Happy Valley vs Sawmill Settlement
Property investment comparison - Happy Valley, VIC 3549 vs Sawmill Settlement, VIC 3723
Head-to-head across core investment metrics: Happy Valley wins 1, Sawmill Settlement 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 | Happy Valley | Sawmill Settlement |
|---|---|---|
| Median house price | $510K | $510K |
| Median unit price | - | $485K |
| Gross rental yield (houses) | 4.45% | 5.10% |
| Gross rental yield (units) | - | 6.62% |
| 1-year house growth | - | +1.9% |
| 3-year house growth | - | -0.8% |
| Vacancy rate | 0.1% | 1.7% |
| Population | 162 | 86 |
Happy Valley vs Sawmill Settlement: what the numbers say
Houses cost about the same in both suburbs: the median house price is $510K in Happy Valley and $510K in Sawmill Settlement.
On cash flow, Sawmill Settlement leads: houses there return a gross rental yield of 5.10%, compared with 4.45% in Happy Valley, a gap of 0.65 percentage points.
Rental vacancy is 0.1% in Happy Valley and 1.7% in Sawmill Settlement, so landlords in Happy Valley face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Happy Valley is the bigger suburb, with a population of 162 against 86, larger than Sawmill Settlement; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Sawmill Settlement for rental income, Happy Valley for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.
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Sawmill Settlement, VIC 3723
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