Henderson vs Mullaloo

The median house price is $1.5M in Henderson and $1.5M in Mullaloo, so Henderson is the cheaper entry point, with Mullaloo houses about 2% dearer.

For units, Henderson sits at a median of $790K against $1.4M in Mullaloo, which makes Henderson the more affordable unit market and Mullaloo the pricier one.

On cash flow, Mullaloo leads: houses there return a gross rental yield of 3.20%, compared with 2.82% in Henderson, a gap of 0.38 percentage points.

Over the past year house prices moved +22.0% in Henderson and +14.8% in Mullaloo, so recent momentum favours Henderson, although both suburbs recorded growth.

Rental vacancy is 0.6% in Henderson and 0.7% in Mullaloo, so landlords in Henderson face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Mullaloo is the bigger suburb, with a population of 6,190 against 36, roughly 172 times the size of Henderson; a larger suburb usually means a deeper pool of buyers and tenants.

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