High rents and rising values are inspiring greater investor activity this year
3 min
Advertised rents on houses and apartments have risen by more than 40 percent nationwide since the pre-pandemic period, with a shortage of rental homes and record levels of net overseas migration pushing weekly rents higher and reducing vacancy rates to historical lows, said Proptrack senior economist Eleanor Creagh.
However, Ms Creagh said the pressure in Australia’s rental market should ease over the next year as overseas migration falls, with the Federal Government expecting it to halve from here. Meantime, home values have continued to lift because the supply versus demand imbalance is now so great it is trumping the traditional dampening effect of rising interest rates on prices. Proptrack data showed the national median value lifted for the 17th consecutive month in May.
“Despite a rise in the number of homes for sale this year, strong population growth, tight rental markets, and home equity gains are all contributing to demand, while the supply side of the housing market has fallen short and as a result, home prices reached a fresh peak in May as robust demand has continued to push prices upwards,” Ms Creagh said.
More investors are in the property market this year due to strong rental yields and continually rising values. Ms Creagh said lending to investors had reached record levels in Queensland, South Australia and Western Australia, which are the strongest states at the moment for capital city price growth and rental demand.
Proptrack has published data showing the top suburbs for rental yields in both the capital cities and regional areas of each state, as well as the suburbs with the highest capital growth over five years.
Here are the results for the five mainland states.
NSW
The suburbs with the highest rental yields for houses in Greater Sydney are Killarney Vale 4.2 percent, Watanobbi 4.1 percent, Blue Haven 4.1 percent, Woongarrah 4.1 percent and Airds 4.1 percent.
In the regions, the top rental yields can be found in Broken Hill 9 percent, Cobar 8.5 percent, South Lismore 8.3 percent, Boggabri 7.5 percent and Moree 7.2 percent. The top suburbs across NSW for capital growth over the past five years are Finley 126 percent, Culcairn 123 percent, Hay 108 percent, Broulee 106 percent and West Wyalong 105 percent.
Victoria
In Greater Melbourne, the suburbs with the highest rental house yields are Wollert 4.4 percent, Coolaroo 4.3 percent, Dallas 4.3 percent, Koo Wee Rup 4.2 percent and Roxburgh Park 4.2 percent. In the regions, the best rental yields for houses can be found in Red Cliffs 6 percent, Mooroopna 5.9 percent, Numurkah 5.9 percent, Stawell 5.8 percent and Morwell 5.6 percent.
The top Victorian suburbs for five-year capital growth are Warracknabeal 119 percent, Orbost 108 percent, Beechworth 102 percent, Myrtleford 100 percent and Euroa 99 percent.
Queensland
The suburbs with the highest rental house yields in Greater Brisbane are Laidley North 6.1 percent, Laidley 5.6 percent, Churchill 5.5 percent, North Booval 5.5 percent and Russell Island 5.4 percent. In the regions, the top rental-yielding suburbs are Collinsville 10.4 percent, Moura 10.1 percent, Moranbah 9.7 percent, Pioneer 9.6 percent and Blackwater 9.5 percent.
The Sunshine State’s fastest-growing suburbs for home values over five years are Mount Morgan 157 percent, Woodford 126 percent, Dysart 122 percent, Mount Coolum 121 percent and Worongary 114 percent.
South Australia
The suburbs with the highest rental yields for houses in Greater Adelaide are Eyre 5.6 percent, Elizabeth North 5.6 percent, Smithfield Plains 5.6 percent, Munno Para 5.4 percent and Salisbury North 5.4 percent. The best rental yields in regional South Australia can be found in Whyalla Norrie 7.9 percent, Risdon Park 7.8 percent, Port Pirie South 7.8 percent, Whyalla Stuart 7.7 percent and Port Augusta 7.6 percent.
The top South Australian suburbs for five-year capital growth are Elizabeth Downs and Elizabeth North – both at 135 percent, Elizabeth South 127 percent, Elizabeth East 123 percent and Hackham West 117 percent.
Western Australia
The suburbs with the highest rental yields for houses in Greater Perth are Hilbert 6.4 percent, Medina 6.3 percent, Stratton 6.3 percent, Balga 6.3 percent and Dayton 6.2 percent. The best rental yields across regional areas can be found in Kambalda East 12.2 percent, Kambalda West 11.2 percent, Nickol 11 percent, South Headland 10.9 percent and Newman 10.7 percent.
The top West Australian suburbs for capital growth over the past five years are South Hedland 135 percent, Rangeway 116 percent, Darlington 115 percent, Cooloongup 114 percent and Spalding 113 percent.
Rugged coastal drives and fireside drams define a slow, indulgent journey through Scotland’s far north.
A haven for hedge-fund titans and Hollywood grandees, Greenwich is one of the world’s most expensive residential enclaves, where eye-watering prices meet unapologetic grandeur.
A haven for hedge-fund titans and Hollywood grandees, Greenwich is one of the world’s most expensive residential enclaves, where eye-watering prices meet unapologetic grandeur.
4 minGreenwich, Connecticut, is in New England (just barely), but that doesn’t mean it’s a quaint, sleepy small town with covered bridges and white churches on the green.
It’s leafy, certainly, but it’s also a luxury-minded power centre close to New York City, with many celebrity residents (director Ron Howard, singer Diana Ross, actor Meryl Streep and, at one time, Australia’s own Mel Gibson).
