Alderley vs Lamb Island

For units, Alderley sits at a median of $855K against $715K in Lamb Island, which makes Lamb Island the more affordable unit market and Alderley the pricier one.

On cash flow, Lamb Island leads: houses there return a gross rental yield of 4.80%, compared with 2.46% in Alderley, a gap of 2.34 percentage points.

Over the past year house prices moved +12.7% in Alderley and +12.0% in Lamb Island, so recent momentum favours Alderley, although both suburbs recorded growth.

Looking back three years, Alderley houses are +35.9% and Lamb Island houses +35.1%, so Alderley has compounded faster than Lamb Island over the longer window.

Rental vacancy is 0.5% in Lamb Island and 1.8% in Alderley, so landlords in Lamb Island face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Alderley is the bigger suburb, with a population of 6,748 against 504, roughly 13 times the size of Lamb Island; a larger suburb usually means a deeper pool of buyers and tenants.

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