Lakes Entrance vs Long Gully

The median house price is $540K in Lakes Entrance and $550K in Long Gully, so Lakes Entrance is the cheaper entry point, with Long Gully houses about 2% dearer.

For units, Lakes Entrance sits at a median of $430K against $480K in Long Gully, which makes Lakes Entrance the more affordable unit market and Long Gully the pricier one.

Over the past year house prices moved +4.4% in Lakes Entrance and +13.2% in Long Gully, so recent momentum favours Long Gully, although both suburbs recorded growth.

Looking back three years, Lakes Entrance houses are +0.8% and Long Gully houses +36.2%, so Long Gully has compounded faster than Lakes Entrance over the longer window.

Rental vacancy is 1.1% in Long Gully and 1.4% in Lakes Entrance, so landlords in Long Gully face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Lakes Entrance is the bigger suburb, with a population of 5,145 against 3,420, larger than Long Gully; a larger suburb usually means a deeper pool of buyers and tenants.

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