We sat down with our directors to explore how the past year has unfolded and what lies ahead for the local property market.
How has the region performed in the last 12 months?
The first half of 2026 has seen continued buyer confidence and energy across Fitzroy, Northcote, Collingwood and Thornbury. Open for inspection numbers have climbed noticeably, and well presented, A-grade homes in our core suburbs consistently attract multiple bidders and strong auction clearance results. On the rental side, vacancy rates remain extremely tight, and demand continues to exceed available supply.
The outlook is compelling. Stock scarcity, proximity to universities and hospitals, and deep buyer demand continue to underpin values, despite rate headwinds.
Which suburbs look best placed for stability?
Suburbs combining lifestyle appeal with genuine supply constraints continue to attract committed buyers. Northcote is a standout performer, with house values rising approximately 8.6%¹ over the twelve months to April, bringing the median price to around $1.74 million¹.
How do you expect the region will respond to potential cash rate adjustments?
The region’s structural scarcity and lifestyle appeal insulate against broader headwinds. Those considering entry should weigh the cost of waiting against the reality that quality stock here is unlikely to become materially cheaper.
Median property prices
Source: Cotality, 01/04/2025 - 31/03/2026 Where a suburb is split across a LGA, the whole suburb has been used to determine a median. Where there are insufficient sales within a suburb over a 12-month period, a median price has not been calculated.Darebin
-
Alphington
-
Coburg
-
Fairfield
-
Kingsbury
-
Northcote
-
Preston
-
Reservoir
-
Thornbury
Median days on market
Source: Cotality, 01/04/2025 - 31/03/2026Darebin
Rental yield
Source: Cotality, 01/04/2025 - 31/03/2026Darebin
Current population
Source: ABS Census 2021 DataDarebin
- Houses
- Units
Median property prices
Source: Cotality, 01/04/2025 - 31/03/2026 Where a suburb is split across a LGA, the whole suburb has been used to determine a median. Where there are insufficient sales within a suburb over a 12-month period, a median price has not been calculated.City of Melbourne
-
Carlton
-
Docklands
-
East Melbourne
-
Kensington
-
Melbourne
-
North Melbourne
-
Parkville
-
Prahran
-
South Yarra
-
Southbank
-
West Melbourne
Median days on market
Source: Cotality, 01/04/2025 - 31/03/2026City of Melbourne
Rental yield
Source: Cotality, 01/04/2025 - 31/03/2026City of Melbourne
Current population
Source: ABS Census 2021 DataCity of Melbourne
- Houses
- Units
Median property prices
Source: Cotality, 01/04/2025 - 31/03/2026 Where a suburb is split across a LGA, the whole suburb has been used to determine a median. Where there are insufficient sales within a suburb over a 12-month period, a median price has not been calculated.Yarra
-
Abbotsford
-
Alphington
-
Burnley
-
Carlton North
-
Clifton Hill
-
Collingwood
-
Cremorne
-
Fitzroy
-
Fitzroy North
-
Princes Hill
-
Richmond
Median days on market
Source: Cotality, 01/04/2025 - 31/03/2026Yarra
Rental yield
Source: Cotality, 01/04/2025 - 31/03/2026Yarra
Current population
Source: ABS Census 2021 DataYarra
- Houses
- Units
Fitzroy North remains a tightly held suburb, with residents staying for an average of 19 years³. What factors do you believe contribute to this longterm appeal?
Fitzroy North offers limited development opportunities, low stock levels and a rare balance of village atmosphere and innercity convenience, generating long-term appeal and liveability.
Metropolitan Melbourne’s vacancy rate is sitting at 1.6%³. Northcote is significantly tighter at 0.6%³. What does this high rental demand mean for investors?
Tight vacancy drives strong demand, reduced leasing downtime and upward pressure on rents – conditions amplified by population growth, lifestyle appeal and proximity to the CBD. With many investors having exited Victoria due to land tax changes, available stock has tightened further, making well-managed properties here genuinely compelling.
Ownership
Source: ABS Census 2021 DataDarebin
- Own
- 30%
- Purchasing
- 30%
- Rent
- 38%
- Other
- 2%
Melbourne
- Own
- 14%
- Purchasing
- 16%
- Rent
- 67%
- Other
- 3%
Yarra
- Own
- 20%
- Purchasing
- 24%
- Rent
- 53%
- Other
- 3%
- Own
- Purchasing
- Rent
- Other
Dwelling type
Source: ABS Census 2021 DataDarebin
- House
- 57%
- Semi detached
- 27%
- Unit / apartment
- 16%
Melbourne
- House
- 2%
- Semi detached
- 12%
- Unit / apartment
- 86%
Yarra
- House
- 12%
- Semi detached
- 38%
- Unit / apartment
- 50%
- House
- Semi detached
- Unit / apartment
What does FY27 and beyond look like for the property market in Melbourne’s inner north?
The outlook is compelling. Stock scarcity, proximity to universities and hospitals, and deep buyer demand continue to underpin property values, despite rate headwinds. Listings will rise modestly, making accurate pricing essential. For buyers with a five to ten-year horizon, the inner north remains one of Australia’s most fundamentally sound markets.
Fast Five with Sam Rigopoulos
Favourite street
Alfred Crescent is one of Melbourne’s great hidden boulevards.
Local secret
The Merri Creek Trail between Northcote and Fitzroy North, early morning or late afternoon.
Memorable sale
Two neighbouring properties at Christmas Street, Northcote – the campaign energy was incredible.
Design focus
Infrared saunas, cold plunge pools and retreat-style bathrooms paired with natural materials and strong connections to outdoor space.
One to watch
The pocket surrounding Westgarth Village is one of Melbourne’s most tightly held lifestyle markets.
