Eureka vs Irrewillipe
Property investment comparison - Eureka, VIC 3350 vs Irrewillipe, VIC 3249
Head-to-head across core investment metrics: Eureka wins 1, Irrewillipe 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 | Eureka | Irrewillipe |
|---|---|---|
| Median house price | $500K | $495K |
| Median unit price | $455K | $470K |
| Gross rental yield (houses) | 4.00% | 4.72% |
| Gross rental yield (units) | 4.51% | 5.17% |
| 1-year house growth | +15.3%estimate | - |
| 3-year house growth | - | - |
| Vacancy rate | 1.2% | 1.0% |
| Population | 633 | 100 |
Eureka vs Irrewillipe: what the numbers say
The median house price is $500K in Eureka and $495K in Irrewillipe, so Irrewillipe is the cheaper entry point, with Eureka houses about 1% dearer.
For units, Eureka sits at a median of $455K against $470K in Irrewillipe, which makes Eureka the more affordable unit market and Irrewillipe the pricier one.
On cash flow, Irrewillipe leads: houses there return a gross rental yield of 4.72%, compared with 4.00% in Eureka, a gap of 0.72 percentage points.
Rental vacancy is 1.0% in Irrewillipe and 1.2% in Eureka, so landlords in Irrewillipe face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Eureka is the bigger suburb, with a population of 633 against 100, roughly 6 times the size of Irrewillipe; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Irrewillipe for rental income, Irrewillipe for a lower purchase price, Irrewillipe 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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