Charlestown vs Currarong

Houses cost about the same in both suburbs: the median house price is $1.1M in Charlestown and $1.1M in Currarong.

For units, Charlestown sits at a median of $730K against $625K in Currarong, which makes Currarong the more affordable unit market and Charlestown the pricier one.

On cash flow, Charlestown leads: houses there return a gross rental yield of 3.47%, compared with 2.50% in Currarong, a gap of 0.97 percentage points.

Over the past year house prices moved +14.0% in Charlestown and -6.0% in Currarong, so recent momentum favours Charlestown, while Currarong went backwards.

Looking back three years, Charlestown houses are +24.0% and Currarong houses -0.1%, so Charlestown has compounded faster than Currarong over the longer window.

Rental vacancy is 1.7% in Charlestown and 2.8% in Currarong, so landlords in Charlestown face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Charlestown is the bigger suburb, with a population of 13,601 against 479, roughly 28 times the size of Currarong; a larger suburb usually means a deeper pool of buyers and tenants.

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