Victorian suburbs with high rental yields

According to the Real Estate Institute of Victoria (REIV), the suburbs located in and around the CBD have the highest rental returns, with some regional hotspots recording surprisingly high returns.

The one-bedroom apartment market in Melbourne has the highest rental yield in the state. It is the most profitable for investors, recording a rental yield of 6.7%, according to the president of REIV, Robyn Waters.

"Since you only need to spend $ 347,500 to buy a one bedroom apartment in the city, it is an excellent market for people who wish to embark on real estate investments and have the assurance of a neat return of around $ 450 a week, she said.

According to Waters, the rental yield of some regional cities is also high.

The three-bedroom homes in Moe have a rental yield of 6.6 per cent, while the same dwellings in Stawell have a yield of 6.4 per cent, she said.

According to Waters, the appeal to CBD workers, higher education students and their families, as well as to retirees, has contributed to the positive results recorded in inner-city neighborhoods. Melbourne, Docklands, Southbank and South Yarra.

Low vacancy rates in rental housing probably contributed to the good performance of cities in the region, she said.

Here are the Victorian suburbs with the highest rental yields, according to REIV:

Suburbs

Type of housing

Region

Gross rental yield

Median Rent Weekly (June 2019)

Median Price

(June 2019)

Melbourne

1 bedroom

Underground

6.7%

$ 450

$ 347,500

Moe

House with 3 bedrooms

Regional

6.6%

$ 255

$ 200,000

Stawell

House with 3 bedrooms

Regional

6.4%

$ 240

$ 193,750

Southbank

1 bedroom

Underground

6.2%

$ 445

$ 373,000

Melbourne

3 bedroom unit

Underground

6.2%

$ 950

$ 801,000

Shepparton

House with 3 bedrooms

Regional

6.2%

$ 300

$ 251,000

Wodonga

House with 3 bedrooms

Regional

6.0%

$ 325

$ 283,500

Mildura

House with 3 bedrooms

Regional

5.7%

$ 320

$ 289,999

Morwell

House with 3 bedrooms

Regional

5.7%

$ 200

$ 181,000

Churchill

House with 3 bedrooms

Regional

5.6%

$ 200

$ 185,000

Sale

House with 3 bedrooms

Regional

5.6%

$ 290

$ 270,000

Traralgon

House with 3 bedrooms

Regional

5.6%

$ 300

$ 280,000

South Yarra

1 bedroom

Underground

5.5%

$ 400

$ 377,500

Warrnambool

House with 3 bedrooms

Regional

5.5%

$ 350

$ 329,500

Docklands

2 bedroom unit

Underground

5.4%

$ 650

$ 630,000

Melbourne

2 bedroom unit

Underground

5.4%

$ 600

$ 575,000

Wangaratta

House with 3 bedrooms

Regional

5.4%

$ 310

$ 299,000

Prahran

1 bedroom

Underground

5.3%

$ 390

$ 385,000

Richmond

1 bedroom

Underground

5.3%

$ 400

$ 393,500

Southbank

2 bedroom unit

Underground

5.2%

$ 580

$ 575,000

Source: REIV

Top suburbs:

fresh water

,

new farm

,

West Wodonga

,

Darlington

,

Campsie

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