Millbank vs Slade Point

Houses cost about the same in both suburbs: the median house price is $630K in Millbank and $630K in Slade Point.

On cash flow, Slade Point leads: houses there return a gross rental yield of 5.62%, compared with 4.88% in Millbank, a gap of 0.74 percentage points.

Over the past year house prices moved +16.4% in Millbank and +3.8% in Slade Point, so recent momentum favours Millbank, although both suburbs recorded growth.

Looking back three years, Millbank houses are +67.3% and Slade Point houses +65.5%, so Millbank has compounded faster than Slade Point over the longer window.

Rental vacancy is 1.3% in Slade Point and 1.9% in Millbank, so landlords in Slade Point face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Slade Point is the bigger suburb, with a population of 3,450 against 2,499, larger than Millbank; a larger suburb usually means a deeper pool of buyers and tenants.

In short: Slade Point for rental income, Millbank for recent price momentum, Slade Point for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.