If you’re on the hunt for an investment property, there are worse places to look than Queensland. Along with Adelaide and Perth, Brisbane property values have been among the fastest growing in the nation over the past couple of years, with Regional Queensland also a strong performer.
The capital growth history is well documented, but information on rental yields tends to be less readily available. Most investors tend to focus on the growth prospects after all. However, a strong rental yield might give you a positively geared property, which could mean a few thousand dollars each year in passive income. These are the Queensland suburbs and towns producing some of the state’s strongest rental yields.
Queensland rental yields in 2024
As of August '24, these were the median sale prices and asking rents for houses and units in Brisbane and the rest of Queensland.
| Median price | Median rent | Median rental yield | |
|---|---|---|---|
| Houses (Brisbane) | $870,000 | $610 | 3.7% |
| Units (Brisbane) | $625,000 | $575 | 5.1% |
| Houses (Rest of Queensland) | $645,000 | $600 | 5.0% |
| Units (Rest of Queensland) | $620,000 | $550 | 4.8% |
Source: CoreLogic. Data reported to the period ending August 2024. Median values account for sales transactions over three months.
Compared to the other most populous states, Queensland rental yields tend to be pretty strong. In both Brisbane and Regional Queensland, yields are stronger than in New South Wales and Victoria across the board. However, both Western Australia and South Australia have Queensland covered across the board as it stands.
This is likely a function of the respective prices. Higher property values tend to translate to lower rental yields since it’s calculated on the ratio of rents to property prices.
Read more: Highest rental yields in Australia
Highest rental yields in Queensland
Collinsville in the Whitsundays had the highest rental yield for houses at 12.3%. With an average price of $295,000 and average weekly rent of $700, Moranbah took the crown for units, also with a 12.3% yield.
Houses
| Rank | Suburb (Postcode) | LGA | Median Property Price | Median Weekly Asking Rent | Average Rental Yield |
|---|---|---|---|---|---|
| 1st | Collinsville (4804) | Whitsunday | $161,250 | $380 | 12.3% |
| 2nd | Pioneer (4825) | Mount Isa | $187,500 | $400 | 11.1% |
| 3rd | Wandoan (4419) | Western Downs | $175,000 | $370 | 11.0% |
| 4th | Parkside (4825) | Mount Isa | $221,000 | $450 | 10.6% |
| 5th | Moranbah (4744) | Isaac | $349,000 | $650 | 9.7% |
| 6th | Dysart (4745) | Isaac | $217,500 | $395 | 9.4% |
| 7th | Sunset (4825) | Mount Isa | $256,500 | $465 | 9.4% |
| 8th | Mornington (4825) | Mount Isa | $265,000 | $480 | 9.4% |
| 9th | Happy Valley (4825) | Mount Isa | $265,000 | $470 | 9.2% |
| 10th | Moura (4718) | Banana | $215,000 | $378 | 9.1% |
| 11th | Cloncurry (4824) | Cloncurry | $225,000 | $380 | 8.8% |
| 12th | Blackwater (4717) | Central Highlands (Qld) | $227,000 | $380 | 8.7% |
| 13th | Mount Morgan (4714) | Rockhampton | $230,000 | $380 | 8.6% |
| 14th | Monto (4630) | North Burnett | $212,500 | $350 | 8.6% |
| 15th | Townview (4825) | Mount Isa | $260,000 | $425 | 8.5% |
| 16th | Depot Hill (4700) | Rockhampton | $250,000 | $393 | 8.2% |
| 17th | Charleville (4470) | Murweh | $175,000 | $273 | 8.1% |
| 18th | Soldiers Hill (4825) | Mount Isa | $310,000 | $480 | 8.1% |
| 19th | East Innisfail (4860) | Cassowary Coast | $269,000 | $415 | 8.0% |
| 20th | Charters Towers City (4820) | Charters Towers | $240,000 | $370 | 8.0% |
| 21st | Home Hill (4806) | Burdekin | $232,500 | $350 | 7.8% |
| 22nd | Winston (4825) | Mount Isa | $270,000 | $400 | 7.7% |
| 23rd | Capella (4723) | Central Highlands (Qld) | $259,000 | $380 | 7.6% |
| 24th | Healy (4825) | Mount Isa | $395,000 | $563 | 7.4% |
| 25th | Blackall (4472) | Blackall Tambo | $188,000 | $268 | 7.4% |
Source: CoreLogic. Data reported to the period ending August 2024. Median values account for sales transactions over 12 months.
While you might associate the Whitsunday region with beaches, reefs and islands, Collinsville is about 80 kms inland and sits in the Bowen Basin region of Central Queensland. The Bowen Basin has one of the largest coal deposits in Australia, and Collinsville is pretty close to the Collinsville and Sonoma coal mines.
