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Rental yields hit new lows in Sydney and Melbourne

Rental yields hit new lows in Sydney and Melbourne

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Australia’s two largest cities have experienced falls in rental yields, as have four other capitals.

According to new figures from CoreLogic RP Data, rental yields both for houses and units in Australia’s combined capital cities fell during the 12 months to July.

Houses declined from 3.8 per cent to 3.4 per cent, while units fell from 4.6 per cent to 4.3 per cent.

The tightest yields were in Melbourne, where house yields fell from 3.3 per cent to a record-low 3.0 per cent and unit yields dropped from 4.2 per cent to 4.1 per cent.

Sydney’s houses fell from 3.7 per cent to a record-low 3.2 per cent, while units fell from 4.5 per cent to 4.2 per cent.

In Perth, houses fell from 4.2 per cent to 3.9 per cent, while units dropped from 4.6 per cent to 4.5 per cent.

Adelaide’s house rental yields fell from 4.3 per cent to 4.2 per cent and units dropped from 4.9 per cent to 4.7 per cent.

In Canberra, houses remained steady at 4.1 per cent, while units remained unchanged at 5.0 per cent.

Houses in Brisbane fell from 4.5 per cent to 4.4 per cent, but units rose from 5.3 per cent to 5.5 per cent.

Houses in Hobart were unchanged at 5.2 per cent, while units rose from 5.2 per cent to 5.3 per cent.

Darwin’s house rental yields fell from 5.9 per cent to 5.7 per cent, while units dropped from 5.8 per cent to 5.5 per cent.

[Related: National rental yields fall to lowest in years]

 

Rental yields hit new lows in Sydney and Melbourne
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