Nunawading vs Preston

The median house price is $1.2M in Nunawading and $1.2M in Preston, so Nunawading is the cheaper entry point.

For units, Nunawading sits at a median of $810K against $625K in Preston, which makes Preston the more affordable unit market and Nunawading the pricier one.

On cash flow, Preston leads: houses there return a gross rental yield of 3.07%, compared with 2.82% in Nunawading, a gap of 0.25 percentage points.

Over the past year house prices moved +0.8% in Nunawading (an estimate) and +3.5% in Preston, so recent momentum favours Preston, although both suburbs recorded growth.

Rental vacancy is 1.0% in Nunawading and 1.2% in Preston, so landlords in Nunawading face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Preston is the bigger suburb, with a population of 33,790 against 12,413, roughly 2.7 times the size of Nunawading; a larger suburb usually means a deeper pool of buyers and tenants.

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