Carnegie vs Wonga Park
Property investment comparison - Carnegie, VIC 3163 vs Wonga Park, VIC 3115
Head-to-head across core investment metrics: Carnegie wins 2, Wonga Park wins 3. The better choice depends on whether you're optimising for cash flow, growth, affordability, or liquidity, the table below highlights the winner on each metric.
| Metric | Carnegie | Wonga Park |
|---|---|---|
| Median house price | $1.7M | $1.6M |
| Median unit price | $640K | - |
| Gross rental yield (houses) | 2.86% | 2.92% |
| Gross rental yield (units) | 4.89% | 2.54% |
| 1-year house growth | +1.0% | +9.1%estimate |
| 3-year house growth | +0.1% | - |
| Vacancy rate | 2.0% | 5.0% |
| Population | 17,909 | 3,843 |
Carnegie vs Wonga Park: what the numbers say
The median house price is $1.7M in Carnegie and $1.6M in Wonga Park, so Wonga Park is the cheaper entry point, with Carnegie houses about 1% dearer.
On cash flow, Wonga Park leads: houses there return a gross rental yield of 2.92%, compared with 2.86% in Carnegie, a gap of 0.06 percentage points.
Over the past year house prices moved +1.0% in Carnegie and +9.1% in Wonga Park (an estimate), so recent momentum favours Wonga Park, although both suburbs recorded growth.
Rental vacancy is 2.0% in Carnegie and 5.0% in Wonga Park, so landlords in Carnegie face less competition for tenants.
Carnegie is the bigger suburb, with a population of 17,909 against 3,843, roughly 4.7 times the size of Wonga Park; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Wonga Park for rental income, Wonga Park for a lower purchase price, Wonga Park for recent price momentum, Carnegie for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.
Keep exploring
- National investment guide - top suburbs across every metric
- Take the suburb finder quiz - 5 questions to match your goals
- How our investment score works
- Property investment glossary - every term defined
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