Australia’s Top 10 Most Expensive Suburbs For Rental Properties

Australia’s Top 10 Most Expensive Suburbs For Rental Properties

Think your rent is too high? Be grateful you’re not trying to find a place in Perth. These are the 10 most expensive suburbs in Australia right now.

Picture: Mosman Council

This list, assembled by RP Data, shows that the truly stupid rents are being paid in Sydney and Perth. This table shows the median weekly rent and the gross rental yield percentage in the year to March 2014.

Suburb Median weekly rent Rental yield %
Port Hedland, Pilbara, WA $1,775 9.3%
Mosman, Sydney, NSW $1,500 3.2%
Newman, East Pilbara, Perth, WA $1,500 9.9%
South Hedland, Port Hedland, Pibara, WA $1,350 8.8%
Woollahra, Sydney, NSW $1,300 n/a
Baynton, Roebourne, Pilbara, WA $1,200 8.2%
Nickol, Roebourne, Pilbara, WA $1,100 8.6%
Seaforth, Manly, Sydney, NSW $1,095 3.5%
Roseville, Ku-ring-gai, Sydney, NSW $1,050 3.2%
St Ives, Ku-ring-gai, Sydney, NSW $1,000 n/a

Here’s the same information on a map:

Since these are medians, some people are paying much, much more. WA also looks like a better choice if you’re a property owner.

For more useful property data, check out the 20 suburbs where property markets are growing the fastest

[via Business Insider]

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  • Newman, East Pilbara, WA is no where near Perth.
    As for property choices in WA, those locations are all in horrible little isolated mining areas where property owners are gouging the mining companies. So to buy or build a place you’re probably going to be competing with miners, and if you want a good return over the life of the property you’re completely at the whim of the mines in the area: if commodity prices drop for a certain mineral and the mine shuts down (which happens a lot), then you may never make your money back.
    So there’s a bit more risk on those investments. Don’t be swayed by high rent prices alone!

    • I agree with your comment, but I thought the reason rents were so high was also exacerbated due to the zoning regulations of those towns in the pilbara not actually allowing new residential building. So the old houses that were already there shot up in value as cheaper new homes couldn’t be built to keep up with the new demand.

      • You’re probably right in that Gus- The reason for the zoning is probably again related to the mines… and councils not wanting to pay for all the new roads, sewage, powerlines etc and all the extra services they’d need to provide, install, and maintain, especially if the mine moves on.

  • the truly stupid rents are being paid in Sydney and Perth None of those WA locations are remotely near Perth.

  • This is up to 10x more expensive than what we paid for rent in rural Victoria. A 3 bedroom house with more space than we ever needed, was $230 a fortnight. And I balked at that because it had gone up $20 since we moved in!

    It really is location, location, location. And frankly speaking, I’d rather live 2 hours from Melbourne than 5 minutes away.

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