Morley vs Secret Harbour

Houses cost about the same in both suburbs: the median house price is $975K in Morley and $975K in Secret Harbour.

On cash flow, Morley leads: houses there return a gross rental yield of 4.15%, compared with 3.87% in Secret Harbour, a gap of 0.28 percentage points.

Over the past year house prices moved +18.1% in Morley and +18.9% in Secret Harbour, so recent momentum favours Secret Harbour, although both suburbs recorded growth.

Looking back three years, Morley houses are +66.2% and Secret Harbour houses +71.1%, so Secret Harbour has compounded faster than Morley over the longer window.

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

Morley is the bigger suburb, with a population of 22,539 against 12,474, larger than Secret Harbour; a larger suburb usually means a deeper pool of buyers and tenants.

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