Highest-yielding suburbs in Australia’s capital cities revealed
By Bianca Dabu
27 April 2021
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1 minute read
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With national rents surging at the fastest pace in 14 years, certain areas are performing much better than others as rental yields stagnate across the country.
Despite a record growth in rents over the last quarter, national rental yields compressed to 3.55 per cent as dwelling values rose by a remarkable 2.8 per cent over the month of March, CoreLogic’s Rental Review for the March 2021 quarter revealed.
While gross yields across regional markets remained higher than those in the capital cities, both suffered noticeable declines in the first quarter, with yields across the combined capitals dropping from 3.42 per cent in the December quarter to 3.25 per cent in March, and from 4.83 per cent to 4.69 per cent in the regional markets.
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Subscriber only A popular Brisbane southside MP who grew his margin to one of the biggest in the Queensland in last year s State Election will today announce his retirement from politics after learning of a worsening outlook for his cancer diagnosis, first revealed in November 2019. Stretton MP Duncan Pegg, first elected in the 2015 landslide which ousted former LNP Premier Campbell Newman, is expected to rise in parliament at 3pm this afternoon for the last time to give his valedictory speech. In it, he will tell the parliament that with the heaviest of hearts , he will tender his resignation in the coming weeks.
The dole capitals of Australia have been revealed as having unemployment rates double the national average despite a national spike in job vacancies.
Australia s jobless rate fell to 5.6 per cent in March, the lowest since the start of the pandemic a year ago and job vacancies are at the highest level in 12 years.
But in some outer suburbs and satellite cities, unemployment is double that with poorer areas a 40-minute drive from Sydney and Brisbane struggling the most.
These areas having a higher concentration of hospitality businesses and were more dependent on immigration for economic activity before the pandemic.
Sydney s outer south-west covering Cabramatta and Liverpool has a jobless rate of 11.2 per cent, highlighting higher levels of labour market woes following the end of JobKeeper wage subsidies.