Deer Park vs Lake Gardens
Property investment comparison - Deer Park, VIC 3023 vs Lake Gardens, VIC 3355
Head-to-head across core investment metrics: Deer Park wins 3, Lake Gardens wins 1. 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 | Deer Park | Lake Gardens |
|---|---|---|
| Median house price | $710K | $710K |
| Median unit price | $570K | - |
| Gross rental yield (houses) | 3.75% | 3.64% |
| Gross rental yield (units) | 4.36% | 2.51% |
| 1-year house growth | +6.4%estimate | +8.1%estimate |
| 3-year house growth | - | - |
| Vacancy rate | 1.6% | 2.2% |
| Population | 18,145 | 1,801 |
Deer Park vs Lake Gardens: what the numbers say
Houses cost about the same in both suburbs: the median house price is $710K in Deer Park and $710K in Lake Gardens.
On cash flow, Deer Park leads: houses there return a gross rental yield of 3.75%, compared with 3.64% in Lake Gardens, a gap of 0.11 percentage points.
Over the past year house prices moved +6.4% in Deer Park (an estimate) and +8.1% in Lake Gardens (an estimate), so recent momentum favours Lake Gardens, although both suburbs recorded growth.
Rental vacancy is 1.6% in Deer Park and 2.2% in Lake Gardens, so landlords in Deer Park face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Deer Park is the bigger suburb, with a population of 18,145 against 1,801, roughly 10 times the size of Lake Gardens; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Deer Park for rental income, Lake Gardens for recent price momentum, Deer Park 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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