Mount Elphinstone vs South Lake
Property investment comparison - Mount Elphinstone, WA 6330 vs South Lake, WA 6164
Head-to-head across core investment metrics: Mount Elphinstone wins 3, South Lake wins 1. 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 | Mount Elphinstone | South Lake |
|---|---|---|
| Median house price | $905K | $910K |
| Median unit price | $270K | - |
| Gross rental yield (houses) | 4.67% | 4.20% |
| Gross rental yield (units) | 10.54% | 4.89% |
| 1-year house growth | - | +20.5% |
| 3-year house growth | - | +73.5% |
| Vacancy rate | 3.3% | 1.0% |
| Population | 82 | 5,831 |
Mount Elphinstone vs South Lake: what the numbers say
The median house price is $905K in Mount Elphinstone and $910K in South Lake, so Mount Elphinstone is the cheaper entry point, with South Lake houses about 1% dearer.
On cash flow, Mount Elphinstone leads: houses there return a gross rental yield of 4.67%, compared with 4.20% in South Lake, a gap of 0.47 percentage points.
Rental vacancy is 1.0% in South Lake and 3.3% in Mount Elphinstone, so landlords in South Lake face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
South Lake is the bigger suburb, with a population of 5,831 against 82, roughly 71 times the size of Mount Elphinstone; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Mount Elphinstone for rental income, Mount Elphinstone for a lower purchase price, South Lake for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.
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Mount Elphinstone, WA 6330
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