At a cost of $150 per week, Barney Point in Gladstone and Blackall tie for the cheapest rental houses in Australia, while units in South Gladstone and Clinton were the least expensive to rent at $120 a week.

The latest CoreLogic Best of the Best report revealed where rents where lowest in Australia and Queensland came out on top.

It also looked at the suburbs which offered the best returns for investors.

The report found Ipswich houses offered some of the best rental yields in the state, with Tivoli houses generating a gross rental yield of 6.2 per cent.

The Cairns region had the best rental yields for units, with Port Douglas recording the highest gross rental yield for apartments in Australia at 9.3 per cent, followed by Manunda at 9 per cent.