Geelong West vs Keilor Downs

The median house price is $865K in Geelong West and $860K in Keilor Downs, so Keilor Downs is the cheaper entry point, with Geelong West houses about 1% dearer.

For units, Geelong West sits at a median of $565K against $630K in Keilor Downs, which makes Geelong West the more affordable unit market and Keilor Downs the pricier one.

Gross rental yield on houses is effectively level, at 3.34% in Geelong West and 3.33% in Keilor Downs, so neither suburb has a cash flow edge on houses.

Over the past year house prices moved +4.2% in Geelong West and +4.3% in Keilor Downs (an estimate), so recent momentum favours Keilor Downs, although both suburbs recorded growth.

Rental vacancy is 1.4% in Keilor Downs and 2.0% in Geelong West, so landlords in Keilor Downs face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Keilor Downs is the bigger suburb, with a population of 9,857 against 7,345, larger than Geelong West; a larger suburb usually means a deeper pool of buyers and tenants.

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