by Sanjeev Sah | Oct 08, 2024 | Market Updates

From June 2023 to June 2024, weekly rents increased by 9.1% nationally, and yields rose from 4.1% to 4.3% over the same period, according to PropTrack.  

The strong growth in rental income is paying off handsomely for investors who own property in some suburbs. PropTrack’s data shows there are 140 suburbs across the country where rental income covers mortgage repayments and delivers a profit. 

Western Australia leads with the highest number of profitable suburbs and the largest rental yields.  

Baynton, in regional WA, takes the top spot, with an average rent price of $5,600. The average monthly mortgage repayment is just under $3,500, leaving investors with a gross monthly return of $2,100. Seven other suburbs in Western Australia are bringing returns of over $1,000.  

Proof that location does matter when it comes to property investing.