Glen Waverley Tops List as Suburb With Highest Rental Yield for Investors

Glen Waverley has emerged as the leading suburb for rental yield in the region, according to the latest numbers from property research firm CoreLogic released this week. The figures show median gross rental yields in Glen Waverley hitting 4.1% for the June quarter, placing the suburb ahead of other area contenders for investor returns.

These results land at a critical moment for property buyers who are watching the local rental market tighten and interest rates remain unpredictable. The search for reliable investment income is at the top of many portfolios, especially as pressure builds on renters across the city and vacancy rates scrape record lows. With tenants struggling to find homes near Glen Waverley Secondary College and transport hubs, investor interest has sharpened.

Hotspots and Investor Magnetism

Strong demand for rental properties stretches from the bustling Kingsway dining precinct through to apartment blocks on Myrtle Street and townhouses near The Glen Shopping Centre. Several letting agents have seen waitlists grow for townhomes within walking distance of Glen Waverley train station, with students and young professionals especially keen on close access to Monash Aquatic & Recreation Centre and Glen Waverley Library.

Data from CoreLogic for June 2026 pegs Glen Waverley’s median rent for a two-bedroom apartment at $570 per week. Median property prices, meanwhile, hovered around $720,000 for units, according to listings on Ray White Glen Waverley as of the end of June. The combination of high tenant demand and relatively tight new stock has squeezed yields upward, giving property investors a rare sweet spot in the local market.

What Investors Should Know Next

With Glen Waverley posting the highest rental yield in the area, agents expect buyers to double down on their search over the months ahead. Industry sources suggest a steady influx of investor inquiries at local agencies including Ray White and Barry Plant Glen Waverley. For newcomers, experts recommend focusing on properties near established amenities like Glen Waverley Primary School and the Burwood Highway tram link to maximise tenancy appeal.

Despite strong rental yields, investors are being advised to factor in stamp duty changes flagged by Monash Council for later this year, which could impact calculations on new purchases. But with rents showing no sign of easing and infrastructure upgrades continuing around Springvale Road, Glen Waverley’s investor hotspot status looks set to hold.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.