Gowanbrae vs Millbrook
Property investment comparison - Gowanbrae, VIC 3043 vs Millbrook, VIC 3352
Head-to-head across core investment metrics: Gowanbrae wins 2, Millbrook wins 1. 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 | Gowanbrae | Millbrook |
|---|---|---|
| Median house price | $1.0M | $1.0M |
| Median unit price | - | $415K |
| Gross rental yield (houses) | 3.34% | 2.53% |
| Gross rental yield (units) | 3.93% | 4.46% |
| 1-year house growth | +9.1% | - |
| 3-year house growth | +17.9% | - |
| Vacancy rate | 1.4% | 1.9% |
| Population | 2,971 | 180 |
Gowanbrae vs Millbrook: what the numbers say
Houses cost about the same in both suburbs: the median house price is $1.0M in Gowanbrae and $1.0M in Millbrook.
On cash flow, Gowanbrae leads: houses there return a gross rental yield of 3.34%, compared with 2.53% in Millbrook, a gap of 0.81 percentage points.
Rental vacancy is 1.4% in Gowanbrae and 1.9% in Millbrook, so landlords in Gowanbrae face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Gowanbrae is the bigger suburb, with a population of 2,971 against 180, roughly 17 times the size of Millbrook; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Gowanbrae for rental income, Gowanbrae 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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