Hamlyn Terrace vs Richmond

The median house price is $1.0M in Hamlyn Terrace and $1.0M in Richmond, so Richmond is the cheaper entry point.

For units, Hamlyn Terrace sits at a median of $695K against $685K in Richmond, which makes Richmond the more affordable unit market and Hamlyn Terrace the pricier one.

On cash flow, Hamlyn Terrace leads: houses there return a gross rental yield of 3.94%, compared with 3.20% in Richmond, a gap of 0.74 percentage points.

Over the past year house prices moved +9.3% in Hamlyn Terrace and +8.4% in Richmond, so recent momentum favours Hamlyn Terrace, although both suburbs recorded growth.

Looking back three years, Hamlyn Terrace houses are +15.6% and Richmond houses +19.3%, so Richmond has compounded faster than Hamlyn Terrace over the longer window.

Rental vacancy is 1.1% in Richmond and 1.4% in Hamlyn Terrace, so landlords in Richmond face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Hamlyn Terrace is the bigger suburb, with a population of 8,761 against 5,418, larger than Richmond; a larger suburb usually means a deeper pool of buyers and tenants.

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