Altona vs Yarraville

The median house price is $1.2M in Altona and $1.2M in Yarraville, so Altona is the cheaper entry point, with Yarraville houses about 1% dearer.

For units, Altona sits at a median of $725K against $620K in Yarraville, which makes Yarraville the more affordable unit market and Altona the pricier one.

Gross rental yield on houses is effectively level, at 3.12% in Altona and 3.10% in Yarraville, so neither suburb has a cash flow edge on houses.

Over the past year house prices moved +1.3% in Altona (an estimate) and +0.8% in Yarraville, so recent momentum favours Altona, although both suburbs recorded growth.

Rental vacancy is 0.7% in Yarraville and 1.8% in Altona, so landlords in Yarraville face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Yarraville is the bigger suburb, with a population of 15,636 against 11,490, larger than Altona; a larger suburb usually means a deeper pool of buyers and tenants.

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