An RP Data survey has found that Australia’s long-running mining boom has impacted more than just the nation’s trade figures.
According to the research, mining towns account for the top ten rental yields in the resource-rich nation, indicating that investors considering a rental property in Australia could achieve some impressive returns in these letting hotspots.
The Pilbara region of Western Australia has become particularly popular with renters - in fact, four of the top ten rental locations belonged to this area.
Among them was Newman, an industrial centre since iron ore deposits were discovered on Mount Whaleback in the region, which took the top spot. The average rental yield there was as high as 14 per cent, while the town also boasted the highest median weekly rent at $2,165.
South Hedland, also in Pilbara, took third place with rental yields of 9.5 per cent, while its neighbour Port Hedland came in fifth at nine per cent. Pegs Creek, Roebourne, was the other settlement in the area to make the top ten, taking ninth position with rental yields of 8.8 per cent.
Posted by Steve Douglas