Leonay vs Towradgi

The median house price is $1.4M in Leonay and $1.4M in Towradgi, so Leonay is the cheaper entry point.

For units, Leonay sits at a median of $1.2M against $850K in Towradgi, which makes Towradgi the more affordable unit market and Leonay the pricier one.

On cash flow, Leonay leads: houses there return a gross rental yield of 3.40%, compared with 3.00% in Towradgi, a gap of 0.40 percentage points.

Over the past year house prices moved +8.2% in Leonay and +7.5% in Towradgi (an estimate), so recent momentum favours Leonay, although both suburbs recorded growth.

Rental vacancy is 0.7% in Towradgi and 5.1% in Leonay, so landlords in Towradgi face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Towradgi is the bigger suburb, with a population of 3,241 against 2,582, larger than Leonay; a larger suburb usually means a deeper pool of buyers and tenants.

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