Millars Well vs Sunset Beach

The median house price is $685K in Millars Well and $670K in Sunset Beach, so Sunset Beach is the cheaper entry point, with Millars Well houses about 2% dearer.

For units, Millars Well sits at a median of $520K against $495K in Sunset Beach, which makes Sunset Beach the more affordable unit market and Millars Well the pricier one.

Over the past year house prices moved +23.8% in Millars Well and +19.4% in Sunset Beach, so recent momentum favours Millars Well, although both suburbs recorded growth.

Looking back three years, Millars Well houses are +47.3% and Sunset Beach houses +59.7%, so Sunset Beach has compounded faster than Millars Well over the longer window.

Rental vacancy is 0.7% in Millars Well and 1.1% in Sunset Beach, so landlords in Millars Well face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Millars Well is the bigger suburb, with a population of 2,104 against 1,558, larger than Sunset Beach; a larger suburb usually means a deeper pool of buyers and tenants.

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