Mornington vs Perth

The median house price is $705K in Mornington and $715K in Perth, so Mornington is the cheaper entry point, with Perth houses about 1% dearer.

On cash flow, Mornington leads: houses there return a gross rental yield of 4.40%, compared with 4.30% in Perth, a gap of 0.10 percentage points.

Over the past year house prices moved +16.7% in Mornington and +19.2% in Perth, so recent momentum favours Perth, although both suburbs recorded growth.

Looking back three years, Mornington houses are +17.8% and Perth houses +15.1%, so Mornington has compounded faster than Perth over the longer window.

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

Perth is the bigger suburb, with a population of 3,472 against 2,469, larger than Mornington; a larger suburb usually means a deeper pool of buyers and tenants.

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