Forbes vs Parkes

The median house price is $465K in Forbes and $480K in Parkes, so Forbes is the cheaper entry point, with Parkes houses about 3% dearer.

Gross rental yield on houses is effectively level, at 4.80% in Forbes and 4.80% in Parkes, so neither suburb has a cash flow edge on houses.

Over the past year house prices moved +12.0% in Forbes and +7.0% in Parkes, so recent momentum favours Forbes, although both suburbs recorded growth.

Looking back three years, Forbes houses are +11.5% and Parkes houses -2.8%, so Forbes has compounded faster than Parkes over the longer window.

Rental vacancy is 1.5% in Forbes and 2.7% in Parkes, so landlords in Forbes face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Parkes is the bigger suburb, with a population of 11,324 against 8,157, larger than Forbes; a larger suburb usually means a deeper pool of buyers and tenants.

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