Gateshead vs Penrose
Property investment comparison - Gateshead, NSW 2290 vs Penrose, NSW 2530
Head-to-head across core investment metrics: Gateshead wins 2, Penrose wins 2. 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 | Gateshead | Penrose |
|---|---|---|
| Median house price | $835K | $835K |
| Median unit price | $540K | $645K |
| Gross rental yield (houses) | 3.87% | 4.29% |
| Gross rental yield (units) | 7.12% | 5.28% |
| 1-year house growth | +11.7% | - |
| 3-year house growth | +19.2% | - |
| Vacancy rate | 0.8% | 0.5% |
| Population | 3,121 | 263 |
Gateshead vs Penrose: what the numbers say
Houses cost about the same in both suburbs: the median house price is $835K in Gateshead and $835K in Penrose.
For units, Gateshead sits at a median of $540K against $645K in Penrose, which makes Gateshead the more affordable unit market and Penrose the pricier one.
On cash flow, Penrose leads: houses there return a gross rental yield of 4.29%, compared with 3.87% in Gateshead, a gap of 0.42 percentage points.
Rental vacancy is 0.5% in Penrose and 0.8% in Gateshead, so landlords in Penrose face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Gateshead is the bigger suburb, with a population of 3,121 against 263, roughly 12 times the size of Penrose; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Penrose for rental income, Penrose 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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