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Some capital city suburbs have recorded such large drops in rental yields over the past year that returns are now below two per cent.
According to CoreLogic RP Data stats for March, five of the top 10 suburbs with the lowest gross rental yields were based in Sydney, four were in Melbourne and one was in Canberra.
Kirribilli in Sydney topped the list with a gross rental yield of 1.55 per cent. This was down from 4.02 per cent in March 2014.
Deepdene in Melbourne was next, recording a gross rental yield of 1.63 per cent. No data was available for last year.
Potts Point in Sydney produced a gross rental yield of 1.64 per cent, which was down from 4.95 per cent.
Portsea in Melbourne recorded a gross rental yield of 1.80 per cent, down from 2.25 per cent the previous year.
Also in Melbourne, the suburb of Eaglemont produced a gross rental yield of 1.88 per cent, which was down from 2.48 per cent.
Tennyson Point in Sydney was next, recording a gross rental yield of 1.89 per cent. This was down from 2.37 in March 2014.
Toorak in Melbourne also produced gross rental yield of 1.89 per cent, which was a decrease from 2.03 per cent.
Both Burwood and Rossmore in Sydney recorded gross rental yields of 1.90 per cent.
For Burwood it was a decrease from 2.29 the previous year, while no data was available for Rossmore.
Rounding out the top 10, the Canberra suburb of Hughes recorded a 1.98 per cent gross rental yield, which was down from 3.74 per cent the previous year.
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