Anna Bay vs Millfield

Houses cost about the same in both suburbs: the median house price is $1.1M in Anna Bay and $1.1M in Millfield.

For units, Anna Bay sits at a median of $680K against $465K in Millfield, which makes Millfield the more affordable unit market and Anna Bay the pricier one.

On cash flow, Anna Bay leads: houses there return a gross rental yield of 3.60%, compared with 2.43% in Millfield, a gap of 1.17 percentage points.

Over the past year house prices moved +6.3% in Anna Bay (an estimate) and +10.2% in Millfield (an estimate), so recent momentum favours Millfield, although both suburbs recorded growth.

Rental vacancy is 0.7% in Anna Bay and 1.3% in Millfield, so landlords in Anna Bay face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Anna Bay is the bigger suburb, with a population of 4,221 against 1,282, roughly 3.3 times the size of Millfield; a larger suburb usually means a deeper pool of buyers and tenants.

In short: Anna Bay for rental income, Millfield for recent price momentum, Anna Bay for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.