Run-O-Waters vs Willow Vale

Houses cost about the same in both suburbs: the median house price is $1.4M in Run-O-Waters and $1.4M in Willow Vale.

For units, Run-O-Waters sits at a median of $560K against $685K in Willow Vale, which makes Run-O-Waters the more affordable unit market and Willow Vale the pricier one.

On cash flow, Willow Vale leads: houses there return a gross rental yield of 2.81%, compared with 2.17% in Run-O-Waters, a gap of 0.64 percentage points.

Over the past year house prices moved +5.4% in Run-O-Waters (an estimate) and +5.5% in Willow Vale, so recent momentum favours Willow Vale, although both suburbs recorded growth.

Rental vacancy is 0.8% in Run-O-Waters and 4.6% in Willow Vale, so landlords in Run-O-Waters face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Willow Vale is the bigger suburb, with a population of 826 against 605, larger than Run-O-Waters; a larger suburb usually means a deeper pool of buyers and tenants.

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