Castletown vs Centennial Park

Houses cost about the same in both suburbs: the median house price is $650K in Castletown and $650K in Centennial Park.

On cash flow, Castletown leads: houses there return a gross rental yield of 5.00%, compared with 3.48% in Centennial Park, a gap of 1.52 percentage points.

Over the past year house prices moved +14.7% in Castletown and +15.8% in Centennial Park, so recent momentum favours Centennial Park, although both suburbs recorded growth.

Looking back three years, Castletown houses are +53.0% and Centennial Park houses +73.3%, so Centennial Park has compounded faster than Castletown over the longer window.

Rental vacancy is 0.1% in Centennial Park and 0.2% in Castletown, so landlords in Centennial Park face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Castletown is the bigger suburb, with a population of 3,968 against 689, roughly 6 times the size of Centennial Park; a larger suburb usually means a deeper pool of buyers and tenants.

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