NSW's 18 highest yielding unit locations topped out by Ultimo

Ultimo, two kilometres out of the Sydney CBD, ranks among New South Wales highest gross yielding rental suburbs at 11.3%, according to RP Data. Then Bella Vista, the outer Sydney suburb comes in as runner up.

The median weekly advertised rent in Ultimo is $500. The surprise ranking comes due to dramatic decrease in the median unit price, which suggests a shift in the type of apartments sold during the year reflected the lower end rather than the prestige end of the market. 

Property Observer lists the top 18 New South Wales rental yield locations, with yields typically ranging from 7% to 11.3%.