Mining is pretty prominent throughout this list. The Isaac region, also in the Bowen Basin, features another mining town. This tends to be the case for high rental yield suburbs - there’s a high demand for rental property as workers come for an extended period, but this doesn’t translate into demand to buy since there isn’t much else in these areas other than the mines.
Units
| Rank | Suburb (Postcode) | LGA | Median Property Price | Median Weekly Asking Rent | Average Rental Yield |
|---|---|---|---|---|---|
| 1st | Moranbah (4744) | Isaac | $295,000 | $700 | 12.3% |
| 2nd | Koongal (4701) | Rockhampton | $175,000 | $345 | 10.3% |
| 3rd | Dysart (4745) | Isaac | $206,000 | $385 | 9.7% |
| 4th | Jubilee Pocket (4802) | Whitsunday | $288,750 | $515 | 9.3% |
| 5th | Brassall (4305) | Ipswich | $240,000 | $428 | 9.3% |
| 6th | Cardwell (4849) | Cassowary Coast | $217,500 | $375 | 9.0% |
| 7th | Emerald (4720) | Central Highlands (Qld) | $220,000 | $378 | 8.9% |
| 8th | Deagon (4017) | Brisbane | $230,000 | $385 | 8.7% |
| 9th | Edmonton (4869) | Cairns | $260,000 | $430 | 8.6% |
| 10th | Cranbrook (4814) | Townsville | $215,000 | $350 | 8.5% |
| 11th | Bungalow (4870) | Cairns | $240,000 | $390 | 8.5% |
| 12th | Hyde Park (4812) | Townsville | $216,500 | $350 | 8.4% |
| 13th | Idalia (4811) | Townsville | $279,000 | $450 | 8.4% |
| 14th | Manunda (4870) | Cairns | $237,500 | $380 | 8.3% |
| 15th | Currajong (4812) | Townsville | $198,000 | $315 | 8.3% |
| 16th | South Gladstone (4680) | Gladstone | $205,000 | $320 | 8.1% |
| 17th | Woree (4868) | Cairns | $231,000 | $360 | 8.1% |
| 18th | South Mackay (4740) | Mackay | $300,000 | $450 | 7.8% |
| 19th | Wongaling Beach (4852) | Cassowary Coast | $240,000 | $360 | 7.8% |
| 20th | Hermit Park (4812) | Townsville | $234,000 | $350 | 7.8% |
| 21st | Bucasia (4750) | Mackay | $262,500 | $390 | 7.7% |
| 22nd | Bowen (4805) | Whitsunday | $270,000 | $400 | 7.7% |
| 23rd | Mundingburra (4812) | Townsville | $250,000 | $370 | 7.7% |
| 24th | Mackay (4740) | Mackay | $305,000 | $450 | 7.7% |
| 25th | New Auckland (4680) | Gladstone | $238,000 | $350 | 7.6% |
Source: CoreLogic. Data reported to the period ending August 2024. Median values account for sales transactions over 12 months.
Queensland’s cities are much better represented in the highest rental yields for units. This is unsurprising to anyone who has ever been to rural Queensland - the state is more than 1.85 million kilometres squared, so units aren’t exactly commonplace. Outside of the cities, there’s enough room to build houses. Townsville pops up in this list six times, while Brisbane, Mackay, Gladstone, Cairns and Rockhampton all also feature. Again though, the mining town of Moranbah in Isaac had the highest yields.
Highest rental yields in Brisbane
Two suburbs in Redlands, southwest of Brisbane, took out the top spot for houses. Macleay Island and Russell Island, both in the 4184 postcode, had an average yield of 5.5% for houses as of August 2024. For units, the highest rental yields on average were in Brassall, Ipswich (9.3%).
