Highest rental yields in Tasmania
Dominic Beattie
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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 2026
Per the most recent data these were the average rental yields in Tasmania:
Median price | Median weekly rent | Rental yield | |
|---|---|---|---|
Houses (Hobart) | $736,000 | $560 | 4.0% |
Units (Hobart) | $585,000 | $500 | 4.8% |
Houses (Rest of Tas) | $580,000 | $460 | 4.3% |
Units (Rest of Tas) | $420,000 | $420 | 5.1% |
Source: Cotality (formerly CoreLogic). Data reported to the period ending October 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, still above Sydney, Brisbane, and Adelaide, level with Melbourne and below Perth, Darwin, and Canberra.
Outside of Hobart, houses have an average rental yield of 4.3% while units are at 5.1%. That’s lower than the respective regions of every other state and territory except for units in regional SA, Queensland, and Victoria 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. Zeehan has an average yield of 8.9%, while Queenstown is in second at 7.4% - more than a full percentage point above third in the list. Units have no similar standout, but in top spot is East Devonport (6.0% average yield).
Houses
| Rank | Suburb (Postcode) | LGA | Median Price | Median Rent | Rental Yield |
|---|---|---|---|---|---|
| 1st | Zeehan (7469) | West Coast | $175,000 | $300 | 8.9% |
| 2nd | Queenstown (7467) | West Coast | $202,500 | $290 | 7.4% |
| 3rd | Gagebrook (7030) | Brighton | $382,750 | $450 | 6.1% |
| 4th | Herdsmans Cove (7030) | Brighton | $395,000 | $450 | 5.9% |
| 5th | White Beach (7184) | Tasman | $375,000 | $423 | 5.9% |
| 6th | Mayfield (7248) | Launceston | $360,000 | $405 | 5.9% |
| 7th | Bridgewater (7030) | Brighton | $425,000 | $450 | 5.5% |
| 8th | Austins Ferry (7011) | Glenorchy | $605,000 | $640 | 5.5% |
| 9th | Ravenswood (7250) | Launceston | $388,000 | $410 | 5.5% |
| 10th | George Town (7253) | George Town | $377,500 | $395 | 5.4% |
| 11th | Risdon Vale (7016) | Clarence | $460,000 | $480 | 5.4% |
| 12th | Clarendon Vale (7019) | Clarence | $465,500 | $480 | 5.4% |
| 13th | Mowbray (7248) | Launceston | $450,000 | $460 | 5.3% |
| 14th | Campbell Town (7210) | Northern Midlands | $407,500 | $415 | 5.3% |
| 15th | Dover (7117) | Huon Valley | $495,000 | $500 | 5.3% |
| 16th | Waverley (7250) | Launceston | $431,500 | $425 | 5.1% |
| 17th | Acton (7320) | Burnie | $412,500 | $405 | 5.1% |
| 18th | Invermay (7248) | Launceston | $470,000 | $460 | 5.1% |
| 19th | Chigwell (7011) | Glenorchy | $539,250 | $525 | 5.1% |
| 20th | Hillcrest (7320) | Burnie | $430,000 | $415 | 5.0% |
| 21st | Goodwood (7010) | Glenorchy | $565,093 | $545 | 5.0% |
| 22nd | East Devonport (7310) | Devonport | $464,500 | $445 | 5.0% |
| 23rd | Smithton (7330) | Circular Head | $402,500 | $385 | 5.0% |
| 24th | Montello (7320) | Burnie | $440,000 | $420 | 5.0% |
| 25th | New Norfolk (7140) | Derwent Valley | $475,000 | $450 | 4.9% |
Source: Cotality (formerly CoreLogic). Data reported to the period ending October 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 | East Devonport (7310) | Devonport | $327,600 | $380 | 6.0% |
| 2nd | Newstead (7250) | Launceston | $400,000 | $455 | 5.9% |
| 3rd | Youngtown (7249) | Launceston | $377,773 | $425 | 5.9% |
| 4th | New Town (7008) | Hobart | $466,500 | $500 | 5.6% |
| 5th | Moonah (7009) | Glenorchy | $458,500 | $490 | 5.6% |
| 6th | Legana (7277) | West Tamar | $515,000 | $550 | 5.6% |
| 7th | Trevallyn (7250) | West Tamar | $415,000 | $440 | 5.5% |
| 8th | Newnham (7248) | Launceston | $381,000 | $400 | 5.5% |
| 9th | Glenorchy (7010) | Glenorchy | $459,050 | $480 | 5.4% |
| 10th | Mowbray (7248) | Launceston | $375,000 | $390 | 5.4% |
| 11th | Claremont (7011) | Glenorchy | $445,000 | $460 | 5.4% |
| 12th | Longford (7301) | Northern Midlands | $460,000 | $475 | 5.4% |
| 13th | Hadspen (7290) | Meander Valley | $360,000 | $370 | 5.3% |
| 14th | Warrane (7018) | Clarence | $545,000 | $550 | 5.2% |
| 15th | Rokeby (7019) | Clarence | $522,675 | $518 | 5.2% |
| 16th | Ulverstone (7315) | Central Coast (Tas.) | $414,000 | $410 | 5.1% |
| 17th | West Launceston (7250) | Launceston | $451,500 | $440 | 5.1% |
| 18th | Prospect (7250) | Launceston | $475,000 | $460 | 5.0% |
