The 47 brightest localities for rental yields on Smart Investor's list of 601 suburb hotspots
There are 47 suburbs currently offering property investors gross rental yields of 6% or more with list headed by the remote Queensland mining and agricultural town of Roma, analysis of Smart Investor magazine’s top 601 suburbs list has revealed.
The hotspot list is based on those suburbs where dwelling prices appreciated the greatest over the 12 months to December 2011.
NSW has the highest proportion of high-yielding suburbs with 13, followed by 12 in Queensland, 10 in Victoria, six in Tasmania three in South Australia, two in Western Australia and one in the Northern Territory.
Roma, a town in the western Darling Downs area of south-west Queensland, 515 kilometres west of Brisbane, is currently offering the highest gross rental yield of all 601 suburbs on the list.
Houses in Roma have a gross rental yield of 8.7% with a median price of $300,000 and a median weekly rent of $300.
Next on the list is the small town of Queenstown (just 5,000 people) in the western coast region of Tasmania, where the median house prices is under $90,000.
Weekly median rents in Queenstown are $150, equating to a yield of 8.2%. The town is the home of the West Coast Wilderness Railway, a 35-kilometre journey to Strahan on a 100-year-old steam-powered locomotive as well as a thriving arts community.
NSW’s top-yielding location is also extremely remote – Broken Hill in the NSW outback, where the median house price is just $127,500, the median weekly rent is $200 and the median gross rental yield is 7.5%.
NSW suburbs with top rental yields of 6% or more
| Median price | Median weekly rent | Gross rental yield |
Broken Hill houses | $127,500 | $200 | 7.5% |
Warwick Farm units | $226,000 | $280 | 7% |
Moree houses | $231,500 | $230 | 6.9% |
Lakemba units | $256,000 | $320 | 6.6% |
West Kempsey houses | $215,000 | $250 | 6.5% |
Fairfield units | $260,000 | $315 | 6.4% |
Wiley Park units | $270,000 | $315 | 6.4% |
Kurri Kurri houses | $257,500 | $290 | 6.3% |
Gunnedah houses | $269,000 | $285 | 6.3% |
Glenn Innes houses | $199,000 | $200 | 6.2% |
Young houses | $235,000 | $230 | 6% |
Roselands units | $323,500 | $330 | 6% |
Minto houses | $318,500 | $350 | 6% |
Queensland suburbs with top rental yields of 6% or more
| Median price | Median weekly rent | Gross rental yield |
Roma houses | $300,000 | $480 | 8.7% |
Emerald houses | $412,250 | $550 | 7.6% |
Calliope houses | $447,000 | $550 | 6.6% |
Spring Hill units | $388,500 | $450 | 6.5% |
Brisbane units | $430,000 | $295 | 6.5% |
Nth Mackay houses | $350,000 | $432 | 6.2% |
S. Gladstone houses | $395,000 | $370 | 6.1% |
Glen Eden houses | $463,000 | $550 | 6% |
Slade Point houses | $380,000 | $400 | 6% |
Clinton houses | $450,000 | $520 | 6% |
W. Gladstone houses | $410,000 | $430 | 6% |
Sth Mackay houses | $360,000 | $390 | 6% |
Victorian suburbs with top rental yields of 6% or more
| Median price | Median weekly rent | Gross rental yield |
Red Cliffs houses | $173,500 | $180 | 7.9% |
Morwell houses | $165,000 | $180 | 6.8% |
Morwell houses | $165,000 | $180 | 6.8% |
Moe houses | $160,000 | $190 | 6.7% |
Maryborough houses | $185,000 | $230 | 6.5% |
Horsham houses | $214,000 | $225 | 6.4% |
Eaglehawk houses | $234,250 | $270 | 6.2% |
White Hills houses | $274,000 | $275 | 6.1% |
California Gully houses | $227,500 | $260 | 6.1% |
Norlane houses | $203,000 | $230 | 6.1% |
Tasmania suburbs with top rental yields of 6% or more
| Median price | Median weekly rent | Gross rental yield |
Queenstown houses | $89,500 | $150 | 8.2% |
Bridgewater houses | $177,000 | $245 | 7.3% |
Ravenswood houses | $163,500 | $200 | 6.4% |
Rokeby houses | $209,000 | $248 | 6.3% |
Glenorchy houses | $255,000 | $290 | 6% |
Invermay houses | $216,500 | $250 | 6% |
South Australia suburbs with top rental yields of 6% or more
| Median price | Median weekly rent | Gross rental yield |
Ceduna Houses | $265,000 | $270 | 6.8% |
Roxby Downs houses | $415,000 | $460 | 6.3% |
Elizabeth Downs houses | $197,000 | $240 | 6.3% |
WA suburbs with top rental yields of 6% or more
| Median price | Median weekly rent | Gross rental yield |
Kalgoorlie houses | $312,000 | $370 | 6.6% |
Boulder houses | $263,000 | $320 | 6.6% |
NT suburbs with top rental yields of 6% or more
| Median price | Median weekly rent | Gross rental yield |
Katherine East houses | $335,000 | $380 | 6.1% |