Mordialloc vs Waterways.
Comparing two suburbs with median house prices of $1,387,500 and $1,635,000. Mordialloc edges out on more headline metrics in this comparison.
Mordialloc (median $1,387,500) is roughly 15% cheaper to buy into than Waterways ($1,635,000).
On school quality, the average ICSEA across schools serving Mordialloc (1098) sits above Waterways (1077). Waterways skews owner-occupied (88%), Mordialloc runs more rental-dense (68% owner).
For buyers
Mordialloc is the lower entry point at $1,387,500 median, 15% below the other suburb. For first home buyers, that translates to a smaller deposit and lower stamp duty bill.
For investors
Mordialloc offers the higher gross rental yield (2.81% vs 1.34%), favouring cash-flow investors.
For families
Mordialloc edges out on average school ICSEA (1098 vs 1077). Waterways also has a higher family-household share (93% vs 67%), so the catchment community skews family-heavy.
Common questions
Is Mordialloc or Waterways cheaper to buy in?
Mordialloc has the lower median house price at $1,387,500, roughly 15% below Waterways ($1,635,000). The gap on units is usually similar but worth checking on the full suburb profiles.
Does Mordialloc or Waterways have better schools?
On average school ICSEA (the ACARA index that benchmarks educational advantage), Mordialloc scores 1098 vs 1077 in Waterways. ICSEA is a school-community indicator, not a quality rating, so always check NAPLAN results and catchment boundaries for the specific address you're considering.
Which suburb has higher rental yield, Mordialloc or Waterways?
Gross rental yield on houses is 2.81% in Mordialloc vs 1.34% in Waterways. Gross yield equals annual rent divided by purchase price. Net yield (after strata, rates, insurance, agent fees and maintenance) typically runs 1.5-2 percentage points lower.
The numbers behind the take
Price & Market
Rental
Lifestyle & Demographics
Risk & Hazard
Schools
Climate
Green dot = better on that metric (lower price, higher growth, higher walkability, lower risk).
Compare Mordialloc against another suburb