Wyong suburbs yield top rentals in 2016: CoreLogic data
When it comes to the highest gross rental yields for houses in and around Sydney, it's all Wyong.
All the top 10 spots for highest gross rental yields in CoreLogic's Best of the Best 2016 report are occupied by suburbs in the Wyong council area, with Mannering Park at the top with a yield of 5.2 percent and a median price of $428,688.
It was followed by San Remo and Blue Haven, both with a yield of 5.1 percent, according to CoreLogic.
To illustrate the point, Property Observer found a four-bedroom house at 3 Cheryl Street Mannering Park, NSW, 2259 (above, below) that sold in August 2016 for $425,000, according to RP Data and is currently listed for rent within the range of $420-$445. At the upper end of that range, the yield works out to be 5.4 percent.
For units, the best rental yield came from Long Jetty, again in Wyong. The median value of units in Long Jetty was $419,266 with a gross rental yield of 5.1%.
The list for units was more mixed, with three suburb each from Wyong, Gosford and Campbelltown council areas and one from Blacktown.
Property Observer found a two-bedroom unit at 8/5-7 Centennial Ave, Long Jetty, NSW 2261 (below) that sold for $410,000 in October 2015, and was last advertised for rent in February 2015 for $375 pw, according to www.realestate.com.au figures. The rental yield works out to be 4.7 percent, slightly lower than the overall yield of 5.1 percent for Long Jetty.
