Eatons Hill vs Varsity Lakes

The median house price is $1.4M in Eatons Hill and $1.4M in Varsity Lakes, so Varsity Lakes is the cheaper entry point, with Eatons Hill houses about 1% dearer.

For units, Eatons Hill sits at a median of $990K against $920K in Varsity Lakes, which makes Varsity Lakes the more affordable unit market and Eatons Hill the pricier one.

On cash flow, Varsity Lakes leads: houses there return a gross rental yield of 3.88%, compared with 3.29% in Eatons Hill, a gap of 0.59 percentage points.

Over the past year house prices moved +14.7% in Eatons Hill and +13.0% in Varsity Lakes, so recent momentum favours Eatons Hill, although both suburbs recorded growth.

Looking back three years, Eatons Hill houses are +47.4% and Varsity Lakes houses +41.3%, so Eatons Hill has compounded faster than Varsity Lakes over the longer window.

Rental vacancy is 0.3% in Eatons Hill and 0.6% in Varsity Lakes, so landlords in Eatons Hill face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Varsity Lakes is the bigger suburb, with a population of 16,493 against 7,822, roughly 2.1 times the size of Eatons Hill; a larger suburb usually means a deeper pool of buyers and tenants.

In short: Varsity Lakes for rental income, Varsity Lakes for a lower purchase price, Eatons Hill for recent price momentum, Eatons Hill for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.