House rental yields lowest in Melbourne, highest in Darwin: CoreLogic RP Data
House yields for Melbourne and Sydney are at a record low of 3.1%, according to CoreLogic RP Data's August Rental Index.
The review noted yields for houses are highest in Darwin, at 5.5%, with unit yields are lowest in Sydney and Melbourne at 4.1% and highest in Hobart and Darwin (5.5%).
"Across most cities house rental yields are lower now than they were at the same time last year, with Canberra the only exception with gross yields steady over the year," it stated.
"The unit market shows similar trends to the detached housing market. Yields are higher than a year ago in Hobart, while gross yields in Brisbane are unchanged and elsewhere yields have softened over the past year.
"The cheaper up front cost of units and their relatively weaker capital growth performance is resulting in a lower decline in yields."
