Allenby Gardens vs Myrtle Bank

For units, Allenby Gardens sits at a median of $920K against $760K in Myrtle Bank, which makes Myrtle Bank the more affordable unit market and Allenby Gardens the pricier one.

On cash flow, Allenby Gardens leads: houses there return a gross rental yield of 3.28%, compared with 2.52% in Myrtle Bank, a gap of 0.76 percentage points.

Over the past year house prices moved +8.0% in Allenby Gardens and +11.8% in Myrtle Bank (an estimate), so recent momentum favours Myrtle Bank, although both suburbs recorded growth.

Rental vacancy is 0.3% in Allenby Gardens and 0.5% in Myrtle Bank, so landlords in Allenby Gardens face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Myrtle Bank is the bigger suburb, with a population of 3,158 against 2,045, larger than Allenby Gardens; a larger suburb usually means a deeper pool of buyers and tenants.

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