Tasmania has always struggled to retain upwardly-mobile residents leaving for the mainland. Apart from a brief period in 2021 where it was the capital growth darling, with meagre population growth and a pretty tepid market of late, some investors probably dismiss Tasmanian property prima facie.
What can't be divined from the numbers though is that Tasmania is undeniably cool. About half of the island is given over to national parks, there are Tasmanian devils running around the place, and then there's the Aurora Australis - it's no wonder Tasmania is one of the fastest growing tourist destinations in the world.
If you're intrigued by the prospect of buying a house or a unit in Australia's most unique state, these suburbs are where you might find the strongest rental yields.
Tasmania rental yields in 2025
As of April 2025 these were the average rental yields in Tasmania:
|
Median price |
Median weekly rent |
Rental yield |
|
|---|---|---|---|
|
Houses (Hobart) |
$695,000 |
$550 |
4.1% |
|
Units (Hobart) |
$535,000 |
$480 |
4.7% |
|
Houses (Rest of Tas) |
$535,000 |
$450 |
4.4% |
|
Units (Rest of Tas) |
$420,000 |
$395 |
4.8% |
Source: Cotality (formerly CoreLogic). Data reported to the period ending April 2025. Median values account for sales transactions over three months.
At 4.1%, Hobart has a higher average yield for houses than Sydney, Melbourne, Brisbane, Adelaide and Canberra, but is behind Darwin and Perth. For units, Hobart is slightly less impressive, level with Melbourne and Adelaide and above only Sydney.
Outside of Hobart, houses have an average rental yield of 4.4% while units are at 4.8%. That’s lower than the respective regions of every other state and territory except for units in regional SA and both houses and units in regional NSW.
Top rental yields in Tasmania
For houses, the highest rental yields in Tasmania are to be found on the west coast. Queenstown has an average yield of 9%, while Zeehan is in second at 8.9% - more than a full percentage point above third in the list. Units have no similar standout, but in top spot is New Norfolk (6.0% average yield).
Houses
| Rank | Suburb (Postcode) | LGA | Median Price | Median Rent | Rental Yield |
|---|---|---|---|---|---|
| 1st | Queenstown (7467) | West Coast | $172,750 | $300 | 9.0% |
| 2nd | Zeehan (7469) | West Coast | $175,000 | $300 | 8.9% |
| 3rd | Rosebery (7470) | West Coast | $172,500 | $250 | 7.5% |
| 4th | Gagebrook (7030) | Brighton | $388,500 | $445 | 6.0% |
| 5th | Mayfield (7248) | Launceston | $342,500 | $390 | 5.9% |
| 6th | East Devonport (7310) | Devonport | $384,000 | $435 | 5.9% |
| 7th | Acton (7320) | Burnie | $359,000 | $395 | 5.7% |
| 8th | Ravenswood (7250) | Launceston | $365,000 | $400 | 5.7% |
| 9th | Chigwell (7011) | Glenorchy | $455,958 | $498 | 5.7% |
| 10th | Shorewell Park (7320) | Burnie | $348,500 | $380 | 5.7% |
| 11th | George Town (7253) | George Town | $350,000 | $380 | 5.6% |
| 12th | Clarendon Vale (7019) | Clarence | $447,500 | $470 | 5.5% |
| 13th | Mowbray (7248) | Launceston | $429,000 | $450 | 5.5% |
| 14th | Bridgewater (7030) | Brighton | $420,000 | $440 | 5.4% |
| 15th | Risdon Vale (7016) | Clarence | $456,000 | $460 | 5.2% |
| 16th | Invermay (7248) | Launceston | $450,000 | $450 | 5.2% |
| 17th | Smithton (7330) | Circular Head | $385,000 | $380 | 5.1% |
| 18th | New Norfolk (7140) | Derwent Valley | $460,000 | $450 | 5.1% |
| 19th | Warrane (7018) | Clarence | $545,500 | $525 | 5.0% |
| 20th | Carlton (7173) | Sorell | $541,750 | $520 | 5.0% |
| 21st | Geeveston (7116) | Huon Valley | $470,000 | $450 | 5.0% |
| 22nd | Hillcrest (7320) | Burnie | $395,000 | $375 | 4.9% |
| 23rd | Primrose Sands (7173) | Sorell | $475,000 | $450 | 4.9% |
| 24th | Austins Ferry (7011) | Glenorchy | $600,000 | $565 | 4.9% |
| 25th | Upper Burnie (7320) | Burnie | $425,000 | $400 | 4.9% |
Source: Cotality (formerly CoreLogic). Data reported to the period ending April 2025. Median values account for sales transactions over 12 months.
Queenstown and Zeehan are the clear standouts on this list. Neither have spectacularly high rents - both are below the median for regional Tasmania - but this is far offset by the extremely low property prices. Houses in Queenstown and Zeehan are well below 50% of the norm for regional TAS.
