The 15 highest yielding Victorian suburbs for apartments

Yield-chasing isn’t quite as popular pastime for those buying in Victoria as for those buying apartments in other states and territories.

With just 15 results above 6% gross rental yield, according to RP Data, it’s unsurprising that the majority of investors are after capital growth. Of course, not every property is made equal and astute buyers may be able to achieve strong yields even in suburbs whose headlining figure does not suggest this, and so Property Observer trawled the list of Victorian suburbs to bring you the suburbs that actually are the highest yielding.

Here are the 15 highest yielding Victorian suburbs for apartment buyers.

1. HAMILTON
   
   Median price: $85,000
   Gross rental yield: 13.46%
   
   Our only contender with a double-figure gross rental yield, the data-range may be limited. An ‘N/A’ result was provided for the area’s five and three year growth, though it notes 0.27% average annual growth. Also the cheapest suburb on the list, the apartments in the area’s median advertised weekly rent sits at $220.
   
   
2. CRANBOURNE WEST
   
   Median price: $203,000
   Gross rental yield: 7.94%
   
   
3. ALFREDTON
   
   Median price: $175,000
   Gross rental yield: 7.43%
   
   
4. INVERLOCH
   
   Median price: $295,000
   Gross rental yield: 6.87%
   
   
5. MILDURA
   
   Median price: $155,000
   Gross rental yield: 6.54%
   
   
6. HORSHAM
   
   Median price: $185,000
   Gross rental yield: 6.46%
   
   
7. MELTON
   
   Median price: $210,000
   Gross rental yield: 6.38%
   
   We have previously spotlighted Melton in a suburb profile. You can read more about this west of Melbourne area here. 
   
   
8. WHITTINGTON
   
   Median price: $189,000
   Gross rental yield: 6.33%
   
   
9. MOOROOPNA
   
   Median price: $168,000
   Gross rental yield: 6.27%
   
   
10. SWAN HILL
    
    Median price: $180,000
    Gross rental yield: 6.21%
    
    
11. SPRING GULLY
    
    Median price: $223,000
    Gross rental yield: 6.19%
    
    
12. REDAN
    
    Median price: $185,000
    Gross rental yield: 6.18%
    
    
13. WEST WODONGA
    
    Median price: $188,000
    Gross rental yield: 6.09%
    
    
14. WODONGA
    
    Median price: $185,000
    Gross rental yield: 6.04%
    
    We have previously also written about Wodonga, and its prospects for growth. The council is spending big... but will it pay off?
    
    
15. ARARAT
    
    Median price: $172,000
    Gross rental yield: 6.04%

BONUS SUBURB:

BROADMEADOWS
Median price: $273,000
Gross rental yield: 5.95%

In 2013, Broadmeadows was named one of the top mortgage delinquint locations by ratings agency Standard & Poor's.

Which state or territory would you like to know the top yielding locations for?