Leongatha vs Mildura

The median house price is $600K in Leongatha and $595K in Mildura, so Mildura is the cheaper entry point, with Leongatha houses about 1% dearer.

For units, Leongatha sits at a median of $425K against $400K in Mildura, which makes Mildura the more affordable unit market and Leongatha the pricier one.

On cash flow, Mildura leads: houses there return a gross rental yield of 4.80%, compared with 4.41% in Leongatha, a gap of 0.39 percentage points.

Over the past year house prices moved +4.5% in Leongatha and +12.8% in Mildura, so recent momentum favours Mildura, although both suburbs recorded growth.

Looking back three years, Leongatha houses are -1.3% and Mildura houses +28.4%, so Mildura has compounded faster than Leongatha over the longer window.

Rental vacancy is 0.5% in Leongatha and 2.4% in Mildura, so landlords in Leongatha face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Mildura is the bigger suburb, with a population of 34,565 against 5,869, roughly 6 times the size of Leongatha; a larger suburb usually means a deeper pool of buyers and tenants.

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