Lake Gardens vs Mickleham
Property investment comparison - Lake Gardens, VIC 3355 vs Mickleham, VIC 3064
Head-to-head across core investment metrics: Lake Gardens wins 2, Mickleham 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 | Lake Gardens | Mickleham |
|---|---|---|
| Median house price | $710K | $710K |
| Median unit price | - | $610K |
| Gross rental yield (houses) | 3.64% | 4.02% |
| Gross rental yield (units) | 2.51% | 4.19% |
| 1-year house growth | +8.1%estimate | +4.7%estimate |
| 3-year house growth | - | - |
| Vacancy rate | 2.2% | 3.8% |
| Population | 1,801 | 17,452 |
Lake Gardens vs Mickleham: what the numbers say
Houses cost about the same in both suburbs: the median house price is $710K in Lake Gardens and $710K in Mickleham.
On cash flow, Mickleham leads: houses there return a gross rental yield of 4.02%, compared with 3.64% in Lake Gardens, a gap of 0.38 percentage points.
Over the past year house prices moved +8.1% in Lake Gardens (an estimate) and +4.7% in Mickleham (an estimate), so recent momentum favours Lake Gardens, although both suburbs recorded growth.
Rental vacancy is 2.2% in Lake Gardens and 3.8% in Mickleham, so landlords in Lake Gardens face less competition for tenants.
Mickleham is the bigger suburb, with a population of 17,452 against 1,801, roughly 10 times the size of Lake Gardens; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Mickleham for rental income, Lake Gardens for recent price momentum, Lake Gardens 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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