Bogangar vs Ultimo

The median house price is $1.8M in Bogangar and $1.7M in Ultimo, so Ultimo is the cheaper entry point.

For units, Bogangar sits at a median of $1.1M against $705K in Ultimo, which makes Ultimo the more affordable unit market and Bogangar the pricier one.

On cash flow, Bogangar leads: houses there return a gross rental yield of 3.27%, compared with 3.17% in Ultimo, a gap of 0.10 percentage points.

Over the past year house prices moved +8.6% in Bogangar and -8.9% in Ultimo (an estimate), so recent momentum favours Bogangar, while Ultimo went backwards.

Rental vacancy is 1.6% in Ultimo and 1.6% in Bogangar, so landlords in Ultimo face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Ultimo is the bigger suburb, with a population of 7,410 against 3,313, roughly 2.2 times the size of Bogangar; a larger suburb usually means a deeper pool of buyers and tenants.

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