the RP Data report include:
- Houses - Darwin holds the highest median rent ($630 per week) while Hobart had the cheapest ($337)
- Units - Sydney holds the highest median rent ($591) while Hobart had the cheapest ($284)
- Highest Rental yields - Darwin for houses (5.9%) and units (6.2%)
- Largest change over the quarter – Sydney for houses (1.6%) and Hobart for units (1.7%)
- Largest change over the 12 months – Sydney for houses (4.1%) and units (4.3%).