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Landlords are having a bad run, new stats reveal

13 November 2015 Reporter

Rental yields have fallen across seven of Australia’s capital cities, while rental growth remains at record-low levels.

Darwin saw the biggest loss in yields, falling from 5.9 per cent in October 2014 to 5.4 per cent in October 2015, according to CoreLogic RP Data.

Sydney’s yields fell from 3.7 per cent to 3.3 per cent over the same period, while Melbourne yields fell from 3.3 per cent to 3 per cent.

Yields declined 0.1 per cent in four other capitals, with Hobart falling to 5.3 per cent, Brisbane 4.4 per cent, Canberra 4.1 per cent and Perth 4 per cent.

In Adelaide, yields remained unchanged at 4.2 per cent.

The combined capital yields fell from 3.8 per cent to 3.5 per cent.

The CoreLogic RP Data report also revealed that rents have increased in much of the country, although growth remains under the decade average and is at record-low levels.

Melbourne led the way, with house rents climbing 2.2 per cent and unit rents climbing 1.7 per cent, while Sydney made gains of 1.8 per cent for houses and 3.4 per cent for units.

Canberra rents increased 1.6 per cent for houses and 1.7 per cent for units, while Hobart rents increased 1.2 per cent for houses and 5.4 per cent for units.

Brisbane saw a 0.4 per cent gain for both houses and units, while Adelaide rents climbed 0.2 per cent for houses but fell 0.3 per cent for units.

Perth and Darwin went backwards in both sectors, with Perth rents falling 6.5 per cent for houses and 7.5 per cent for units, while Darwin rents fell 12.9 per cent for houses and 11.8 per cent for units.

Across the combined capital cities, house rents rose 0.4 per cent and unit rents rose 1.8 per cent.

[Related: Rental yields hit record lows in two capitals]

 

Landlords are having a bad run, new stats reveal
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