| 19th | Latrobe (7307) | Latrobe (Tas.) | $465,000 | $450 | 5.0% |
| 20th | Upper Burnie (7320) | Burnie | $339,500 | $328 | 5.0% |
| 21st | Huonville (7109) | Huon Valley | $475,000 | $455 | 5.0% |
| 22nd | Brighton (7030) | Brighton | $470,000 | $450 | 5.0% |
| 23rd | South Launceston (7249) | Launceston | $470,000 | $450 | 5.0% |
| 24th | West Moonah (7009) | Glenorchy | $495,000 | $470 | 4.9% |
| 25th | Devonport (7310) | Devonport | $395,000 | $370 | 4.9% |
Source: Cotality (formerly CoreLogic). Data reported to the period ending October 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 (6.1%). For units, New Norfolk took top spot with an average yield of 6.1%,
Houses
| Rank | Suburb (Postcode) | LGA | Median Price | Median Rent | Rental Yield |
|---|---|---|---|---|---|
| 1st | Gagebrook (7030) | Brighton | $382,750 | $450 | 6.1% |
| 2nd | Herdsmans Cove (7030) | Brighton | $395,000 | $450 | 5.9% |
| 3rd | Bridgewater (7030) | Brighton | $425,000 | $450 | 5.5% |
| 4th | Austins Ferry (7011) | Glenorchy | $605,000 | $640 | 5.5% |
| 5th | Risdon Vale (7016) | Clarence | $460,000 | $480 | 5.4% |
| 6th | Clarendon Vale (7019) | Clarence | $465,500 | $480 | 5.4% |
| 7th | Chigwell (7011) | Glenorchy | $539,250 | $525 | 5.1% |
| 8th | Goodwood (7010) | Glenorchy | $565,093 | $545 | 5.0% |
| 9th | New Norfolk (7140) | Derwent Valley | $475,000 | $450 | 4.9% |
| 10th | Claremont (7011) | Glenorchy | $560,000 | $530 | 4.9% |
| 11th | Midway Point (7171) | Sorell | $625,000 | $590 | 4.9% |
| 12th | Primrose Sands (7173) | Sorell | $480,000 | $450 | 4.9% |
| 13th | Warrane (7018) | Clarence | $563,500 | $525 | 4.8% |
| 14th | Glenorchy (7010) | Glenorchy | $595,000 | $550 | 4.8% |
| 15th | Mornington (7018) | Clarence | $610,000 | $550 | 4.7% |
| 16th | Lutana (7009) | Glenorchy | $635,000 | $560 | 4.6% |
| 17th | Moonah (7009) | Glenorchy | $645,000 | $560 | 4.5% |
| 18th | Montrose (7010) | Glenorchy | $629,000 | $545 | 4.5% |
| 19th | Rokeby (7019) | Clarence | $578,000 | $500 | 4.5% |
| 20th | Rosetta (7010) | Glenorchy | $650,000 | $550 | 4.4% |
| 21st | Berriedale (7011) | Glenorchy | $600,000 | $500 | 4.3% |
| 22nd | Sorell (7172) | Sorell | $680,000 | $560 | 4.3% |
| 23rd | Lenah Valley (7008) | Hobart | $780,700 | $640 | 4.3% |
| 24th | Oakdowns (7019) | Clarence | $712,500 | $580 | 4.2% |
| 25th | Kingston (7050) | Kingborough | $745,000 | $605 | 4.2% |
Source: Cotality (formerly CoreLogic). Data reported to the period ending October 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 | $410,000 | $478 | 6.1% |
| 2nd | New Town (7008) | Hobart | $466,500 | $500 | 5.6% |
| 3rd | Moonah (7009) | Glenorchy | $458,500 | $490 | 5.6% |
| 4th | Glenorchy (7010) | Glenorchy | $459,050 | $480 | 5.4% |
| 5th | Claremont (7011) | Glenorchy | $445,000 | $460 | 5.4% |
| 6th | Warrane (7018) | Clarence | $545,000 | $550 | 5.2% |
| 7th | Rokeby (7019) | Clarence | $522,675 | $518 | 5.2% |
| 8th | Brighton (7030) | Brighton | $470,000 | $450 | 5.0% |
| 9th | West Moonah (7009) | Glenorchy | $495,000 | $470 | 4.9% |
| 10th | South Hobart (7004) | Hobart | $577,500 | $535 | 4.8% |
| 11th | Sorell (7172) | Sorell | $515,000 | $470 | 4.7% |
| 12th | Mount Nelson (7007) | Hobart | $490,000 | $445 | 4.7% |
| 13th | Oakdowns (7019) | Clarence | $595,000 | $538 | 4.7% |
| 14th | Mount Stuart (7000) | Hobart | $500,000 | $450 | 4.7% |
| 15th | Lindisfarne (7015) | Clarence | $566,000 | $505 | 4.6% |
| 16th | Kingston (7050) | Kingborough | $581,000 | $510 | 4.6% |
| 17th | Lenah Valley (7008) | Hobart | $565,000 | $485 | 4.5% |
| 18th | Howrah (7018) | Clarence | $600,000 | $515 | 4.5% |
| 19th | Dynnyrne (7005) | Hobart | $589,000 | $500 | 4.4% |
| 20th | Bellerive (7018) | Clarence | $602,000 | $500 | 4.3% |
| 21st | Blackmans Bay (7052) | Kingborough | $620,000 | $500 | 4.2% |
| 22nd | Sandy Bay (7005) | Hobart | $650,000 | $520 | 4.2% |
| 23rd | North Hobart (7000) | Hobart | $800,000 | $620 | 4.0% |
| 24th | Battery Point (7004) | Hobart | $775,000 | $600 | 4.0% |
| 25th | Hobart City (7000) | Hobart | $890,000 | $630 | 3.7% |
Source: Cotality (formerly CoreLogic). Data reported to the period ending October 2025. Median values account for sales transactions over 12 months.
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