Bonnyrigg vs North Richmond

The median house price is $1.3M in Bonnyrigg and $1.3M in North Richmond, so Bonnyrigg is the cheaper entry point.

For units, Bonnyrigg sits at a median of $630K against $770K in North Richmond, which makes Bonnyrigg the more affordable unit market and North Richmond the pricier one.

On cash flow, North Richmond leads: houses there return a gross rental yield of 3.00%, compared with 2.91% in Bonnyrigg, a gap of 0.09 percentage points.

Over the past year house prices moved +10.6% in Bonnyrigg and +13.5% in North Richmond, so recent momentum favours North Richmond, although both suburbs recorded growth.

Looking back three years, Bonnyrigg houses are +39.2% and North Richmond houses +25.3%, so Bonnyrigg has compounded faster than North Richmond over the longer window.

Rental vacancy is 0.9% in Bonnyrigg and 1.0% in North Richmond, so landlords in Bonnyrigg face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Bonnyrigg is the bigger suburb, with a population of 9,785 against 6,358, larger than North Richmond; a larger suburb usually means a deeper pool of buyers and tenants.

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