Glenunga vs Kensington Park

The median house price is $1.9M in Glenunga and $1.9M in Kensington Park, so Kensington Park is the cheaper entry point, with Glenunga houses about 3% dearer.

For units, Glenunga sits at a median of $745K against $790K in Kensington Park, which makes Glenunga the more affordable unit market and Kensington Park the pricier one.

On cash flow, Glenunga leads: houses there return a gross rental yield of 2.48%, compared with 2.40% in Kensington Park, a gap of 0.08 percentage points.

Over the past year house prices moved +0.6% in Glenunga and +4.1% in Kensington Park, so recent momentum favours Kensington Park, although both suburbs recorded growth.

Looking back three years, Glenunga houses are +36.7% and Kensington Park houses +52.6%, so Kensington Park has compounded faster than Glenunga over the longer window.

Rental vacancy is 0.9% in Kensington Park and 1.4% in Glenunga, so landlords in Kensington Park face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Kensington Park is the bigger suburb, with a population of 2,627 against 2,184, larger than Glenunga; a larger suburb usually means a deeper pool of buyers and tenants.

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