Houses
| Rank | Suburb (Postcode) | LGA | Median Property Price | Median Rent | Average Yield |
|---|---|---|---|---|---|
| 1st | Macleay Island (4184) | Redland | $414,500 | $440 | 5.5% |
| 2nd | Russell Island (4184) | Redland | $381,000 | $400 | 5.5% |
| 3rd | Brendale (4500) | Moreton Bay | $529,000 | $550 | 5.4% |
| 4th | North Booval (4304) | Ipswich | $505,000 | $500 | 5.1% |
| 5th | East Ipswich (4305) | Ipswich | $509,000 | $498 | 5.1% |
| 6th | Dinmore (4303) | Ipswich | $459,250 | $445 | 5.0% |
| 7th | Woodend (4305) | Ipswich | $550,000 | $510 | 4.8% |
| 8th | Belivah (4207) | Logan | $696,000 | $640 | 4.8% |
| 9th | Windaroo (4207) | Logan | $857,500 | $785 | 4.8% |
| 10th | Basin Pocket (4305) | Ipswich | $525,000 | $480 | 4.8% |
| 11th | One Mile (4305) | Ipswich | $500,570 | $450 | 4.7% |
| 12th | Munruben (4125) | Logan | $1,043,000 | $930 | 4.6% |
| 13th | Goodna (4300) | Ipswich | $563,750 | $500 | 4.6% |
| 14th | Eagleby (4207) | Logan | $587,250 | $520 | 4.6% |
| 15th | Archerfield (4108) | Brisbane | $664,250 | $585 | 4.6% |
| 16th | Rocklea (4106) | Brisbane | $625,000 | $550 | 4.6% |
| 17th | Waterford (4133) | Logan | $668,000 | $585 | 4.6% |
| 18th | Yarrabilba (4207) | Logan | $640,000 | $560 | 4.6% |
| 19th | Coochiemudlo Island (4184) | Redland | $555,000 | $483 | 4.5% |
| 20th | Riverview (4303) | Ipswich | $547,000 | $475 | 4.5% |
| 21st | Raceview (4305) | Ipswich | $605,000 | $525 | 4.5% |
| 22nd | North Maclean (4280) | Logan | $930,000 | $800 | 4.5% |
| 23rd | Holmview (4207) | Logan | $686,000 | $590 | 4.5% |
| 24th | Redbank (4301) | Ipswich | $605,000 | $520 | 4.5% |
| 25th | Bundamba (4304) | Ipswich | $562,500 | $483 | 4.5% |
Source: CoreLogic. Data reported to the period ending August 2024. Median values account for sales transactions over 12 months.
Units
| Rank | Suburb (Postcode) | LGA | Median Property Price | Median Weekly Asking Rent | Average Rental Yield |
|---|---|---|---|---|---|
| 1st | Brassall (4305) | Ipswich | $240,000 | $428 | 9.3% |
| 2nd | Deagon (4017) | Brisbane | $230,000 | $385 | 8.7% |
| 3rd | Goodna (4300) | Ipswich | $340,000 | $450 | 6.9% |
| 4th | Brisbane City (4000) | Brisbane | $570,000 | $723 | 6.6% |
| 5th | Fortitude Valley (4006) | Brisbane | $485,000 | $600 | 6.4% |
| 6th | Caboolture (4510) | Moreton Bay | $333,500 | $410 | 6.4% |
| 7th | Bowen Hills (4006) | Brisbane | $488,750 | $600 | 6.4% |
| 8th | South Brisbane (4101) | Brisbane | $591,500 | $718 | 6.3% |
| 9th | Spring Hill (4000) | Brisbane | $496,500 | $600 | 6.3% |
| 10th | Woodridge (4114) | Logan | $330,000 | $390 | 6.1% |
| 11th | Kelvin Grove (4059) | Brisbane | $525,000 | $600 | 5.9% |
| 12th | Mount Warren Park (4207) | Logan | $388,000 | $440 | 5.9% |
| 13th | Heathwood (4110) | Brisbane | $524,500 | $590 | 5.8% |
| 14th | Newstead (4006) | Brisbane | $670,000 | $750 | 5.8% |
| 15th | Upper Mount Gravatt (4122) | Brisbane | $565,000 | $630 | 5.8% |
| 16th | Springfield (4300) | Ipswich | $497,000 | $550 | 5.8% |
| 17th | Beenleigh (4207) | Logan | $375,000 | $410 | 5.7% |
| 18th | Waterford West (4133) | Logan | $380,000 | $415 | 5.7% |
| 19th | Algester (4115) | Brisbane | $625,000 | $678 | 5.6% |
| 20th | Daisy Hill (4127) | Logan | $505,000 | $545 | 5.6% |
| 21st | Raceview (4305) | Ipswich | $420,000 | $450 | 5.6% |
| 22nd | Griffin (4503) | Moreton Bay | $515,000 | $550 | 5.6% |
| 23rd | Lawnton (4501) | Moreton Bay | $472,000 | $500 | 5.5% |
| 24th | Edens Landing (4207) | Logan | $425,000 | $450 | 5.5% |
| 25th | Woolloongabba (4102) | Brisbane | $606,000 | $640 | 5.5% |
Source: CoreLogic. Data reported to the period ending August 2024. Median values account for sales transactions over 12 months.
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| 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 |
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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 | |||||||||||
6.09% p.a. | 6.11% p.a. | $3,027 | Principal & Interest | Variable | $0 | $350 | 60% |
| Disclosure |
First published on April 2024
Picture by David Goulding on Unsplash
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