Alfredton vs Underbool
Property investment comparison - Alfredton, VIC 3350 vs Underbool, VIC 3509
Head-to-head across core investment metrics: Alfredton wins 1, Underbool wins 2. The better choice depends on whether you're optimising for cash flow, growth, affordability, or liquidity, the table below highlights the winner on each metric.
| Metric | Alfredton | Underbool |
|---|---|---|
| Median house price | $670K | - |
| Median unit price | $420K | $330K |
| Gross rental yield (houses) | 3.75% | - |
| Gross rental yield (units) | 4.74% | - |
| 1-year house growth | +11.1%estimate | +20.5% |
| 3-year house growth | - | +40.2% |
| Vacancy rate | 1.9% | 7.6% |
| Population | 11,822 | 215 |
Alfredton vs Underbool: what the numbers say
For units, Alfredton sits at a median of $420K against $330K in Underbool, which makes Underbool the more affordable unit market and Alfredton the pricier one.
Over the past year house prices moved +11.1% in Alfredton (an estimate) and +20.5% in Underbool, so recent momentum favours Underbool, although both suburbs recorded growth.
Rental vacancy is 1.9% in Alfredton and 7.6% in Underbool, so landlords in Alfredton face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Alfredton is the bigger suburb, with a population of 11,822 against 215, roughly 55 times the size of Underbool; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Underbool for recent price momentum, Alfredton for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.
Keep exploring
- National investment guide - top suburbs across every metric
- Take the suburb finder quiz - 5 questions to match your goals
- How our investment score works
- Property investment glossary - every term defined
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