Coleraine vs Ouyen

The median house price is $310K in Coleraine and $290K in Ouyen, so Ouyen is the cheaper entry point, with Coleraine houses about 7% dearer.

For units, Coleraine sits at a median of $475K against $330K in Ouyen, which makes Ouyen the more affordable unit market and Coleraine the pricier one.

Gross rental yield on houses is effectively level, at 6.22% in Coleraine and 6.20% in Ouyen, so neither suburb has a cash flow edge on houses.

Looking back three years, Coleraine houses are +40.0% and Ouyen houses +53.1%, so Ouyen has compounded faster than Coleraine over the longer window.

Rental vacancy is 0.4% in Ouyen and 0.9% in Coleraine, so landlords in Ouyen face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Ouyen is the bigger suburb, with a population of 1,170 against 1,062, larger than Coleraine; a larger suburb usually means a deeper pool of buyers and tenants.

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