The west coast of Tasmania is pretty sparsely populated, a ‘region of world-heritage listed wilderness’ to quote the Discover Tasmania website. It’s a fair way to the major urban centres of Hobart and Launceston, which might explain why property is so cheap. The comparatively strong rents might be a by-product of tourism, as well as the various mines in western Tasmania (miners come and go depending on projects so prefer to rent rather than buy).
Units
| Rank | Suburb (Postcode) | LGA | Median Price | Median Rent | Rental Yield |
|---|---|---|---|---|---|
| 1st | New Norfolk (7140) | Derwent Valley | $355,000 | $408 | 6.0% |
| 2nd | East Devonport (7310) | Devonport | $321,500 | $365 | 5.9% |
| 3rd | Newstead (7250) | Launceston | $393,500 | $435 | 5.7% |
| 4th | Newnham (7248) | Launceston | $353,500 | $385 | 5.7% |
| 5th | Geilston Bay (7015) | Clarence | $537,000 | $583 | 5.6% |
| 6th | Old Beach (7017) | Brighton | $461,250 | $500 | 5.6% |
| 7th | Claremont (7011) | Glenorchy | $425,000 | $460 | 5.6% |
| 8th | Moonah (7009) | Glenorchy | $450,000 | $475 | 5.5% |
| 9th | Mount Stuart (7000) | Hobart | $429,375 | $443 | 5.4% |
| 10th | Glenorchy (7010) | Glenorchy | $448,750 | $460 | 5.3% |
| 11th | Longford (7301) | Northern Midlands | $460,000 | $470 | 5.3% |
| 12th | Mowbray (7248) | Launceston | $395,000 | $400 | 5.3% |
| 13th | Perth (7300) | Northern Midlands | $487,500 | $490 | 5.2% |
| 14th | Latrobe (7307) | Latrobe (Tas.) | $440,000 | $440 | 5.2% |
| 15th | Brighton (7030) | Brighton | $455,000 | $450 | 5.1% |
| 16th | Legana (7277) | West Tamar | $505,000 | $490 | 5.0% |
| 17th | West Launceston (7250) | Launceston | $433,500 | $420 | 5.0% |
| 18th | Rokeby (7019) | Clarence | $570,000 | $550 | 5.0% |
| 19th | Hadspen (7290) | Meander Valley | $363,000 | $350 | 5.0% |
| 20th | New Town (7008) | Hobart | $501,500 | $480 | 5.0% |
| 21st | Kings Meadows (7249) | Launceston | $475,000 | $450 | 4.9% |
| 22nd | West Moonah (7009) | Glenorchy | $475,000 | $445 | 4.9% |
| 23rd | South Hobart (7004) | Hobart | $542,500 | $508 | 4.9% |
| 24th | Huonville (7109) | Huon Valley | $440,000 | $410 | 4.8% |
| 25th | Oakdowns (7019) | Clarence | $540,000 | $500 | 4.8% |
Source: Cotality (formerly CoreLogic). Data reported to the period ending April 2025. Median values account for sales transactions over 12 months.
Most of these top yields for units are in and around Hobart, Launceston and Devonport. The rest of Tasmania is pretty sparsely populated so there aren’t too many high density areas - most people live in houses.
Top rental yields in Hobart
The Hobart suburbs with the top rental yields for houses was Gagebrook (6.0%). For units, New Norfolk took top spot with an average yield of 6.0%,
Houses
| Rank | Suburb (Postcode) | LGA | Median Price | Median Rent | Rental Yield |
|---|---|---|---|---|---|
| 1st | Gagebrook (7030) | Brighton | $388,500 | $445 | 6.0% |
| 2nd | Chigwell (7011) | Glenorchy | $455,958 | $498 | 5.7% |
| 3rd | Clarendon Vale (7019) | Clarence | $447,500 | $470 | 5.5% |
| 4th | Bridgewater (7030) | Brighton | $420,000 | $440 | 5.4% |
| 5th | Risdon Vale (7016) | Clarence | $456,000 | $460 | 5.2% |
| 6th | New Norfolk (7140) | Derwent Valley | $460,000 | $450 | 5.1% |
| 7th | Warrane (7018) | Clarence | $545,500 | $525 | 5.0% |
| 8th | Carlton (7173) | Sorell | $541,750 | $520 | 5.0% |
| 9th | Primrose Sands (7173) | Sorell | $475,000 | $450 | 4.9% |
| 10th | Austins Ferry (7011) | Glenorchy | $600,000 | $565 | 4.9% |
| 11th | Mornington (7018) | Clarence | $590,000 | $550 | 4.8% |
| 12th | Glenorchy (7010) | Glenorchy | $570,500 | $530 | 4.8% |
| 13th | Claremont (7011) | Glenorchy | $540,000 | $500 | 4.8% |
| 14th | Lutana (7009) | Glenorchy | $603,750 | $550 | 4.7% |
| 15th | Berriedale (7011) | Glenorchy | $550,000 | $500 | 4.7% |
| 16th | Rosetta (7010) | Glenorchy | $613,000 | $550 | 4.7% |
| 17th | Midway Point (7171) | Sorell | $615,000 | $550 | 4.6% |
| 18th | Montrose (7010) | Glenorchy | $590,000 | $520 | 4.6% |
| 19th | Brighton (7030) | Brighton | $595,000 | $523 | 4.6% |
| 20th | Lenah Valley (7008) | Hobart | $737,500 | $620 | 4.4% |
| 21st | Moonah (7009) | Glenorchy | $640,000 | $533 | 4.3% |
| 22nd | Sorell (7172) | Sorell | $640,000 | $520 | 4.2% |
| 23rd | Oakdowns (7019) | Clarence | $696,000 | $565 | 4.2% |
| 24th | West Moonah (7009) | Glenorchy | $647,000 | $525 | 4.2% |
| 25th | Lauderdale (7021) | Clarence | $747,500 | $605 | 4.2% |
Source: Cotality (formerly CoreLogic). Data reported to the period ending April 2025. Median values account for sales transactions over 12 months.
