Binningup vs Bulgarra

Houses cost about the same in both suburbs: the median house price is $700K in Binningup and $700K in Bulgarra.

For units, Binningup sits at a median of $85K against $350K in Bulgarra, which makes Binningup the more affordable unit market and Bulgarra the pricier one.

On cash flow, Bulgarra leads: houses there return a gross rental yield of 9.35%, compared with 5.01% in Binningup, a gap of 4.34 percentage points.

Over the past year house prices moved +24.1% in Binningup (an estimate) and +21.4% in Bulgarra (an estimate), so recent momentum favours Binningup, although both suburbs recorded growth.

Rental vacancy is 1.0% in Bulgarra and 1.2% in Binningup, so landlords in Bulgarra face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Bulgarra is the bigger suburb, with a population of 2,990 against 1,296, roughly 2.3 times the size of Binningup; a larger suburb usually means a deeper pool of buyers and tenants.

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