The main shopping street, Greenwich Avenue, is home to brand stores such as Hermès, Kate Spade, Saks Fifth Avenue, and Tiffany & Co.
And Greenwich, particularly in the “back country” north of the Merritt Parkway, is host to some of the most exclusive real estate in the world.
The average price for a single-family home in the second quarter of 2025 was USD $3.25 million (AUD $4.9 million). But that’s merely an entry point, buying a smaller home in one of the town’s less desirable neighbourhoods.
What does USD $43 million (AUD $66 million) buy in Greenwich?
Last autumn’s most expensive listing offered a 1,068-square-metre waterfront home with eight bedrooms and 11 bathrooms, plus “Gatsby-like lawns”, a gym, games room, party room, wine cellar, fruit orchard, pool and spa. The front and side porches have heated floors.
Prefer something more traditional and secluded? For USD $33 million (AUD $50 million), buyers could close on an 11,760-square-metre Georgian manor on 3.2 hectares, featuring eight fireplaces, an elevator, and a dumbwaiter.
The first floor features a three-storey cascading chandelier. For bibliophiles, there’s a two-storey mahogany library. If bocce is more your pace, a similar USD $25 million compound on 7.5 hectares, built for a liquor magnate in 2009, may appeal. Fourteen bathrooms should suffice.
The Greenwich market is strong, but not without challenges.
“The big problem is that there’s no inventory,” said Evangela Brock, an agent with Douglas Elliman. “It’s extremely low at all price points.”
In November, just 15 properties under USD $1 million (AUD $1.52 million) were listed without contracts, compared with 23 above USD $10 million (AUD $15.2 million). Of those, six had contracts pending. Greenwich has more than 17,000 single-family homes.
Kanebridge Quarterly toured two mid-priced houses in Greenwich. “You don’t lose money in Greenwich real estate,” said Beth MacGillivray, a realtor with the Higgins Group. “This is the hot spot.”
MacGillivray opened the door to a 733.9-square-metre Georgian colonial in the Sherwood Farms Association development her family built in 2005. The house was expected to sell for about USD $5 million (AUD $7,743,535).
The six-bedroom, four-level house is move-in ready, with staged furniture showing its potential and many of the amenities that buyers in this range expect.
Visitors enter through a two-storey foyer with a marble floor. A circular staircase leads to an airy living room with double-height ceilings.
There’s a main bedroom with his-and-hers bathrooms, a cherry-panelled library with cigar-smoke venting, five fireplaces, and a state-of-the-art kitchen with a breakfast nook by Greenwich-based designer Christopher Peacock.
Most rooms have huge walk-in wardrobes. Even the laundry room has granite countertops. Custom millwork, cabinetry and fixtures are evident throughout.
The drawbacks? A smaller yard and no pool. Still, refugees from the city would marvel at the abundant interior space.
Not far away, an entirely different house was on the market for USD $2.66 million.
The imposing 696.7-square-metre, nine-bedroom, seven-bath Georgian/Federal home on Shady Lane in the Glenville neighbourhood was built in 1900. Its good bones and inherent grandeur were apparent, as was a clear need for updating.
“It’s a good project for someone,” said realtor Kaori Higgins. “It needs the right buyer, someone who is looking to return it to its stately original condition.”
Given the hot market, some buyers may be tempted to tear it down and build anew.
But the house is filled with charming period details, including hand-built stone fireplaces, reading nooks, pocket doors, leaded windows and beautiful original millwork.
The second floor offers a vast veranda with views of Long Island Sound and a built-in swimming pool.
The drawbacks? Bathrooms that were awkwardly redesigned in the 1970s, unsightly flooring on the upper levels, and crumbling exterior elements.
Higgins noted that a nearby sister property, fully renovated, sold for USD $11 million (AUD $17 million). Any buyer of Shady Lane’s faded elegance would need both imagination and deep pockets.
For contrast, Kanebridge Quarterly left Greenwich for nearby Fairfield’s upscale Greenfield Hill neighbourhood to visit Lion’s Gate, a 595 square metre Tudor Revival home built as a modest dwelling in the 1920s but extensively expanded and remodelled in 2000.
With three acres of land, a guest cottage, an artist’s studio and a pool house, the asking price is USD $3.3 million (AUD $5 million). Like the Sherwood home, Lion’s Gate is flawlessly move-in ready, with designer touches throughout.
The entire second floor was added during the renovation and features parquet flooring, a massive main suite, arched doorways and 2.74-metre ceilings.
Many rooms include walk-in wardrobes, extensive carved millwork and built-ins. The wood-panelled library (on the site of the former stable) is warm and inviting.
The expansive kitchen includes a window seat with a hand-painted ceiling, a wine cooler and a butler’s pantry.
Realtor Lorelei Atwood said Fairfield faces the same inventory shortage as Greenwich.
“Demand is growing as more New York-based executives are being told they have to report to the office,” she said. “Fairfield has always been a commuter town.”
Why is this home USD $3.3 million (AUD $5 million), and the Sherwood property around USD $5 million (AUD $7,743,535)?
Location. Greenfield Hill is lovely, but Greenwich real estate occupies a rarefied class of its own.
Note: Thanks to realtor Sherri Steeneck for chaperoning.
This story appeared in the Autumn issue of Kanebridge Quarterly, which you can buy here.
