Broken Hill tops property rental yields at 10 percent
Broken Hill tops CoreLogic RP Data's latest list for top NSW investor rental yields.
Median Gross Yield
| Suburb | median rent | Gross Yield |
|---|---|---|
| Broken Hill | $230 | 10.1% |
| Cobar | $280 | 9.1% |
| Tuross Head | $580 | 8.6% |
| West Wyalong | $240 | 8.5% |
| Malua Bay | $700 | 8.2% |
| Condobolin | $238 | 8.0% |
| Darlington Point | $228 | 7.9% |
| Wellington | $210 | 7.8% |
Property Observer profiles Broken Hill in NSW from a rental perspective.
The median sale price of a house in Broken Hill was $118,000, compared with a national average of $485,000.
The median price change over one year was 10.50 percent.
While median rent was $230pw against a national average of $395, the median gross yield was 10.1 percent.
Property Observer went looking for dwellings around the median price up for rent or rented and came up with these:
1. A furnished three-bedroom house at 10 King Street (above) is up for rent for $250 pw, at a rental yield of about 13 percent. This property sold for $99,000 in June 2015.
2. A two-bedroom house at 49 Bonanza Street (above) has a rental of $240 pw. This one sold way back in 2004 for $55,000, according to CoreLogic RP Data.
3. A three-bedroom house at 628 Argent Street (above) matches the median rental of $230 pw, and yields 13.3 percent. This one last traded for $90,000 in 2014.
4. A three-bedroom house at 38 Cummins Street (above) is also available for $230 pw. The last sale price for the property was $142,000 back in 2005.
5. Another three-bedroom house at 627 Chapple Lane (above) is available for $220 pw. This last traded price for this property was $35,500 in 2003, CoreLogic RP Data shows.