Alfred Cove vs Cable Beach

For units, Alfred Cove sits at a median of $740K against $400K in Cable Beach, which makes Cable Beach the more affordable unit market and Alfred Cove the pricier one.

On cash flow, Cable Beach leads: houses there return a gross rental yield of 7.45%, compared with 3.10% in Alfred Cove, a gap of 4.35 percentage points.

Over the past year house prices moved +11.9% in Alfred Cove and +8.7% in Cable Beach, so recent momentum favours Alfred Cove, although both suburbs recorded growth.

Looking back three years, Alfred Cove houses are +59.5% and Cable Beach houses +23.4%, so Alfred Cove has compounded faster than Cable Beach over the longer window.

Rental vacancy is 0.9% in Cable Beach and 1.1% in Alfred Cove, so landlords in Cable Beach face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Cable Beach is the bigger suburb, with a population of 5,730 against 2,830, roughly 2.0 times the size of Alfred Cove; a larger suburb usually means a deeper pool of buyers and tenants.

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