New data reveals record yields in Australian rental markets in 2022
The best performing cities for investors may not be where you think
2 min
The Australian rental market achieved record growth over 2022 as yields go from strength to strength, CoreLogic reports.
While CoreLogic’s Quarterly Rental Review for Q4 2022 showed a slowdown in the pace of growth for the second consecutive month in December last year, rentals experienced a record 10.2 percent increase over the year.
The December results are just the latest markers of a rental yield upswing, which has seen values rise 22.2 percent since September 2020, the largest upswing on record. It has taken the national median weekly rent valuation from $430 to $519.
Author of the report and CoreLogic head of research, Eliza Owen, said December figures revealed a 2 percent increase, down from a 2.3 percent increase in the September quarter, coinciding with a lift in the rental vacancy rate to 1.17 percent.
“The decline in quarterly rental growth rates observed in the December quarter was led by the capital cities where rents continued to increase but at a slightly slower rate than they have done in September and June quarters,” she said.
In the capital cities, Canberra still holds the top position as Australia’s most expensive city to rent, with a median weekly rental value of $681, edging out Sydney at $679 per week, followed by Darwin at $579 per week.
At the other end of the scale, Melbourne maintains the title of Australia’s most affordable rental capital at $507 per week, followed by Adelaide on $518, Hobart on $552, Perth at $553 and Brisbane at $588.
Ms Owen points to shifts in migration patterns in recent years to explain the disparity between the country’s largest capitals and Canberra, which reveal a weakening trend for new arrivals in Canberra compared with Sydney and Melbourne.
“Unlike Canberra, high levels of net overseas migration to NSW and Victoria has vastly offset negative net internal migration flows in the year to June 2022,” Ms Owen said. “Prior to the pandemic, Sydney and Melbourne alone accounted for around two thirds of net overseas arrivals, with high density city centres being among the most popular destinations. This has likely contributed to unprecedented annual growth in unit rents over 2022, which was 15.5 percent across Sydney and 14.2 percent in Melbourne.”
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
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Former Aussie Rules player Jeff Chapman’s dream beach house, which has had its praises sung by The Independent in the UK, is back on the market with a revised – and more competitive – price guide.
The contemporary pavilion-style residence Alinghi, created by celebrated architect James Grose, was voted one of the top five beach houses in the world by the British newspaper and has been operating as a luxury holiday rental earning up to $7000 a week.
The one-time Melbourne forward and founder of Bennelong Funds Management, and his wife Carena Shankar, listed the five-bedroom getaway back in mid 2024 with hopes of about $8 million. The prestige property is now back with new agent Pauline Karatau of Ray White New Farm and the amended guide now sits at $6.5 million.
As part of the private 5ha Rocky Point estate, at the southern end of the Great Barrier Reef overlooking Honeymoon Bay, the glamorous holiday home shares not only a private beach with just four other neighbours, but also a 30m saltwater pool, a full-size tennis court, a beach cabana with barbecue facilities and a full-time live-in caretaker on site.
Alinghi seemingly floats against the cliffs of North Queensland’s Capricorn Coast consisting of two pavilions and shallow reflections pools for ultimate serenity. Residence number 5 is home to a two-storey main pavilion with large living spaces spilling onto semi-enclosed areas framing enviable ocean views. Upstairs there are four bedrooms, including two with ensuites. The second pavilion is a private retreat housing the main bedroom suite with an additional study or wellness space.
Crafted by Grose to leave minimal impact on its natural environment, the house features external materials sourced locally including rich cedar, plus glass and Travertine stone specifically chosen to blend and weather with the landscape over time.
The low maintenance property is also relatively self sufficient thanks to water tanks collecting the region’s abundant rainfall. Despite it’s northern Queensland address air-conditioning is an after-thought due to the clever cross-ventilation design principles and deliberate orientation capturing ocean breezes that flow through the large footprint.
Alinghi’s external lightning has also been carefully designed to be low voltage with minimum impact upon the local wildlife including wallabies, echidnas, goannas, turtles and even a diverse range of native birds. From the private terraces throughout winter, homeowners can also track the migratory whales.
Alinghi is a 90-minute drive away from Agnes Waters and its sister town of 1770 (also known as Seventeen Seventy). It is approximately 120kms from Bundaberg, which is home to a well-serviced domestic airport.
Alinghi is listed for sale with a price guide of $6.5 million via Ray White New Farm agent Pauline Karatau on 0418 733 773.
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
