Greenslopes vs Pelican Waters

The median house price is $1.6M in Greenslopes and $1.6M in Pelican Waters, so Greenslopes is the cheaper entry point.

For units, Greenslopes sits at a median of $835K against $1.0M in Pelican Waters, which makes Greenslopes the more affordable unit market and Pelican Waters the pricier one.

On cash flow, Pelican Waters leads: houses there return a gross rental yield of 3.30%, compared with 2.78% in Greenslopes, a gap of 0.52 percentage points.

Over the past year house prices moved +14.7% in Greenslopes and +12.9% in Pelican Waters, so recent momentum favours Greenslopes, although both suburbs recorded growth.

Looking back three years, Greenslopes houses are +32.0% and Pelican Waters houses +26.0%, so Greenslopes has compounded faster than Pelican Waters over the longer window.

Rental vacancy is 1.4% in Greenslopes and 1.5% in Pelican Waters, so landlords in Greenslopes face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Greenslopes is the bigger suburb, with a population of 7,941 against 7,393, larger than Pelican Waters; a larger suburb usually means a deeper pool of buyers and tenants.

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