Morwell offers a materially higher gross yield (5.7% vs 3.3%), making it the stronger income candidate at current prices. Morwell achieves positive cashflow without negative gearing support, while Geelong requires additional tax offset or rental growth to break even. Vacancy conditions favour Morwell (1% vs 1.6%), indicating tighter rental demand relative to supply.
Research context only. Not financial advice. Both markets carry distinct risks specific to their location, employment base, and economic profile. Read the individual suburb research pages before drawing conclusions. All policy references reflect proposed changes subject to final legislation.
| Metric | Geelong VIC · #26 | Morwell VIC · #7 |
|---|---|---|
| Gross Yield | 3.3% | 5.7% |
| Vacancy Rate | 1.6% | 1% |
| Median Price | $904k | $358k |
| Weekly Rent | $575/wk | $390/wk |
| Net pre-costs pa | $-17,108 | +$1,664 |
| Cashflow | Negative | Positive |
| Rent Growth 12m | +3.8% | +5.5% |
| Price Growth 12m | +2.1% | +5.1% |
| NG Dependence | High | None |
| Discovery Status | Known | Unknown |
| Population | 270k | 14k |
| Cycle Stage | Mid | Early |
| Policy Impact | ▼ DOWNGRADED | ▲ STRONG UPGRADE |
| Signal Score | 47 / Tier 3 | 68 / Tier 1 |
Geelong at $904k reflects the Melbourne proximity premium and post-pandemic lifestyle migration run. Deakin University, Barwon Health, NDIS growth, and logistics employment anchor the economy after the Ford closure in 2016. At 3.3% gross yield, cashflow is strongly negative at standard LVR. VIC state land tax changes add holding cost pressure. Investment case relies on Melbourne-correlated capital growth rather than income.
5.7% yield is cashflow-positive at 6.5% rate and improves as rent grows at +5.5%pa. Keppel data centre catalyst is literally next door: Morwell is the primary accommodation suburb for the construction workforce. New build lots available at <$420k all-in, still NG-eligible under budget rules.
2026 median house data. Source: realestate.com.au. Data quality: imported. Verify before transacting.
Data vintage: 2026
CoreLogic SA3 Latrobe Valley Q1 2025 · SQM Research vacancy Mar 2025 · REI Victoria Q4 2024 · Latrobe Valley Authority Transition Plan 2024
Data vintage: Q1 2025
The interactive tool lets you add up to 4 suburbs for a full side-by-side breakdown with score components.
Research only. Not financial advice. Data vintage Q1 2025 (indicative estimates from public sources). Verify all metrics independently with local property managers and licensed advisers before making any investment decision. All negative gearing and budget policy references reflect proposed changes subject to final legislation. Consult a registered tax adviser for personal tax position.