Deepdene vs Paraparap
Property investment comparison - Deepdene, VIC 3103 vs Paraparap, VIC 3240
Head-to-head across core investment metrics: Deepdene wins 1, Paraparap 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 | Deepdene | Paraparap |
|---|---|---|
| Median house price | $3.3M | $3.2M |
| Median unit price | $970K | $780K |
| Gross rental yield (houses) | 1.90% | - |
| Gross rental yield (units) | 3.25% | 3.96% |
| 1-year house growth | -11.9%estimate | - |
| 3-year house growth | - | - |
| Vacancy rate | 1.9% | 6.4% |
| Population | 2,101 | 167 |
Deepdene vs Paraparap: what the numbers say
The median house price is $3.3M in Deepdene and $3.2M in Paraparap, so Paraparap is the cheaper entry point, with Deepdene houses about 3% dearer.
For units, Deepdene sits at a median of $970K against $780K in Paraparap, which makes Paraparap the more affordable unit market and Deepdene the pricier one.
Rental vacancy is 1.9% in Deepdene and 6.4% in Paraparap, so landlords in Deepdene face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Deepdene is the bigger suburb, with a population of 2,101 against 167, roughly 13 times the size of Paraparap; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Paraparap for a lower purchase price, Deepdene 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
Compare any 2-4 Australian suburbs
Build your own multi-suburb comparison with the full interactive tool.
Open interactive comparison