Narraweena vs Surry Hills
Property investment comparison - Narraweena, NSW 2099 vs Surry Hills, NSW 2010
Head-to-head across core investment metrics: Narraweena wins 1, Surry Hills wins 4. 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 | Narraweena | Surry Hills |
|---|---|---|
| Median house price | $2.5M | $2.5M |
| Median unit price | - | $860K |
| Gross rental yield (houses) | 2.54% | 2.75% |
| Gross rental yield (units) | 3.86% | 4.80% |
| 1-year house growth | +3.2%estimate | +4.2% |
| 3-year house growth | - | +5.7% |
| Vacancy rate | 0.8% | 1.5% |
| Population | 6,971 | 15,828 |
Narraweena vs Surry Hills: what the numbers say
The median house price is $2.5M in Narraweena and $2.5M in Surry Hills, so Surry Hills is the cheaper entry point.
On cash flow, Surry Hills leads: houses there return a gross rental yield of 2.75%, compared with 2.54% in Narraweena, a gap of 0.21 percentage points.
Over the past year house prices moved +3.2% in Narraweena (an estimate) and +4.2% in Surry Hills, so recent momentum favours Surry Hills, although both suburbs recorded growth.
Rental vacancy is 0.8% in Narraweena and 1.5% in Surry Hills, so landlords in Narraweena face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Surry Hills is the bigger suburb, with a population of 15,828 against 6,971, roughly 2.3 times the size of Narraweena; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Surry Hills for rental income, Surry Hills for a lower purchase price, Surry Hills for recent price momentum, Narraweena for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.
Keep exploring
- National investment guide - top suburbs across every metric
- Take the suburb finder quiz - 5 questions to match your goals
- How our investment score works
- Property investment glossary - every term defined
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