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Rental yields across all capital cities and property types have grown over the June quarter as rents reach new record highs. \u00a0<\/p>\n
Data from Domain showed that house and unit rental yields posted an overall increase across capital cities, up by 0.9% and 3.0%, respectively. \u00a0<\/p>\n
On an annual basis, house yields declined by 0.9% while unit yields increased by 6.3%.\u00a0<\/p>\n
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<\/p>\n Rental Yields as of the end of June 2022 quarter\u00a0<\/p>\n \n\t\t\t<\/td>\n
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<\/p>\n Capital City\u00a0<\/p>\n \n\t\t\t<\/td>\n <\/p>\n |
<\/p>\n House Yield (%)\u00a0<\/p>\n \n\t\t\t<\/td>\n <\/p>\n |
<\/p>\n Unit Yield (%)\u00a0<\/p>\n \n\t\t\t<\/td>\n
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<\/p>\n Sydney\u00a0<\/p>\n \n\t\t\t<\/td>\n <\/p>\n |
<\/p>\n 2.58\u00a0<\/p>\n \n\t\t\t<\/td>\n <\/p>\n |
<\/p>\n 3.59\u00a0<\/p>\n \n\t\t\t<\/td>\n
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<\/p>\n Melbourne\u00a0<\/p>\n \n\t\t\t<\/td>\n <\/p>\n |
<\/p>\n 2.85\u00a0<\/p>\n \n\t\t\t<\/td>\n <\/p>\n |
<\/p>\n 4.12\u00a0<\/p>\n \n\t\t\t<\/td>\n
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<\/p>\n Brisbane\u00a0<\/p>\n \n\t\t\t<\/td>\n <\/p>\n |
<\/p>\n 3.89\u00a0<\/p>\n \n\t\t\t<\/td>\n <\/p>\n |
<\/p>\n 5.23\u00a0<\/p>\n \n\t\t\t<\/td>\n
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<\/p>\n 4.17\u00a0<\/p>\n \n\t\t\t<\/td>\n <\/p>\n |
<\/p>\n 5.42\u00a0<\/p>\n \n\t\t\t<\/td>\n
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<\/p>\n 5.19\u00a0<\/p>\n \n\t\t\t<\/td>\n <\/p>\n |
<\/p>\n 5.97\u00a0<\/p>\n \n\t\t\t<\/td>\n
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<\/p>\n Hobart\u00a0<\/p>\n \n\t\t\t<\/td>\n <\/p>\n |
<\/p>\n 3.85\u00a0<\/p>\n \n\t\t\t<\/td>\n <\/p>\n |
<\/p>\n 3.68\u00a0<\/p>\n \n\t\t\t<\/td>\n
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<\/p>\n Canberra\u00a0<\/p>\n \n\t\t\t<\/td>\n <\/p>\n |
<\/p>\n 3.49\u00a0<\/p>\n \n\t\t\t<\/td>\n <\/p>\n |
<\/p>\n 5.49\u00a0<\/p>\n \n\t\t\t<\/td>\n
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<\/p>\n Darwin\u00a0<\/p>\n \n\t\t\t<\/td>\n <\/p>\n |
<\/p>\n 5.81\u00a0<\/p>\n \n\t\t\t<\/td>\n <\/p>\n |
<\/p>\n 6.96\u00a0<\/p>\n \n\t\t\t<\/td>\n
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<\/p>\n Combined Capitals\u00a0<\/p>\n \n\t\t\t<\/td>\n <\/p>\n |
<\/p>\n 3.20\u00a0<\/p>\n \n\t\t\t<\/td>\n <\/p>\n |
<\/p>\n 4.03\u00a0<\/p>\n \n\t\t\t<\/td>\n
Rising rents reach record high\u00a0<\/p>\n Rents across capital cities and property types increased over the quarter and annually except for Darwin, which posted no quarterly movement in house rents and a 2% decline in unit rents. \u00a0<\/p>\n \u201cThe numbers that we\u2019re seeing are a result of a combination of high purchasing prices locking people into the rental market longer, increased home loan costs being passed onto tenants, weaker investment activity throughout 2019-20, fewer building completions, greater household formation, investors cashing in on the recent price boom, and rental demand being boosted by the return of international students and overseas migration,\u201d Dr Powell said. \u00a0<\/p>\n While the rental market remains competitive, Dr Powell said the increased investment activity has helped ease some pressure on tenants, with national vacancy rates holding for the fourth month and the choice of rentals inching higher over June.<\/p>\n \u201cThis, together with new first home buyer government incentives such as \u2018Help to Buy\u2019, has the potential to assist the transition of more tenants becoming homeowners, easing some of the demand pressures that the rental market is currently facing,\u201d she said.\u00a0<\/p>\n
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