Units
| Rank | Suburb (Postcode) | LGA | Median Price | Median Rent | Rental Yield |
|---|---|---|---|---|---|
| 1st | New Norfolk (7140) | Derwent Valley | $355,000 | $408 | 6.0% |
| 2nd | Geilston Bay (7015) | Clarence | $537,000 | $583 | 5.6% |
| 3rd | Old Beach (7017) | Brighton | $461,250 | $500 | 5.6% |
| 4th | Claremont (7011) | Glenorchy | $425,000 | $460 | 5.6% |
| 5th | Moonah (7009) | Glenorchy | $450,000 | $475 | 5.5% |
| 6th | Mount Stuart (7000) | Hobart | $429,375 | $443 | 5.4% |
| 7th | Glenorchy (7010) | Glenorchy | $448,750 | $460 | 5.3% |
| 8th | Brighton (7030) | Brighton | $455,000 | $450 | 5.1% |
| 9th | Rokeby (7019) | Clarence | $570,000 | $550 | 5.0% |
| 10th | New Town (7008) | Hobart | $501,501 | $480 | 5.0% |
| 11th | West Moonah (7009) | Glenorchy | $475,000 | $445 | 4.9% |
| 12th | South Hobart (7004) | Hobart | $542,500 | $508 | 4.9% |
| 13th | Oakdowns (7019) | Clarence | $540,000 | $500 | 4.8% |
| 14th | Sorell (7172) | Sorell | $480,000 | $440 | 4.8% |
| 15th | Lutana (7009) | Glenorchy | $495,000 | $450 | 4.7% |
| 16th | Margate (7054) | Kingborough | $522,500 | $475 | 4.7% |
| 17th | Bellerive (7018) | Clarence | $558,500 | $495 | 4.6% |
| 18th | Kingston (7050) | Kingborough | $576,500 | $500 | 4.5% |
| 19th | Lindisfarne (7015) | Clarence | $558,000 | $480 | 4.5% |
| 20th | Howrah (7018) | Clarence | $590,000 | $498 | 4.4% |
| 21st | Lenah Valley (7008) | Hobart | $560,000 | $470 | 4.4% |
| 22nd | Mount Nelson (7007) | Hobart | $504,000 | $420 | 4.3% |
| 23rd | Blackmans Bay (7052) | Kingborough | $615,000 | $490 | 4.1% |
| 24th | Sandy Bay (7005) | Hobart | $655,000 | $510 | 4.0% |
| 25th | West Hobart (7000) | Hobart | $631,500 | $470 | 3.9% |
Source: Cotality (formerly CoreLogic). Data reported to the period ending April 2025. Median values account for sales transactions over 12 months.
Looking to buy an investment property? Here are some of the top investment loans available at the moment
| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Extra Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5.69% p.a. | 6.03% p.a. | $2,899 | Principal & Interest | Variable | $0 | $530 | 90% |
| Disclosure | |||||||||||
5.74% p.a. | 5.76% p.a. | $2,915 | Principal & Interest | Variable | $0 | $250 | 60% | Disclosure | ||||||||||||
5.69% p.a. | 5.60% p.a. | $2,899 | Principal & Interest | Variable | $0 | $0 | 80% |
| Promoted | Disclosure | ||||||||||
5.84% p.a. | 5.88% p.a. | $2,947 | Principal & Interest | Variable | $0 | $530 | 90% |
| Promoted | Disclosure | ||||||||||
5.74% p.a. | 5.76% p.a. | $2,915 | Principal & Interest | Variable | $0 | $350 | 60% | Disclosure |
Picture by Patrick McGregor on Unsplash
First published in December 2024
Ready, Set, Buy!
Learn everything you need to know about buying property – from choosing the right property and home loan, to the purchasing process, tips to save money and more!
With bonus Q&A sheet and Crossword!
Jacob Cocciolone
William Jolly
