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Melbourne suburbs reaping little reward

Melbourne suburbs reaping little reward

by Elyse Perrau 0 comments

Melbourne made up almost 60 per cent of the lowest rent-yielding suburbs, while Brisbane and Darwin made no appearance.

Melbourne made up almost 60 per cent of the lowest rent-yielding suburbs, while Brisbane and Darwin made no appearance.

According to CoreLogic RP Data figures for April, Melbourne suburbs accounted for 29 out of the 50 suburbs returning the smallest rewards to investors.

Sydney had 15 suburbs in the top 50, Adelaide three, Perth two, Canberra one and Darwin and Brisbane escaped the list altogether.

Deepdene in Melbourne topped the list with a gross rental yield of 1.66 per cent. No data was available for April 2014.

Potts Point in Sydney was next, recording a gross rental yield of 1.68 per cent. This was a significant decrease from 4.90 per cent last year.

Eaglemont in Melbourne produced a gross rental yield of 1.77 per cent, which was down from 2.38 per cent.

Horsley Park in Sydney recorded a gross rental yield of 1.78 per cent, which was down from 2.48 per cent.

Portsea in Melbourne produced a gross rental yield of 1.80 per cent, down from 2.91 per cent the previous year.

Both Kirribilli and Rossmore in Sydney recorded a gross rental yield of 1.81 per cent.

This was down from 3.98 per cent for Kirribilli, while no data was available for Rossmore.

Adelaide made its first appearance with the suburb of Walkerville producing a gross rental yield of 1.93 per cent, down from 3.00 per cent.

Balwyn North in Melbourne recorded a gross rental yield of 1.94 per cent, a decrease from 2.20 per cent the previous year.

Rounding out the top 10, the Sydney suburb of Burwood recorded a 1.99 per cent gross rental yield, which was down from 2.84 per cent. 

[Related: 3 capital cities record lowest rental yields]

 

Melbourne suburbs reaping little reward
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