Croydon North vs Mulgrave

Houses cost about the same in both suburbs: the median house price is $1.1M in Croydon North and $1.1M in Mulgrave.

For units, Croydon North sits at a median of $715K against $850K in Mulgrave, which makes Croydon North the more affordable unit market and Mulgrave the pricier one.

On cash flow, Croydon North leads: houses there return a gross rental yield of 3.57%, compared with 3.14% in Mulgrave, a gap of 0.43 percentage points.

Over the past year house prices moved +0.8% in Croydon North (an estimate) and +2.3% in Mulgrave, so recent momentum favours Mulgrave, although both suburbs recorded growth.

Rental vacancy is 1.6% in Croydon North and 1.9% in Mulgrave, so landlords in Croydon North face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Mulgrave is the bigger suburb, with a population of 19,889 against 8,092, roughly 2.5 times the size of Croydon North; a larger suburb usually means a deeper pool of buyers and tenants.

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