Lower Norton vs St Leonards
Property investment comparison - Lower Norton, VIC 3401 vs St Leonards, VIC 3223
Head-to-head across core investment metrics: Lower Norton wins 1, St Leonards 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 | Lower Norton | St Leonards |
|---|---|---|
| Median house price | $740K | $740K |
| Median unit price | $435K | $490K |
| Gross rental yield (houses) | 2.68% | 3.78% |
| Gross rental yield (units) | 4.05% | 5.12% |
| 1-year house growth | - | +2.5% |
| 3-year house growth | - | -3.0% |
| Vacancy rate | - | 1.2% |
| Population | 236 | 3,542 |
Lower Norton vs St Leonards: what the numbers say
Houses cost about the same in both suburbs: the median house price is $740K in Lower Norton and $740K in St Leonards.
For units, Lower Norton sits at a median of $435K against $490K in St Leonards, which makes Lower Norton the more affordable unit market and St Leonards the pricier one.
On cash flow, St Leonards leads: houses there return a gross rental yield of 3.78%, compared with 2.68% in Lower Norton, a gap of 1.10 percentage points.
St Leonards is the bigger suburb, with a population of 3,542 against 236, roughly 15 times the size of Lower Norton; a larger suburb usually means a deeper pool of buyers and tenants.
In short: St Leonards for rental income. 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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