Cairns is undisputed king of rental yields for units

Cairns is undisputed king of rental yields for units
Cairns is undisputed king of rental yields for units

When it comes to rental yields on a property, there’s no beating Cairns when it comes to apartments.

The Queensland city occupies eight spots in the Top 10 highest gross rental yields compiled by CoreLogic, including the top four.

The southern suburb of Woree in Cairns tops the list with a rental yield of 8.7 percent on a median unit value of $137,358, according to CoreLogic’s Best of the Best 2016 report that tracks various housing indicators up to the 12 months to September 2016. 

The only other suburbs not from Cairns are Elizabeth East and Davoren Park in Adelaide’s Playford, occupying fifth and sixth places, respectively.

 Cairns is undisputed king of rental yields for units

According to the latest RP Data, the median asking rent for Woree is $255 per week.

Property Observer looked around for units around the median value of $137,358 on RP Data to see what their current yields were. 

A two-bedroom unit at 3/10 Girralong Street Woree, QLD, 4868, which last traded owners in 2014 for $136,000 was last rented out for $260 pw, which gives a rental yield of 9.94 percent.

Cairns is undisputed king of rental yields for units

Another two-bedroom unit at 2/1 Sandown Close Woree, QLD, 4868, which sold in June 2016 for $133,000 was last leased for $260 pw, implying a solid yield of about 10.16 percent. 

 Cairns is undisputed king of rental yields for units

Tags: 
Rental Yield Cairns

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