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Morwell vs Ararat vs Shepparton — which is best for yield?

Same eight metrics, scored against the same benchmark, ranked against a $500kbudget. Look for where one suburb is materially ahead — that's the dimension that should sway your call.

  1. Morwell

    VIC · 3840
    56Average
    Median
    $314k
    5y growth
    11.9%/yr
    GrowthStable entry point

  2. Ararat

    VIC · 3377
    54Average
    Median
    $330k
    5y growth
    8.9%/yr
    BalancedStable entry point

  3. Shepparton

    VIC · 3630
    52Average
    Median
    $480k
    5y growth
    11.2%/yr
    GrowthStable but fully priced

Metric breakdown

Each row scores 0–100 against a fixed benchmark. The leader on each row is highlighted.

Metric · weight
Morwell
Ararat
Shepparton
Capital growth (5y)
weight 22%
10011.9%/yr
898.9%/yr
10011.2%/yr
Rental yield
weight 13%
713.6%
793.9%
592.9%
Rental demand
weight 10%
402.4%
402.4%
402.4%
Population growth
weight 12%
787.8%
787.8%
787.8%
Income growth
weight 12%
5213.0%
5213.0%
5213.0%
Construction pipeline
weight 15%
0–
0–
0–
Affordability
weight 8%
3737% under cap
3434% under cap
44% under cap
Supply tightening
weight 8%
25+5.0% YoY
25+5.0% YoY
25+5.0% YoY

Winner per dimension

Where each suburb leads the field, with the count of dimensions won.

  1. Morwell

    1/8
    • Affordability

  2. Ararat

    1/8
    • Rental yield

  3. Shepparton

    0/8

    No outright lead on any single dimension.

Why Morwell

Stable entry point

11.9%/yr capital growth, population +7.8% (5y).

Drivers
  • Capital growth11.9%/yr
  • Population growth+7.8% (5y)
  • Rental yield3.6%
Risks
  • No major construction project in this state

Construction ·Suburban Rail Loop East — Glen Waverley116.0 kmConstruction · 2035

Why Ararat

Stable entry point

8.9%/yr capital growth, 3.9% gross yield.

Drivers
  • Capital growth8.9%/yr
  • Rental yield3.9%
  • Population growth+7.8% (5y)
Risks
  • No major construction project in this state

Construction ·Melbourne Airport Rail — Sunshine Hub176.5 kmApproved · 2033

Why Shepparton

Stable but fully priced

11.2%/yr capital growth, population +7.8% (5y).

Drivers
  • Capital growth11.2%/yr
  • Population growth+7.8% (5y)
Risks
  • At top of budget (96% of cap)
  • No major construction project in this state

Construction ·North East Link — Bulleen156.9 kmConstruction · 2028