Rental returns on apartments in Australia are low to moderate

  Last Updated: July 13, 2023
MELBOURNE - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Melbourne City - Greater Region  
Studio $168,294 $1,175 8.38%
1-Bedroom $269,972 $1,346 5.98%
2-Bedroom $431,253 $1,879 5.23%
3-Bedroom $911,593 $3,085 4.06%
Inner East Melbourne      
Studio $147,257 $877 7.15%
1-Bedroom $266,466 $982 4.42%
2-Bedroom $462,809 $1,543 4.00%
3-Bedroom $953,666 $2,034 2.56%
South-East Melbourne  
2-Bedroom $301,509 $785 3.12%
3-Bedroom $382,168 $1,101 3.46%
Western Melbourne  
1-Bedroom $255,947 $757 3.55%
2-Bedroom $308,539 $1,150 4.47%
3-Bedroom $469,821 $1,220 3.12%
Eastern Melbourne  
1-Bedroom $245,429 $1,010 4.94%
2-Bedroom $366,390 $1,192 3.90%
3-Bedroom $490,858 $1,402 3.43%
Melbourne avg. Rental Yields 4.49%
BRISBANE - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Inner City Region  
1-Bedroom $245,429 $1,402 6.85%
2-Bedroom $434,760 $1,879 5.19%
3-Bedroom $1,085,146 $3,085 3.41%
Northern Region  
1-Bedroom $262,959 $982 4.48%
2-Bedroom $328,875 $1,402 5.12%
3-Bedroom $487,351 $1,683 4.14%
Southern Region  
1-Bedroom $231,404 $954 4.95%
2-Bedroom $301,527 $1,346 5.36%
3-Bedroom $378,662 $1,402 4.44%
Western Region  
1-Bedroom $245,429 $954 4.66%
2-Bedroom $315,551 $1,515 5.76%
3-Bedroom $518,907 $1,823 4.22%
Brisbane avg. Rental Yields 4.88%
PERTH - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
City Center  
1-Bedroom $241,923 $1,255 6.23%
2-Bedroom $347,106 $1,613 5.58%
3-Bedroom $693,512 $2,805 4.85%
Perth (all locations)  
1-Bedroom $227,898 $1,178 6.20%
2-Bedroom $287,502 $1,459 6.09%
3-Bedroom $487,351 $2,412 5.94%
Perth avg. Rental Yields 6.08%
SYDNEY - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Western Sydney  
1-Bedroom $307,137 $1,122 4.38%
2-Bedroom $375,155 $1,262 4.04%
3-Bedroom $462,809 $1,585 4.11%
Sydney  
1-Bedroom $385,674 $1,641 5.11%
2-Bedroom $504,882 $1,767 4.20%
3-Bedroom $627,596 $2,244 4.29%
NSW 2000  
Studio $245,429 $1,262 6.17%
1-Bedroom $420,735 $1,851 5.28%
2-Bedroom $711,743 $2,384 4.02%
3-Bedroom $1,051,838 $5,610 6.40%
Sydney CBD  
1-Bedroom $694,213 $2,104 3.64%
2-Bedroom $1,192,083 $3,436 3.46%
3-Bedroom $1,963,430 $5,610 3.43%
Sydney avg. Rental Yields 4.50%
ADELAIDE - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
City Center  
1-Bedroom $260,505 $1,290 5.94%
2-Bedroom $385,674 $1,851 5.76%
Adelaide (all locations)  
1-Bedroom $182,319 $1,115 7.34%
2-Bedroom $276,984 $1,206 5.22%
3-Bedroom $550,462 $1,543 3.36%
Adelaide avg. Rental Yields 5.31%
DARWIN - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
City Center  
1-Bedroom $252,441 $1,402 6.66%
2-Bedroom $322,564 $1,963 7.30%
3-Bedroom $499,623 $2,314 5.56%
Darwin (all locations)  
1-Bedroom $192,837 $1,164 7.24%
2-Bedroom $248,935 $1,473 7.10%
3-Bedroom $349,911 $1,879 6.44%
Darwin avg. Rental Yields 6.93%
GOLD COAST - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Gold Coast (all locations)  
1-Bedroom $322,213 $1,459 5.43%
2-Bedroom $525,218 $1,963 4.48%
3-Bedroom $999,246 $2,805 3.37%
Gold Coast avg. Rental Yields 4.43%
CANBERRA - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Canberra (all locations)  
1-Bedroom $298,021 $1,346 5.42%
2-Bedroom $406,009 $1,683 4.97%
3-Bedroom $595,340 $2,146 4.33%
Canberra avg. Rental Yields 4.91%
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower.
Source: Global Property Guide