Nollamara vs Waikiki

Houses cost about the same in both suburbs: the median house price is $840K in Nollamara and $840K in Waikiki.

For units, Nollamara sits at a median of $755K against $620K in Waikiki, which makes Waikiki the more affordable unit market and Nollamara the pricier one.

On cash flow, Nollamara leads: houses there return a gross rental yield of 4.62%, compared with 4.10% in Waikiki, a gap of 0.52 percentage points.

Over the past year house prices moved +23.5% in Nollamara (an estimate) and +20.1% in Waikiki (an estimate), so recent momentum favours Nollamara, although both suburbs recorded growth.

Rental vacancy is 0.5% in Nollamara and 2.1% in Waikiki, so landlords in Nollamara face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Nollamara is the bigger suburb, with a population of 12,779 against 12,453, larger than Waikiki; a larger suburb usually means a deeper pool of buyers and tenants.

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