Apollo Bay vs Longwarry North

The median house price is $800K in Apollo Bay and $805K in Longwarry North, so Apollo Bay is the cheaper entry point, with Longwarry North houses about 1% dearer.

For units, Apollo Bay sits at a median of $710K against $605K in Longwarry North, which makes Longwarry North the more affordable unit market and Apollo Bay the pricier one.

On cash flow, Apollo Bay leads: houses there return a gross rental yield of 3.33%, compared with 3.13% in Longwarry North, a gap of 0.20 percentage points.

Rental vacancy is 0.6% in Longwarry North and 1.1% in Apollo Bay, so landlords in Longwarry North face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Apollo Bay is the bigger suburb, with a population of 1,790 against 230, roughly 8 times the size of Longwarry North; a larger suburb usually means a deeper pool of buyers and tenants.

In short: Apollo Bay for rental income, Apollo Bay for a lower purchase price, Longwarry North for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.