New Gisborne vs Tootgarook
Property investment comparison - New Gisborne, VIC 3438 vs Tootgarook, VIC 3941
Head-to-head across core investment metrics: New Gisborne wins 3, Tootgarook 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 | New Gisborne | Tootgarook |
|---|---|---|
| Median house price | $880K | $885K |
| Median unit price | - | - |
| Gross rental yield (houses) | 3.84% | 3.44% |
| Gross rental yield (units) | - | 4.80% |
| 1-year house growth | +0.5% | -0.7%estimate |
| 3-year house growth | +3.6% | - |
| Vacancy rate | 3.3% | 1.5% |
| Population | 2,509 | 3,178 |
New Gisborne vs Tootgarook: what the numbers say
The median house price is $880K in New Gisborne and $885K in Tootgarook, so New Gisborne is the cheaper entry point, with Tootgarook houses about 1% dearer.
On cash flow, New Gisborne leads: houses there return a gross rental yield of 3.84%, compared with 3.44% in Tootgarook, a gap of 0.40 percentage points.
Over the past year house prices moved +0.5% in New Gisborne and -0.7% in Tootgarook (an estimate), so recent momentum favours New Gisborne, while Tootgarook went backwards.
Rental vacancy is 1.5% in Tootgarook and 3.3% in New Gisborne, so landlords in Tootgarook face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Tootgarook is the bigger suburb, with a population of 3,178 against 2,509, larger than New Gisborne; a larger suburb usually means a deeper pool of buyers and tenants.
In short: New Gisborne for rental income, New Gisborne for a lower purchase price, New Gisborne for recent price momentum, Tootgarook 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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