Green Point vs Wallacia

The median house price is $1.3M in Green Point and $1.3M in Wallacia, so Green Point is the cheaper entry point.

For units, Green Point sits at a median of $830K against $285K in Wallacia, which makes Wallacia the more affordable unit market and Green Point the pricier one.

On cash flow, Green Point leads: houses there return a gross rental yield of 3.10%, compared with 2.80% in Wallacia, a gap of 0.30 percentage points.

Over the past year house prices moved +4.5% in Green Point and +4.3% in Wallacia (an estimate), so recent momentum favours Green Point, although both suburbs recorded growth.

Rental vacancy is 2.0% in Green Point and 2.3% in Wallacia, so landlords in Green Point face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Green Point is the bigger suburb, with a population of 6,810 against 1,711, roughly 4.0 times the size of Wallacia; a larger suburb usually means a deeper pool of buyers and tenants.

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