Hefty residential rentals in the booming Pilbara rivalling the east coast's wealthy suburbs

Rents in mining towns in the Pilbara region of Western Australia are among the highest in Australia, with often modest and uninspiring houses asking exorbitant rents, especially when you consider what you’d get for about the same price in the prestige suburbs on Sydney Harbour and Melbourne’s south east. Following on from our list of the seven most expensive WA boom towns, we’ve picked out some Pilbara houses up for rent and compared them with what you could rent in Sydney and Melbourne in a similar price bracket:

Less than $1,000 per week

Wickham, Karratha (yields 10% to 12%)

There are just three properties listed for rent at under $1,000 per week across the suburbs of Karratha, Port Hedland and Dampier, according to real estate.com.au. This is the only house – a three-bedroom property in Wickham, a suburb of Karratha asking $750 per week and listed by Dianne Huggins from North West Realty – Karratha.

Woolloomooloo, Sydney (yield 3.8%)        

For $700 per week, you can rent a one-bedroom apartment with views over Garden Island on Cowper Wharf Road listed by Kerry Madeheim Morton and Morton Woolloomooloo

Carlton, Melbourne (yield 3.2%)

This three-bedroom Victorian Terrace on Rathdowne Street is available to rent at $700 per week listed by Claire Spence listed by Nelson Alexander Real Estate Fitzroy.

$1,001 to $2,000 per week

South Hedland (yield 10.2%)

This raised three-bedroom, one-bathroom property on Pedlar Street is asking weekly rent of $1,400, exactly the median rent for South Hedland.  It is listed by Ashlee Morris from Hedland First National Port Hedland. A three-bedroom property recently sold on the same street for $795,000, reflecting a yield on this weekly rent of 9.16%

Balwyn North, Melbourne (Yield 2.3%)

Asking $1,950 per week, this five-bedroom European-influenced fully furnished house includes a grand entrance with staircase and a formal dining room with ornamental open fireplace and is listed by Cherie Leman from Fletchers Canterbury

$2,001 to $3,000 per week

Port Hedland (yield 10.72%)

This three-bedroom house with palm trees on McPherson Street, currently under application at $2,700 per week, is listed by Joanne John from Crawford Realty.  A nearby five-bedroom property at 58 McPherson Street was sold by John Briggs of Port Hedland Real Estate for $1.31 million in February this year. At a weekly rent of $2,700 this would equate to a yield of 10.72%.

Balwyn, Melbourne (yield 2.3%)

Asking $2,900 per week, this-four bedroom Mediterranean-style house is set in manicured fountained gardens. The property is listed through Thomas Moreland Real Estate

Pyrmont, Sydney (yield 3.7%)

Available to rent at $2,800 per week is this three-bedroom Pyrmont apartment listed by Gerard Marino from Morton and Morton Pyrmont. The apartment features expansive 270-degree views across Sydney Harbour, the city, Harbour Bridge and Blackwattle Bay, and it has a huge balcony and air-conditioning.

More than $3,000 per week

Baynton West, Karratha, Pilbara (yield 9.9%)

Asking $3,400 per week, this four-bedroom, four-bathroom home features a swimming pool, corner pantry and powder room. The property is listed through Pilbara Real Estate.

Toorak, Melbourne (yield 2.1%)

Asking $3,500 per week, this five-bedroom family home includes “resort-style” facilities including gas- and solar-heated swimming pool, tennis court, trampoline and deck area with built-in barbecue. It is listed by Hayley Mitchell from Mitchell Property Management

Elizabeth Bay, Sydney (yield 4.8%) 

Asking $3,500 per week, this five-bedroom waterfront apartment is set over 390 square metres and has been fully restored. It includes and entrance with cathedral high, ornate designed ceilings and an imposing formal lounge with bay window, and a separate dining room. It is listed through Jenni Favas from Morton and Morton