Property investors reap mining rewards

PROPERTY investors continue to reap rewards from the resources industry, with mining towns accounting for the top 10 rental yields in the country.

Some of the highest rental housing demand exists in mining towns.

PROPERTY investors continue to reap rewards from the resources industry, with mining towns accounting for the top 10 rental yields in the country.

An RP Data survey shows some of the highest rental housing demand exists in the Pilbara region of Western Australia, with the iron ore hotspots of Newman, Port Hedland and South Hedland among the top five towns nationally.

The top spot is Newman, where houses brought in returns of 14 per cent in September, followed by Miles in Queensland at 10 per cent and South Hedland at 9.5 per cent.

However, the September survey, which is based on gross estimated value rental yield, included some towns with small numbers of rental properties.

Kambalda in the goldfields of Western Australia and the iron ore hub of Port Hedland were ranked the fourth and fifth highest yielding housing markets respectively.

Year in review

Highest median value

House: Point Piper, Sydney, $6,312,475

Units: Dawes Point, Sydney, $2,452,651

Lowest median value

House: Ungarie, Central West NSW, $62,200

Unit: McCracken, Outer Adelaide, $109,609

Highest gross rental yields

House: Johnston, Darwin, 14.7 per cent

Units: Ultimo, Sydney, 11.2 per cent

Highest gross rental yields within 10km of capital city

House: Larrakeyah, Darwin, 8.3 per cent

Unit: Ultimo, Sydney, 11.2 per cent

Highest gross rental yields regional

House: Newman, Western Australia., 14 per cent

Greatest 12-month change in median values

House: Kirribilli, Sydney, 42.5 per cent

Unit: Enmore, Sydney, 46.9 per cent

Highest median weekly rent

House: Newman, Pilbara, $2,165

Unit: Port Hedland, Pilbara, $1,300

Highest gross value of sales

House: Mosman, Sydney, $805,977,253

Unit: Surfers Paradise, Gold Coast, $571,568,317