The best-performing suburbs in Australia have been revealed by new data, with suburbs spanning four states and one territory returning rental yields in excess of 15 per cent.
There are six suburbs in Australia returning a yield of 15 per cent or more, according to the latest CoreLogic RP Data – the majority from coastal areas reliant on holiday tourism.
Mission Beach in Queensland gives back the most, with a rental yield of 37.27 per cent for units.
That figure is calculated on a median unit price of $60,000 and a weekly rent of $430 in the popular tourist village.
Far away from the coastline is Thurgoona, an outer suburb of Albury in NSW.
With a median price of $70,500 and a weekly rent of $287.50, units there return a yield of 21.21 per cent – making it one of the two non-coastal suburbs to feature on the list.
Tasmania’s Bicheno, on the east coast, recorded a yield of 18.39 per cent for houses, based on a median value of $280,000 and rent of $990 per week.
Zuccoli, in the Northern Territory, ranks fourth with a yield of 16.07 per cent for houses – and is the only other non-coastal exception to the list.
That figure is calculated on a median price of $233,000, likely influenced by a recent land release in the outer-Darwin suburb, and a weekly rent of $720.
With a weekly rent of $2,690 and a median price of $903,500, houses in Killcare (on the NSW central coast) return a rental yield of 15.48 per cent.
The sixth highest-yielding suburb, and the last of those yielding in excess of 15 per cent, is found in South Australia.
Houses in the coastal town of Carrickalinga recorded a rental yield of 15.1 per cent, based on a median price of $413,250 and an advertised rent of $1,200.
That means that neither the ACT, Western Australia nor Victoria feature a suburb with yields above 15 per cent.
However, Victoria comes the closest, with its highest yielding suburb, Ouyen, returning a yield of 10.86 per cent.
WA isn't far behind, with the mining town of Kambalda West returning 9.29 per cent.
The ACT has the lowest entry into the count: Phillip is its best performer, with a yield of just 6.06 per cent.
[Related: Rents growing at slowest pace on record]