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Top Suburbs for Rental Yield in Queensland

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When investing in real estate, you must look at potential rental yields. Although you won’t know exactly how much a property will make before investing, you can make a calculated estimate based on location and similar properties. There are a few regions where rental yields are considerably higher. Before investing, take note of the high rental yield suburbs in Queensland: 

Why invest in Queensland real estate? 

Queensland is an increasingly popular destination for property investors because of its strong local economy, population growth, and infrastructure improvements. Investors also see potential high rental yields while having a lower barrier of entry compared to states like New South Wales and Victoria. Recently, supply and demand in the local real estate sector have been working in investors' favour.  

Queensland has become one of the best places for property investment for those looking to capitalise on good rental yields and capital growth. The average property price in the state has increased to $828,300 in December 2023 from $803,900 in September 2023.  

Brisbane, in particular, could see significant growth from 2024 to 2025 according to real estate forecasts from NAB, ANZ, and Westpac. NAB’s latest pricing forecasts expect a growth of 7.7% while Westpac estimates an 8% increase. Westpac, ANZ, and NAB estimate an additional 3% increase in house prices for Brisbane in 2025. These real estate projections may change depending on factors such as interest rates, supply, demand, and the like. 

Suburbs in Greater Brisbane with the highest rental yield 

Brisbane’s rental market has seen exceptional growth in 2023. Median weekly rents rose 13.4% in the past year. The average weekly rent for houses in Brisbane costs around $674 and unit rent prices are around $526. The low vacancy rates of an estimated 1% could point to reliable rental income for property investors. 

A challenge now for property investors in Brisbane is the low housing supply. The city’s competitive real estate market could dissuade potential sellers from putting their property on the market because it’s much more difficult to find a new dwelling.

Highest house rental yield suburbs in Brisbane

Suburb Region Rental yield Median rental value
Russell Island Brisbane - East 5.5% $415
Laidley Ipswich 5.5% $468
Kilcoy Moreton Bay - North 5.4% $491
Lowood Ipswich 5.3% $490
Macleay Island Brisbane - East 5.3% $434
North Booval Ipswich 5.3% $494
Plainland Ipswich 5.3% $583
Eagleby Logan - Beaudesert 5.3% $550
One Mile Ipswich 5.2% $459
Rosewood Ipswich 5.2% $508

Source: CoreLogic Best of the Best 2023 (December 2023) report

Over half of the suburbs listed above are found in Ipswich in South East Queensland. It’s become a hotspot because of its proximity to Brisbane’s CBD, more affordable house prices, and its family-friendly environment. The top 10 suburbs have rental yields ranging from 5.2% to 5.5%. 

Highest unit rental yield suburbs in Brisbane 

Suburb Region Rental yield Median rental value
Spring Hill Brisbane Inner City 7.2% $632
Bethania Logan - Beaudesert 7.1% $447
Goodna Ipswich 7.0% $398
Woodridge Logan - Beaudesert 7.0% $367
Fortitude Valley Brisbane Inner City 6.6% $612
Waterford West Logan - Beaudesert 6.5% $406
Beenleigh Logan - Beaudesert 6.5% $410
Caboolture Moreton Bay - North 6.5% $376
Bundamba Ipswich 6.4% $408
Bowen Hills Brisbane Inner City 6.3% $600

Source: CoreLogic Best of the Best 2023 (December 2023) report

Rental yields for units in Greater Brisbane are higher than houses. There’s a one to two per cent difference in the rental yields, but the median rental values are quite similar. Demand for apartments may not be as high as suburbs due to lifestyle needs. 

Suburbs in Regional Queensland with the highest rental yield 

Regional Queensland is not lagging behind Greater Brisbane in terms of property prices. According to recent real estate market projections, there could be an increase in rent and house prices in the future. In 2023, CoreLogic data shows that Regional Queensland had the second-highest growth in terms of median housing and median unit prices. The media house prices had an 8.6% growth while median unit prices grew 9.1%.  

According to the Regional Movers Index powered by CommBank and the Regional Australia Institute, Queensland is among the top regions for internal migrations in 2023. The lower cost of living could attract even more movement to Queensland which could increase housing and rental prices even more.

Highest house rental yield suburbs in Queensland

Suburb Region Rental yield Median rental value
Collinsville Mackay - Isaac - Whitsunday 12.8% $363
Dysart Mackay - Isaac - Whitsunday 10.6% $398
Blackwater Central Queensland 10.0% $384
Moranbah Mackay - Isaac - Whitsunday 9.8% $608
Mount Morgan Central Queensland 9.7% $370
Moura Central Queensland 9.6% $374
Depot Hill Central Queensland 9.6% $402
Rockhampton City Central Queensland 8.9% $411
Clermont Mackay - Isaac - Whitsunday 7.9% $389
Berserker Central Queensland 7.8% $429

Source: CoreLogic Best of the Best 2023 (December 2023) report

The highest rental yields suburbs for houses in Regional Queensland can be found in only two regions: Mackay-Isaac-Whitsunday and Central Queensland. Regional Queensland's rental yields vary greatly from 7.8% to 12.8%. This makes finding the right suburb for your investment property incredibly important as it has a huge effect on your potential rental yields. 

Highest unit rental yield suburbs in Queensland 

Suburb Region Rental yield Median rental value
Moranbah Mackay - Isaac - Whitsunday 10.7% $559
South Mackay Mackay - Isaac - Whitsunday 9.4% $404
Blacks Beach Mackay - Isaac - Whitsunday 8.8% $454
Cranbrook Townsville 8.8% $321
Woree Cairns 8.7% $366
Mackay Mackay - Isaac - Whitsunday 8.7% $417
Emerald Central Queensland 8.3% $342
Bowen Mackay - Isaac - Whitsunday 8.2% $400
Manunda Cairns 7.9% $389
Rosslea Townsville 7.9% $357

Source: CoreLogic Best of the Best 2023 (December 2023) report

Rental yield percentages for units range from 7.9% to 10.7%. There is more variety in the top suburbs for rental yield in units with Townsville, Cairns, and Central Queensland also in the mix. 

The Mackay-Isaac-Whitsunday has suburbs with the highest grossing rental yields in the state both for units and houses. 

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