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RBA Glossary definition for yield

yield – The expected rate of return expressed as a percentage of the net outlay or net proceeds of an investment, not of its face value.

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Appendix A: Data Details

12 Sep 2014 RDP 2014-06
Ryan Fox and Peter Tulip
Average rental yield (rent / P). 4.2. Overvaluation as per cent of fundamental value. ... Furthermore, using advertised properties means that we weight rental yields by turnover and time on market.
https://www.rba.gov.au/publications/rdp/2014/2014-06/appendix-a.html

Estimates

12 Sep 2014 RDP 2014-06
Ryan Fox and Peter Tulip
4.2. 4.9. Average rental yield (rent / P). 4.2. 4.2. Overvaluation as per cent of fundamental value. ... Third, as can be seen in the middle panel, the rental yield trends down over our sample.
https://www.rba.gov.au/publications/rdp/2014/2014-06/estimates.html

The User Cost of Housing

12 Sep 2014 RDP 2014-06
Ryan Fox and Peter Tulip
Equation (4) is similar to the widely-used Gordon model of share price valuation, which compares the corporate earnings (or dividend) yield to the risk-free interest rate and other related ... P/P represents a measure of overvaluation, which, after
https://www.rba.gov.au/publications/rdp/2014/2014-06/the-user-cost-of-housing.html

References

12 Sep 2014 RDP 2014-06
Ryan Fox and Peter Tulip
Hardman M (2013), ‘Calculating Rental Yield Series’, Rismark Technical Paper, Rismark International.
https://www.rba.gov.au/publications/rdp/2014/2014-06/references.html