Alfred Cove vs Wungong

For units, Alfred Cove sits at a median of $740K against $485K in Wungong, which makes Wungong the more affordable unit market and Alfred Cove the pricier one.

On cash flow, Alfred Cove leads: houses there return a gross rental yield of 3.10%, compared with 1.97% in Wungong, a gap of 1.13 percentage points.

Over the past year house prices moved +11.9% in Alfred Cove and +21.0% in Wungong, so recent momentum favours Wungong, although both suburbs recorded growth.

Looking back three years, Alfred Cove houses are +59.5% and Wungong houses +80.0%, so Wungong has compounded faster than Alfred Cove over the longer window.

Rental vacancy is 1.1% in Alfred Cove and 4.6% in Wungong, so landlords in Alfred Cove face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Alfred Cove is the bigger suburb, with a population of 2,830 against 370, roughly 8 times the size of Wungong; a larger suburb usually means a deeper pool of buyers and tenants.

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