Essendon West vs Gooramadda
Property investment comparison - Essendon West, VIC 3040 vs Gooramadda, VIC 3685
Head-to-head across core investment metrics: Essendon West wins 1, Gooramadda wins 4. 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 | Essendon West | Gooramadda |
|---|---|---|
| Median house price | $1.5M | $1.5M |
| Median unit price | $785K | $325K |
| Gross rental yield (houses) | 3.09% | 1.93% |
| Gross rental yield (units) | 4.63% | 5.86% |
| 1-year house growth | +3.8%estimate | - |
| 3-year house growth | - | - |
| Vacancy rate | 3.1% | 0.3% |
| Population | 1,559 | 62 |
Essendon West vs Gooramadda: what the numbers say
The median house price is $1.5M in Essendon West and $1.5M in Gooramadda, so Gooramadda is the cheaper entry point.
For units, Essendon West sits at a median of $785K against $325K in Gooramadda, which makes Gooramadda the more affordable unit market and Essendon West the pricier one.
On cash flow, Essendon West leads: houses there return a gross rental yield of 3.09%, compared with 1.93% in Gooramadda, a gap of 1.16 percentage points.
Rental vacancy is 0.3% in Gooramadda and 3.1% in Essendon West, so landlords in Gooramadda face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Essendon West is the bigger suburb, with a population of 1,559 against 62, roughly 25 times the size of Gooramadda; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Essendon West for rental income, Gooramadda for a lower purchase price, Gooramadda 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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