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 Melbourne’s northern property market performed in the last 12 months?
The northern region of Melbourne has performed strongly. Buyers see good value given the proximity to schools, parks, amenities and the CBD, and transaction volumes have held up. The rental market has been particularly strong, especially for two-bedroom apartments and three-bedroom homes, which regularly draw impressive crowds. Properties freshened with basic renovations have outperformed the rest.
The area remains one of Melbourne’s most desirable and consistently active markets. We anticipate steady growth.
Which suburbs in the north look best placed for stability over the next 12 months?
Pascoe Vale is excellent value, offering good-sized blocks, lovely heritage homes and great amenities. The southern pockets of Brunswick East and West consistently attract brisk buyer interest due to more accessible pricing than surrounding suburbs.
How do you expect your region will respond to further potential cash rate adjustments?
The area remains relatively affordable, with dual incomes supporting prices, and a broad range of property types attracting first-home buyers, upsizers and downsizers. The market should continue to transact, though investors facing higher holding costs and uncertainty may show some hesitancy.
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.Merri-Bek
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Brunswick
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Brunswick East
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Brunswick West
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Coburg
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Coburg North
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Fawkner
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Glenroy
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Gowanbrae
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Hadfield
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Oak Park
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Pascoe Vale
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Pascoe Vale South
Median days on market
Source: Cotality, 01/04/2025 - 31/03/2026Merri-Bek
Rental yield
Source: Cotality, 01/04/2025 - 31/03/2026Merri-Bek
Current population
Source: ABS Census 2021 DataMerri-Bek
- Houses
- Units
Pascoe Vale South is seeing strong quarterly house price growth at 3.6%¹. What factors are contributing to this?
A clear price progression runs through the northern corridor – Brunswick at the premium end, Coburg in the mid-tier, and Pascoe Vale South offering comparable lifestyle fundamentals at more accessible price points. As Brunswick and Coburg have become less affordable, buyers have moved along that corridor. Pascoe Vale South delivers CBD proximity, transport access, established housing stock with excellent renovation potential and a family-friendly environment.
Brunswick East is seeing high rental yields at 3.1%². Why is Brunswick East such an attractive suburb for investors?
Brunswick East combines lifestyle appeal, transport access and proximity to Fitzroy, Carlton and Clifton Hill, but with a more limited rental stock than neighbouring Brunswick. That supply constraint, alongside consistent renter demand, underpins yields, making it a solid option for investors.
Ownership
Source: ABS Census 2021 DataMerri-Bek
- Own
- 32%
- Purchasing
- 31%
- Rent
- 34%
- Other
- 3%
- Own
- Purchasing
- Rent
- Other
Dwelling type
Source: ABS Census 2021 DataMerri-Bek
- House
- 54%
- Semi detached
- 28%
- Unit / apartment
- 18%
- House
- Semi detached
- Unit / apartment
What does FY27 and beyond look like for your property market?
We are very optimistic. The region remains one of Melbourne’s most desirable and consistently active markets. We anticipate steady growth, though investor appetite will be shaped by how holding and building costs evolve. The fundamentals – location, lifestyle and limited supply – remain firmly in place.
Fast Five with Elizabeth Kelly
Favourite street
Barkly Street, Brunswick East, with fantastic street appeal and Victorian terraces.
Local secret
Old Palm Liquor for a wine and snack at the bar.
Memorable sale
9 Bruce Street, Brunswick, selling above our expectations after the fastest bidding I’ve seen in years.
Design focus
Saunas and built-in wine bars.
One to watch
The neighbouring streets of East Brunswick Village.
