Hillcrest vs Preston
Property investment comparison - Hillcrest, TAS 7320 vs Preston, TAS 7315
Head-to-head across core investment metrics: Hillcrest wins 2, Preston 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 | Hillcrest | Preston |
|---|---|---|
| Median house price | $460K | $415K |
| Median unit price | $445K | - |
| Gross rental yield (houses) | 5.00% | 3.96% |
| Gross rental yield (units) | 4.03% | - |
| 1-year house growth | +11.5%estimate | +9.8% |
| 3-year house growth | - | - |
| Vacancy rate | 0.4% | 0.3% |
| Population | 1,088 | 149 |
Hillcrest vs Preston: what the numbers say
The median house price is $460K in Hillcrest and $415K in Preston, so Preston is the cheaper entry point, with Hillcrest houses about 11% dearer.
On cash flow, Hillcrest leads: houses there return a gross rental yield of 5.00%, compared with 3.96% in Preston, a gap of 1.04 percentage points.
Over the past year house prices moved +11.5% in Hillcrest (an estimate) and +9.8% in Preston, so recent momentum favours Hillcrest, although both suburbs recorded growth.
Rental vacancy is 0.3% in Preston and 0.4% in Hillcrest, so landlords in Preston face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Hillcrest is the bigger suburb, with a population of 1,088 against 149, roughly 7 times the size of Preston; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Hillcrest for rental income, Preston for a lower purchase price, Hillcrest for recent price momentum, Preston 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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