Blackwood vs Richmond

The median house price is $1.1M in Blackwood and $1.1M in Richmond, so Richmond is the cheaper entry point, with Blackwood houses about 1% dearer.

For units, Blackwood sits at a median of $700K against $610K in Richmond, which makes Richmond the more affordable unit market and Blackwood the pricier one.

Gross rental yield on houses is effectively level, at 3.10% in Blackwood and 3.07% in Richmond, so neither suburb has a cash flow edge on houses.

Over the past year house prices moved +7.1% in Blackwood and +12.1% in Richmond, so recent momentum favours Richmond, although both suburbs recorded growth.

Looking back three years, Blackwood houses are +39.4% and Richmond houses +50.9%, so Richmond has compounded faster than Blackwood over the longer window.

Rental vacancy is 0.1% in Richmond and 0.4% in Blackwood, so landlords in Richmond face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Blackwood is the bigger suburb, with a population of 4,266 against 3,474, larger than Richmond; a larger suburb usually means a deeper pool of buyers and tenants.

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