Kennett River vs Mulgrave
Property investment comparison - Kennett River, VIC 3234 vs Mulgrave, VIC 3170
Head-to-head across core investment metrics: Kennett River wins 1, Mulgrave 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 | Kennett River | Mulgrave |
|---|---|---|
| Median house price | $1.1M | $1.1M |
| Median unit price | $485K | $850K |
| Gross rental yield (houses) | 2.76% | 3.14% |
| Gross rental yield (units) | - | - |
| 1-year house growth | - | +2.3% |
| 3-year house growth | - | +14.7% |
| Vacancy rate | - | 1.9% |
| Population | 74 | 19,889 |
Kennett River vs Mulgrave: what the numbers say
The median house price is $1.1M in Kennett River and $1.1M in Mulgrave, so Mulgrave is the cheaper entry point, with Kennett River houses about 1% dearer.
For units, Kennett River sits at a median of $485K against $850K in Mulgrave, which makes Kennett River the more affordable unit market and Mulgrave the pricier one.
On cash flow, Mulgrave leads: houses there return a gross rental yield of 3.14%, compared with 2.76% in Kennett River, a gap of 0.38 percentage points.
Mulgrave is the bigger suburb, with a population of 19,889 against 74, roughly 269 times the size of Kennett River; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Mulgrave for rental income, Mulgrave for a lower purchase price. 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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