Ormiston vs The Gap

Houses cost about the same in both suburbs: the median house price is $1.4M in Ormiston and $1.4M in The Gap.

For units, Ormiston sits at a median of $815K against $1.1M in The Gap, which makes Ormiston the more affordable unit market and The Gap the pricier one.

Gross rental yield on houses is effectively level, at 3.20% in Ormiston and 3.18% in The Gap, so neither suburb has a cash flow edge on houses.

Over the past year house prices moved +10.2% in Ormiston and +2.2% in The Gap, so recent momentum favours Ormiston, although both suburbs recorded growth.

Looking back three years, Ormiston houses are +27.3% and The Gap houses +34.4%, so The Gap has compounded faster than Ormiston over the longer window.

Rental vacancy is 0.5% in The Gap and 1.1% in Ormiston, so landlords in The Gap face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

The Gap is the bigger suburb, with a population of 17,318 against 6,379, roughly 2.7 times the size of Ormiston; a larger suburb usually means a deeper pool of buyers and tenants.

In short: Ormiston for recent price momentum, The Gap for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.