Tasmania has always struggled to retain upwardly-mobile residents leaving for the mainland. Apart from a brief period in 2021 where it was the capital growth darling, with meagre population growth and a pretty tepid market of late, some investors probably dismiss Tasmanian property prima facie.
What can't be divined from the numbers though is that Tasmania is undeniably cool. About half of the island is given over to national parks, there are Tasmanian devils running around the place, and then there's the Aurora Australis - it's no wonder Tasmania is one of the fastest growing tourist destinations in the world.
If you're intrigued by the prospect of buying a house or a unit in Australia's most unique state, these suburbs are where you might find the strongest rental yields.
Tasmania rental yields in 2025
As of January 2025 these were the average rental yields in Tasmania:
|
Median price |
Median weekly rent |
Rental yield |
|
|---|---|---|---|
|
Houses (Hobart) |
$695,000 |
$550 |
4.1% |
|
Units (Hobart) |
$548,750 |
$475 |
4.7% |
|
Houses (Rest of Tas) |
$549,000 |
$450 |
4.4% |
|
Units (Rest of Tas) |
$430,000 |
$390 |
4.7% |
Source: Cotality (formerly CoreLogic). Data reported to the period ending January 2025. Median values account for sales transactions over three months.
At 4.1%, Hobart has a higher average yield for houses than Sydney, Melbourne, Brisbane, Adelaide and Canberra, but is behind Darwin and Perth. For units, Hobart is slightly less impressive, level with Melbourne and above only Sydney.
Outside of Hobart, houses have an average rental yield of 4.4% while units are at 4.7%. That's lower than the respective regions of every other state and territory except for NSW.
Top rental yields in Tasmania
For houses, the highest rental yields in Tasmania are to be found on the west coast. Queenstown has an average yield of 9%, while Zeehan is in second at 8.3% - more than two full percentage points above third in the list. Units have no similar standout, but in top spot is East Devonport (6.1% average yield).
Houses
| Rank | Suburb (Postcode) | LGA | Median Price | Median Rent | Rental Yield |
|---|---|---|---|---|---|
| 1st | Queenstown (7467) | West Coast | $174,000 | $300 | 9.0% |
| 2nd | Zeehan (7469) | West Coast | $195,000 | $310 | 8.3% |
| 3rd | Mayfield (7248) | Launceston | $339,000 | $400 | 6.1% |
| 4th | Gagebrook (7030) | Brighton | $385,000 | $440 | 5.9% |
| 5th | Acton (7320) | Burnie | $355,000 | $395 | 5.8% |
| 6th | Ravenswood (7250) | Launceston | $360,000 | $400 | 5.8% |
| 7th | George Town (7253) | George Town | $350,000 | $380 | 5.6% |
| 8th | East Devonport (7310) | Devonport | $390,000 | $420 | 5.6% |
| 9th | Bridgewater (7030) | Brighton | $420,000 | $445 | 5.5% |
| 10th | Clarendon Vale (7019) | Clarence | $435,000 | $460 | 5.5% |
| 11th | Chigwell (7011) | Glenorchy | $466,500 | $478 | 5.3% |
| 12th | Invermay (7248) | Launceston | $450,000 | $460 | 5.3% |
| 13th | Shorewell Park (7320) | Burnie | $348,500 | $355 | 5.3% |
| 14th | Mowbray (7248) | Launceston | $445,000 | $450 | 5.3% |
| 15th | Risdon Vale (7016) | Clarence | $459,000 | $460 | 5.2% |
| 16th | Smithton (7330) | Circular Head | $380,000 | $380 | 5.2% |
| 17th | Scottsdale (7260) | Dorset | $395,000 | $388 | 5.1% |
| 18th | Goodwood (7010) | Glenorchy | $512,500 | $500 | 5.1% |
| 19th | Claremont (7011) | Glenorchy | $512,500 | $500 | 5.1% |
| 20th | Upper Burnie (7320) | Burnie | $422,000 | $410 | 5.0% |
| 21st | New Norfolk (7140) | Derwent Valley | $465,000 | $450 | 5.0% |
| 22nd | Rokeby (7019) | Clarence | $529,000 | $510 | 5.0% |
| 23rd | Berriedale (7011) | Glenorchy | $517,500 | $498 | 5.0% |
| 24th | Mornington (7018) | Clarence | $555,000 | $530 | 5.0% |
| 25th | Hillcrest (7320) | Burnie | $388,000 | $370 | 5.0% |
Source: Cotality (formerly CoreLogic). Data reported to the period ending January 2025. Median values account for sales transactions over 12 months.
Queenstown and Zeehan are the clear standouts on this list. Neither have spectacularly high rents - both are below the median for regional Tasmania - but this is far offset by the extremely low property prices. Houses in Queenstown and Zeehan are well below 50% of the norm for regional TAS.
