Alexandra vs Wendouree

The median house price is $535K in Alexandra and $540K in Wendouree, so Alexandra is the cheaper entry point, with Wendouree houses about 1% dearer.

On cash flow, Alexandra leads: houses there return a gross rental yield of 4.19%, compared with 3.96% in Wendouree, a gap of 0.23 percentage points.

Over the past year house prices moved +7.9% in Alexandra and +18.4% in Wendouree, so recent momentum favours Wendouree, although both suburbs recorded growth.

Looking back three years, Alexandra houses are +7.9% and Wendouree houses +11.7%, so Wendouree has compounded faster than Alexandra over the longer window.

Rental vacancy is 0.9% in Alexandra and 1.0% in Wendouree, so landlords in Alexandra face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Wendouree is the bigger suburb, with a population of 10,376 against 2,801, roughly 3.7 times the size of Alexandra; a larger suburb usually means a deeper pool of buyers and tenants.

In short: Alexandra for rental income, Alexandra for a lower purchase price, Wendouree for recent price momentum, Alexandra for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.