South Nowra vs Warilla

Houses cost about the same in both suburbs: the median house price is $900K in South Nowra and $900K in Warilla.

For units, South Nowra sits at a median of $700K against $765K in Warilla, which makes South Nowra the more affordable unit market and Warilla the pricier one.

On cash flow, Warilla leads: houses there return a gross rental yield of 3.95%, compared with 3.70% in South Nowra, a gap of 0.25 percentage points.

Over the past year house prices moved +10.8% in South Nowra and +8.1% in Warilla, so recent momentum favours South Nowra, although both suburbs recorded growth.

Looking back three years, South Nowra houses are +18.6% and Warilla houses +21.8%, so Warilla has compounded faster than South Nowra over the longer window.

Rental vacancy is 0.6% in Warilla and 1.2% in South Nowra, so landlords in Warilla face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Warilla is the bigger suburb, with a population of 6,226 against 3,165, larger than South Nowra; a larger suburb usually means a deeper pool of buyers and tenants.

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