Run-O-Waters vs South Granville

The median house price is $1.4M in Run-O-Waters and $1.4M in South Granville, so South Granville is the cheaper entry point.

For units, Run-O-Waters sits at a median of $560K against $870K in South Granville, which makes Run-O-Waters the more affordable unit market and South Granville the pricier one.

On cash flow, South Granville leads: houses there return a gross rental yield of 2.90%, compared with 2.17% in Run-O-Waters, a gap of 0.73 percentage points.

Over the past year house prices moved +5.4% in Run-O-Waters (an estimate) and +2.1% in South Granville (an estimate), so recent momentum favours Run-O-Waters, although both suburbs recorded growth.

Rental vacancy is 0.4% in South Granville and 0.8% in Run-O-Waters, so landlords in South Granville face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

South Granville is the bigger suburb, with a population of 5,829 against 605, roughly 10 times the size of Run-O-Waters; a larger suburb usually means a deeper pool of buyers and tenants.

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