A Dalkeith home is leading the rental pack by charging a mindboggling $3750 a week, but while it is an astonishing income for the owner, it is a poor rental yield.
The four-bedroom Hobbs Avenue home will cost its next tenant close to $200,000 a year in rent, plus a further $15,000 for the bond.
Plenty of property watchers will no doubt assume the owner is reeling in the profits on the luxurious home, which has a solar-heated pool, a full-sized tennis court, and an al fresco kitchen complete with a wine fridge and teppanyaki grill.
But given the home recently cost its owners $8.3 million to buy, the rental yield is actually low.
The yield is just 2.3 per cent, which is about half of Perth’s median rental yield of 4.5 per cent.
But there is no need to get the violins out for the owner. While all luxury properties tend to have relatively low yields, they excel in capital gains.
The percentage increase in this home’s resale value will no doubt far exceed the Perth median.
The newly advertised lease for the home is for at least 12 months, and the home comes unfurnished, but with some fridges.
The massive family and living area makes clever use of space, using glass stacking doors and bi-folds to create defined zones or to open up the centre of the home.
A massive standalone pool house or gym is so big it has its own solar power system.
The home’s exquisite design and finish saw it awarded the HIA Australia Luxury Renovation of the Year award in 2012.
But perhaps the home’s most alluring quality, addressed in the the advert, is that there is only one traffic light on the way to the city.