Bulla vs Parkville

The median house price is $1.7M in Bulla and $1.8M in Parkville, so Bulla is the cheaper entry point, with Parkville houses about 3% dearer.

For units, Bulla sits at a median of $650K against $470K in Parkville, which makes Parkville the more affordable unit market and Bulla the pricier one.

On cash flow, Parkville leads: houses there return a gross rental yield of 3.10%, compared with 1.87% in Bulla, a gap of 1.23 percentage points.

Over the past year house prices moved -10.6% in Bulla and -2.8% in Parkville, so recent momentum favours Parkville, while Bulla went backwards.

Rental vacancy is 0.9% in Parkville and 2.6% in Bulla, so landlords in Parkville face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Parkville is the bigger suburb, with a population of 7,074 against 668, roughly 11 times the size of Bulla; a larger suburb usually means a deeper pool of buyers and tenants.

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