Grays Point vs Illawong
Property investment comparison - Grays Point, NSW 2232 vs Illawong, NSW 2234
Head-to-head across core investment metrics: Grays Point wins 1, Illawong 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 | Grays Point | Illawong |
|---|---|---|
| Median house price | $2.0M | $2.0M |
| Median unit price | - | $1.2M |
| Gross rental yield (houses) | - | 3.10% |
| Gross rental yield (units) | 2.39% | - |
| 1-year house growth | +1.8% | +7.8% |
| 3-year house growth | +5.5% | +20.3% |
| Vacancy rate | 0.2% | 1.8% |
| Population | 3,034 | 7,427 |
Grays Point vs Illawong: what the numbers say
Houses cost about the same in both suburbs: the median house price is $2.0M in Grays Point and $2.0M in Illawong.
Over the past year house prices moved +1.8% in Grays Point and +7.8% in Illawong, so recent momentum favours Illawong, although both suburbs recorded growth.
Looking back three years, Grays Point houses are +5.5% and Illawong houses +20.3%, so Illawong has compounded faster than Grays Point over the longer window.
Rental vacancy is 0.2% in Grays Point and 1.8% in Illawong, so landlords in Grays Point face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Illawong is the bigger suburb, with a population of 7,427 against 3,034, roughly 2.4 times the size of Grays Point; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Illawong for recent price momentum, Grays Point 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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