According to the recent data from Core Logic RP Data, you can still find affordable properties with strong yields near the capital cities. This is especially the case in Tasmania, Queensland, South Australia and the Northern Territory which dominated the list of suburbs with high yields.
Statistics suggest that many of the properties in these areas would give you positive cash flow as well.
In addition to their cash flow potential, these suburbs are also in a good position to grow strongly in value, being close to the CBD.
Some interesting highlights worth noting are that Zuccoli and Johnston (with gross rental yields of 15% and 13% respectively) are both in the Palmerston LGA in Darwin.
Meanwhile, houses in the Hobart suburbs of Gagebrook, Clarendon Vale and Risdon Vale all have gross rental yields above 8% and median house prices at $170,000 or under.
The list is a good mix of houses and units, with houses dominating the first five positions. Not surprisingly, there are no suburbs there from NSW or Victoria, which tend to have higher median prices and lower gross rental yields than the other states.
Highest yield suburbs close to the CBD
| Suburb/State | Type | Median price | Gross rental yield | Average GPO Distance (KM) |
| Zuccoli, NT | H | $268,000 | 15% | 14 |
| Johnston, NT | H | $290,000 | 13% | 11 |
| Gagebrook, TAS | H | $125,000 | 9% | 16 |
| Clarendon Vale, TAS | H | $126,000 | 9% | 9 |
| Risdon Vale, TAS | H | $170,000 | 8% | 9 |
| Boronia Heights, QLD | U | $220,000 | 8% | 15 |
| Brookwater, QLD | U | $361,000 | 8% | 16 |
| Bridgewater, TAS | H | $167,500 | 8% | 17 |
| Woodridge, QLD | U | $185,000 | 7% | 19 |
| Rokeby, TAS | H | $185,000 | 7% | 9 |
| Goodwood, TAS | H | $206,000 | 7% | 7 |
| Chigwell, TAS | H | $195,000 | 7% | 11 |
| Elizabeth Vale, SA | U | $151,500 | 7% | 21 |
| Salisbury North, SA | U | $192,000 | 7% | 19 |
| Warrane, TAS | H | $232,500 | 7% | 5 |
| Kuraby, QLD | U | $295,000 | 7% | 17 |
Source: CoreLogic RP Data, March 2015
