Allambie Heights vs Kangaloon

The median house price is $2.8M in Allambie Heights and $2.7M in Kangaloon, so Kangaloon is the cheaper entry point, with Allambie Heights houses about 1% dearer.

For units, Allambie Heights sits at a median of $310K against $895K in Kangaloon, which makes Allambie Heights the more affordable unit market and Kangaloon the pricier one.

On cash flow, Allambie Heights leads: houses there return a gross rental yield of 2.55%, compared with 1.95% in Kangaloon, a gap of 0.60 percentage points.

Over the past year house prices moved +4.2% in Allambie Heights and -17.0% in Kangaloon, so recent momentum favours Allambie Heights, while Kangaloon went backwards.

Looking back three years, Allambie Heights houses are +17.8% and Kangaloon houses -50.0%, so Allambie Heights has compounded faster than Kangaloon over the longer window.

Rental vacancy is the same in both, at 1.9%.

Allambie Heights is the bigger suburb, with a population of 7,317 against 206, roughly 36 times the size of Kangaloon; a larger suburb usually means a deeper pool of buyers and tenants.

In short: Allambie Heights for rental income, Kangaloon for a lower purchase price, Allambie Heights for recent price momentum. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.