Narre Warren vs Waurn Ponds
Property investment comparison - Narre Warren, VIC 3805 vs Waurn Ponds, VIC 3216
Head-to-head across core investment metrics: Narre Warren wins 3, Waurn Ponds wins 0. 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 | Narre Warren | Waurn Ponds |
|---|---|---|
| Median house price | $810K | $810K |
| Median unit price | $620K | - |
| Gross rental yield (houses) | - | 3.80% |
| Gross rental yield (units) | 4.56% | - |
| 1-year house growth | +6.6% | +5.4% |
| 3-year house growth | +11.4% | -4.4% |
| Vacancy rate | 1.1% | 3.7% |
| Population | 27,689 | 4,956 |
Narre Warren vs Waurn Ponds: what the numbers say
Houses cost about the same in both suburbs: the median house price is $810K in Narre Warren and $810K in Waurn Ponds.
Over the past year house prices moved +6.6% in Narre Warren and +5.4% in Waurn Ponds, so recent momentum favours Narre Warren, although both suburbs recorded growth.
Looking back three years, Narre Warren houses are +11.4% and Waurn Ponds houses -4.4%, so Narre Warren has compounded faster than Waurn Ponds over the longer window.
Rental vacancy is 1.1% in Narre Warren and 3.7% in Waurn Ponds, so landlords in Narre Warren face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Narre Warren is the bigger suburb, with a population of 27,689 against 4,956, roughly 6 times the size of Waurn Ponds; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Narre Warren for recent price momentum, Narre Warren 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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