Via CoreLogic today:
Rental yields slipped to a new record low across Australia in August. Nationally, the gross yield on a dwelling reduced to 3.62% in August, down from 3.87% in August last year. “Record low yields are largely a capital city phenomenon, with yields across the combined regional areas of the country tracking 165 basis points higher than the combined capital city yield,” Mr Lawless said.
While there was a reduction in gross rental yields across each of the capital cities over the past twelve months, only Melbourne (2.9%) and Sydney (3.0%) are recording rental yields at record lows. To provide some context about why yields are so low in these cities, dwelling values in both cities are up approximately 13% over the past twelve months while rents only increased by 4.7% across Melbourne and 4.0% across Sydney.
