Rental yields dive in parts of Australia
Rental markets in parts of Australia witnessed volatile times recently with yields taking a dive in some areas as capital gains outpaced rental growth according to rpdata.com’s research analyst Cameron Kusher.
Mr Kusher confirmed that one of the biggest surprise falls in rents was in the resource-rich mining town of Collinsville in North Queensland where housing yields fell by 2.4 per cent from a yield of 9.1 per cent last year to now record 6.7 per cent.
Garden Suburb in Newcastle followed with a fall in its yield of 2.3 per cent; an additional 18 suburbs also experienced similar falls (refer house graph).
For units, Cromer in NSW had the greatest decline with a fall of 2.5 per cent, followed by South West Rocks which fell by 2.3 per cent fall and a fall of 2.1 per cent for the inner city northern Sydney suburb of Greenwich; 17 other areas also experienced a drop.