The west coast of Tasmania is pretty sparsely populated, a ‘region of world-heritage listed wilderness’ to quote the Discover Tasmania website. It’s a fair way to the major urban centres of Hobart and Launceston, which might explain why property is so cheap. The comparatively strong rents might be a by-product of tourism, as well as the various mines in western Tasmania (miners come and go depending on projects so prefer to rent rather than buy).
Units
| Rank | Suburb (Postcode) | LGA | Median Price | Median Rent | Rental Yield |
|---|---|---|---|---|---|
| 1st | East Devonport (7310) | Devonport | $300,000 | $350 | 6.1% |
| 2nd | Newnham (7248) | Launceston | $345,000 | $380 | 5.7% |
| 3rd | Old Beach (7017) | Brighton | $460,000 | $500 | 5.7% |
| 4th | Newstead (7250) | Launceston | $389,500 | $420 | 5.6% |
| 5th | New Norfolk (7140) | Derwent Valley | $367,500 | $395 | 5.6% |
| 6th | Claremont (7011) | Glenorchy | $427,000 | $450 | 5.5% |
| 7th | Rosetta (7010) | Glenorchy | $438,500 | $455 | 5.4% |
| 8th | Burnie (7320) | Burnie | $280,000 | $285 | 5.3% |
| 9th | Glenorchy (7010) | Glenorchy | $443,000 | $450 | 5.3% |
| 10th | Mowbray (7248) | Launceston | $420,000 | $410 | 5.1% |
| 11th | Legana (7277) | West Tamar | $483,750 | $470 | 5.1% |
| 12th | West Launceston (7250) | Launceston | $422,500 | $410 | 5.0% |
| 13th | Lutana (7009) | Glenorchy | $441,250 | $428 | 5.0% |
| 14th | Moonah (7009) | Glenorchy | $465,500 | $450 | 5.0% |
| 15th | Latrobe (7307) | Latrobe (Tas.) | $445,000 | $430 | 5.0% |
| 16th | Prospect Vale (7250) | Meander Valley | $435,000 | $420 | 5.0% |
| 17th | Brighton (7030) | Brighton | $467,500 | $450 | 5.0% |
| 18th | East Launceston (7250) | Launceston | $442,500 | $420 | 4.9% |
| 19th | Youngtown (7249) | Launceston | $455,000 | $430 | 4.9% |
| 20th | Sorell (7172) | Sorell | $466,500 | $440 | 4.9% |
| 21st | Kings Meadows (7249) | Launceston | $482,500 | $450 | 4.8% |
| 22nd | Longford (7301) | Northern Midlands | $470,000 | $435 | 4.8% |
| 23rd | Rokeby (7019) | Clarence | $570,000 | $525 | 4.8% |
| 24th | Shearwater (7307) | Latrobe (Tas.) | $466,000 | $425 | 4.7% |
| 25th | South Hobart (7004) | Hobart | $542,500 | $490 | 4.7% |
Source: Cotality (formerly CoreLogic). Data reported to the period ending January 2025. Median values account for sales transactions over 12 months.
Most of these top yields for units are in and around Hobart, Launceston and Devonport. The rest of Tasmania is pretty sparsely populated so there aren’t too many high density areas - most people live in houses.
Top rental yields in Hobart
The Hobart suburbs with the top rental yields for both houses and units were in Brighton. Herdsmans Cove (6.2%) had the highest yield for houses, Old Beach (5.7%) for units.
Houses
| Rank | Suburb (Postcode) | LGA | Median Price | Median Rent | Rental Yield |
|---|---|---|---|---|---|
| 1st | Herdsmans Cove (7030) | Brighton | $380,000 | $450 | 6.2% |
| 2nd | Gagebrook (7030) | Brighton | $385,000 | $440 | 5.9% |
| 3rd | Bridgewater (7030) | Brighton | $420,000 | $445 | 5.5% |
| 4th | Clarendon Vale (7019) | Clarence | $435,000 | $460 | 5.5% |
| 5th | Chigwell (7011) | Glenorchy | $466,500 | $478 | 5.3% |
| 6th | Risdon Vale (7016) | Clarence | $459,000 | $460 | 5.2% |
| 7th | Goodwood (7010) | Glenorchy | $512,500 | $500 | 5.1% |
| 8th | Claremont (7011) | Glenorchy | $512,500 | $500 | 5.1% |
| 9th | New Norfolk (7140) | Derwent Valley | $465,000 | $450 | 5.0% |
| 10th | Rokeby (7019) | Clarence | $529,000 | $510 | 5.0% |
| 11th | Berriedale (7011) | Glenorchy | $517,500 | $498 | 5.0% |
| 12th | Mornington (7018) | Clarence | $555,000 | $530 | 5.0% |
| 13th | Primrose Sands (7173) | Sorell | $475,000 | $450 | 4.9% |
| 14th | Austins Ferry (7011) | Glenorchy | $600,000 | $560 | 4.9% |
| 15th | Glenorchy (7010) | Glenorchy | $562,000 | $520 | 4.8% |
| 16th | Warrane (7018) | Clarence | $552,000 | $510 | 4.8% |
| 17th | Lutana (7009) | Glenorchy | $612,750 | $545 | 4.6% |
| 18th | Midway Point (7171) | Sorell | $598,000 | $530 | 4.6% |
| 19th | Rosetta (7010) | Glenorchy | $623,000 | $550 | 4.6% |
| 20th | Montrose (7010) | Glenorchy | $594,500 | $520 | 4.5% |
| 21st | Lauderdale (7021) | Clarence | $750,000 | $650 | 4.5% |
| 22nd | Brighton (7030) | Brighton | $572,500 | $490 | 4.5% |
| 23rd | Oakdowns (7019) | Clarence | $653,500 | $555 | 4.4% |
| 24th | West Moonah (7009) | Glenorchy | $615,000 | $520 | 4.4% |
| 25th | Carlton (7173) | Sorell | $599,900 | $500 | 4.3% |
Source: Cotality (formerly CoreLogic). Data reported to the period ending January 2025. Median values account for sales transactions over 12 months.
