Comparable prices are only one part of an investment decision. The property needs to be considered within a clear strategy, realistic cash-flow assumptions and the local rental market.
Define the role of the property
Clarify whether the priority is income, long-term growth, diversification or a future personal use. That objective shapes the locations and property types worth comparing.
Model the full holding cost
Include finance, management, owners corporation fees where relevant, insurance, maintenance, vacancy and transaction costs. Independent tax and financial advice should inform the final assumptions.
Test local demand
Review the renter profile, competing supply, employment access and the features tenants value in that specific suburb. Broad city averages can hide important street-level differences.