Gross rental yields in Australia: Sydney, Melbourne and 6 other cities
The average gross rental yield in Australia stands at 4.98% (2024, Q3). Previously, in Q1, 2023 the average gross rental yield stood at 5.19%.
Prices are shown in US$.
- Sydney
- Melbourne
- Brisbane
- Perth
- Adelaide
- Darwin
- Gold Coast
- Canberra
| Last Updated: Sept 05, 2024 | |||
| SYDNEY - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Western Sydney | |||
| 1-Bedroom | $316,183 | $1,400 | 5.31% |
| 2-Bedroom | $470,911 | $1,601 | 4.08% |
| 3-Bedroom | $487,729 | $1,749 | 4.30% |
| Sydney | |||
| 1-Bedroom | $386,819 | $1,668 | 5.17% |
| 2-Bedroom | $491,093 | $2,018 | 4.93% |
| 3-Bedroom | $726,548 | $2,475 | 4.09% |
| NSW 2000 | |||
| Studio | $235,119 | $1,210 | 6.18% |
| 1-Bedroom | $437,274 | $1,803 | 4.95% |
| 2-Bedroom | $773,639 | $2,623 | 4.07% |
| 3-Bedroom | $1,136,914 | $5,650 | 5.96% |
| Sydney CBD | |||
| 1-Bedroom | $639,093 | $2,233 | 4.19% |
| 2-Bedroom | $1,210,914 | $3,565 | 3.53% |
| 3-Bedroom | $2,690,920 | $5,381 | 2.40% |
| Sydney avg. Rental Yields | 4.55% | ||
| MELBOURNE - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Melbourne City - Greater Region | |||
| Studio | $168,182 | $1,135 | 8.10% |
| 1-Bedroom | $255,637 | $1,426 | 6.69% |
| 2-Bedroom | $403,638 | $1,883 | 5.60% |
| 3-Bedroom | $1,009,095 | $3,094 | 3.68% |
| Inner East Melbourne | |||
| 1-Bedroom | $255,637 | $1,278 | 6.00% |
| 2-Bedroom | $403,638 | $1,641 | 4.88% |
| 3-Bedroom | $925,004 | $2,287 | 2.97% |
| DELETE | $953,666 | $2,034 | 2.56% |
| South-East Melbourne | |||
| 2-Bedroom | $302,728 | $942 | 3.73% |
| 3-Bedroom | $370,001 | $1,292 | 4.19% |
| Western Melbourne | |||
| 1-Bedroom | $255,637 | $1,076 | 5.05% |
| 2-Bedroom | $326,274 | $1,467 | 5.40% |
| 3-Bedroom | $440,638 | $1,681 | 4.58% |
| Eastern Melbourne | |||
| 1-Bedroom | $235,455 | $1,184 | 6.03% |
| 2-Bedroom | $376,728 | $1,480 | 4.71% |
| 3-Bedroom | $524,729 | $1,668 | 3.81% |
| Melbourne avg. Rental Yields | 5.03% | ||
| BRISBANE - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Inner City Region | |||
| 1-Bedroom | $302,728 | $1,560 | 6.18% |
| 2-Bedroom | $484,365 | $2,018 | 5.00% |
| 3-Bedroom | $1,244,550 | $3,229 | 3.11% |
| Northern Region | |||
| 1-Bedroom | $302,728 | $1,143 | 4.53% |
| 2-Bedroom | $437,274 | $1,615 | 4.43% |
| 3-Bedroom | $638,420 | $1,978 | 3.72% |
| Southern Region | |||
| 1-Bedroom | $312,819 | $1,116 | 4.28% |
| 2-Bedroom | $413,729 | $2,001 | 5.80% |
| 3-Bedroom | $507,911 | $2,287 | 5.40% |
| Western Region | |||
| 1-Bedroom | $319,546 | $1,042 | 3.91% |
| 2-Bedroom | $437,274 | $1,750 | 4.80% |
| 3-Bedroom | $874,549 | $1,883 | 2.58% |
| Brisbane avg. Rental Yields | 4.48% | ||
| PERTH - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| City Center | |||
| 1-Bedroom | $302,728 | $1,480 | 5.87% |
| 2-Bedroom | $382,783 | $1,816 | 5.69% |
| 3-Bedroom | $908,185 | $2,960 | 3.91% |
| Perth (all locations) | |||
| 1-Bedroom | $289,273 | $1,406 | 5.83% |
| 2-Bedroom | $370,001 | $1,695 | 5.50% |
| 3-Bedroom | $803,912 | $2,314 | 3.45% |
| Perth avg. Rental Yields | 4.93% | ||
| ADELAIDE - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| City Center | |||
| 1-Bedroom | $287,255 | $1,412 | 5.90% |
| 2-Bedroom | $470,911 | $1,991 | 5.07% |
| Adelaide (all locations) | |||
| 1-Bedroom | $262,364 | $1,130 | 5.17% |
| 2-Bedroom | $333,001 | $1,400 | 5.05% |
| 3-Bedroom | $652,211 | $1,950 | 3.59% |
| Adelaide avg. Rental Yields | 4.60% | ||
| DARWIN - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| City Center | |||
| 1-Bedroom | $215,273 | $1,500 | 8.36% |
| 2-Bedroom | $420,456 | $1,887 | 5.39% |
| 3-Bedroom | $490,420 | $2,018 | 4.94% |
| Darwin (all locations) | |||
| 1-Bedroom | $191,728 | $1,345 | 8.42% |
| 2-Bedroom | $255,637 | $1,480 | 6.95% |
| 3-Bedroom | $349,819 | $1,883 | 6.46% |
| Darwin avg. Rental Yields | 7.27% | ||
| GOLD COAST - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Gold Coast (all locations) | |||
| 1-Bedroom | $373,365 | $1,615 | 5.19% |
| 2-Bedroom | $571,820 | $2,018 | 4.23% |
| 3-Bedroom | $1,244,550 | $3,150 | 3.04% |
| Gold Coast avg. Rental Yields | 4.15% | ||
| CANBERRA - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Canberra (all locations) | |||
| 1-Bedroom | $289,273 | $1,292 | 5.36% |
| 2-Bedroom | $386,819 | $1,560 | 4.84% |
| 3-Bedroom | $555,002 | $2,018 | 4.36% |
| Canberra avg. Rental Yields | 4.85% | ||
| 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 and Realestate.com.au |
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Australia's Historic Rental Yield Data
Research Methodology: To conduct this research, we searched for studio, 1-bedroom, 2-bedroom, 3-bedroom, and 4-bedroom apartments in the largest cities of Australia. We utilized the Realestate website for both buying and renting prices to determine the average gross rental yields (Monthly Rent x 12 / Purchase Price).
For instance, if the monthly rent is $500 and the purchase price is $100,000, the calculation would be: $500 (Monthly Rent) x 12 / $100,000 (Purchase Price) = 6% (Gross Rental Yield).