Raymond Terrace vs Windellama

Houses cost about the same in both suburbs: the median house price is $765K in Raymond Terrace and $765K in Windellama.

For units, Raymond Terrace sits at a median of $540K against $560K in Windellama, which makes Raymond Terrace the more affordable unit market and Windellama the pricier one.

On cash flow, Raymond Terrace leads: houses there return a gross rental yield of 4.30%, compared with 3.84% in Windellama, a gap of 0.46 percentage points.

Over the past year house prices moved +12.0% in Raymond Terrace and +20.6% in Windellama (an estimate), so recent momentum favours Windellama, although both suburbs recorded growth.

Rental vacancy is 1.4% in Raymond Terrace and 6.1% in Windellama, so landlords in Raymond Terrace face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Raymond Terrace is the bigger suburb, with a population of 13,453 against 417, roughly 32 times the size of Windellama; a larger suburb usually means a deeper pool of buyers and tenants.

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