Units
| Rank | Suburb (Postcode) | LGA | Median Price | Median Rent | Rental Yield |
|---|---|---|---|---|---|
| 1st | Old Beach (7017) | Brighton | $460,000 | $500 | 5.7% |
| 2nd | New Norfolk (7140) | Derwent Valley | $367,500 | $395 | 5.6% |
| 3rd | Claremont (7011) | Glenorchy | $427,000 | $450 | 5.5% |
| 4th | Rosetta (7010) | Glenorchy | $438,500 | $455 | 5.4% |
| 5th | Glenorchy (7010) | Glenorchy | $443,000 | $450 | 5.3% |
| 6th | Lutana (7009) | Glenorchy | $441,250 | $428 | 5.0% |
| 7th | Moonah (7009) | Glenorchy | $465,500 | $450 | 5.0% |
| 8th | Brighton (7030) | Brighton | $467,500 | $450 | 5.0% |
| 9th | Sorell (7172) | Sorell | $466,500 | $440 | 4.9% |
| 10th | Rokeby (7019) | Clarence | $570,000 | $525 | 4.8% |
| 11th | South Hobart (7004) | Hobart | $542,500 | $490 | 4.7% |
| 12th | New Town (7008) | Hobart | $499,000 | $450 | 4.7% |
| 13th | Mount Stuart (7000) | Hobart | $507,500 | $450 | 4.6% |
| 14th | Oakdowns (7019) | Clarence | $580,750 | $500 | 4.5% |
| 15th | Kingston (7050) | Kingborough | $580,000 | $498 | 4.5% |
| 16th | Lindisfarne (7015) | Clarence | $543,253.50 | $465 | 4.5% |
| 17th | Dynnyrne (7005) | Hobart | $545,000 | $463 | 4.4% |
| 18th | West Moonah (7009) | Glenorchy | $484,000 | $410 | 4.4% |
| 19th | Blackmans Bay (7052) | Kingborough | $593,000 | $495 | 4.3% |
| 20th | Bellerive (7018) | Clarence | $565,000 | $470 | 4.3% |
| 21st | Lenah Valley (7008) | Hobart | $558,999.50 | $450 | 4.2% |
| 22nd | Mount Nelson (7007) | Hobart | $526,500 | $420 | 4.1% |
| 23rd | Howrah (7018) | Clarence | $596,750 | $465 | 4.1% |
| 24th | Sandy Bay (7005) | Hobart | $652,500 | $500 | 4.0% |
| 25th | Hobart (7000) | Hobart | $810,000 | $563 | 3.6% |
Source: Cotality (formerly CoreLogic). Data reported to the period ending January 2025. Median values account for sales transactions over 12 months.
Looking to buy an investment property? Here are some of the top investment loans available at the moment
| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Additional Repayments | Split Loan Option | Tags | Row Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5.94% p.a. | 6.28% p.a. | $2,978 | Principal & Interest | Variable | $0 | $530 | 90% |
| Disclosure | ||||||||||||
5.99% p.a. | 6.01% p.a. | $2,995 | Principal & Interest | Variable | $0 | $250 | 60% |
| Promoted | Disclosure | |||||||||||
6.04% p.a. | 5.95% p.a. | $3,011 | Principal & Interest | Variable | $0 | $0 | 80% |
| Promoted | Disclosure | |||||||||||
6.09% p.a. | 6.13% p.a. | $3,027 | Principal & Interest | Variable | $0 | $530 | 90% |
| Promoted | Disclosure | |||||||||||
5.99% p.a. | 6.01% p.a. | $2,995 | Principal & Interest | Variable | $0 | $350 | 60% |
| Disclosure |
First published on December 2024
Picture by Patrick McGregor on Unsplash
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