You are pricing Alphington and the numbers look weirdly low for inner north-east Melbourne. Here is the clean read: what the median house and unit prices actually mean, what deposit you need, and when the suburb stops making sense.
The Verdict
Alphington’s best-value property play in early 2026 is the 2-bedroom unit, not the median house. The current unit median is $407,189, with 2-bedroom apartments sitting around the same mark and showing a 5.2% rental yield. That is the cleanest entry point if you want the Alphington postcode without taking on a house budget, a $139,625 deposit target, and the stress of a 72% auction clearance market.
The house median is $698,125, up 5.6% year on year, and that tells you two things at once: buyers are still competing for family stock, but the suburb is not running away at the pace of hotter inner-north pockets. A median 3-bedroom house needs a 20% deposit of about $139,625 before stamp duty, legal costs, inspections, and moving costs. The median unit needs about $81,437 for a 20% deposit, which is a very different conversation for first-home buyers and investors. Days on market are sitting at 49, so this is not a panic market, but quality places on good streets will still get picked over. Don’t treat the $698,125 house median as a promise that every decent family home is available at that price. You will regret using the headline median as your ceiling instead of checking bedroom count, condition, and exact position.
Local Reality
Alphington is a small market, so medians can look more precise than they feel on the ground. The 235 settled sales over the past 12 months give you enough signal to compare houses and units, but not enough to pretend every pocket behaves the same. Around Alphington Station, the appeal is convenience and train access. Closer to Darebin Creek and Yarra Bend Park, buyers tend to care more about green space, family routines, and weekend lifestyle. Those two buyer groups do not always chase the same property, which is why bedroom count matters more here than a single suburb-wide median.
The practical reality is that the middle of the market is competitive, not frantic. A 49-day median selling period means buyers can usually inspect, compare, and negotiate if the property is compromised. But the clean, well-presented 3-bedroom house near the right transport or parkland will not behave like the average listing. Auctions clearing at 72% mean vendors still have enough confidence to push, especially when several family buyers land on the same address.
Skip this suburb if you need the biggest possible block for the money. Alphington is about access, amenity, and relative value beside better-known inner-north addresses, not maximum land size. If you are west of the strongest Alphington pull factors and mostly shopping on price, you should also compare nearby suburbs before assuming this is the automatic pick.
Who This Suits
If you are a first-home buyer, pick the unit lane first. A 1-bedroom unit median of $305,391 and a 2-bedroom unit median of $407,189 give you more room to move, especially if lender approval is tight. If you are a young couple planning to stay five years or more, the 2-bedroom unit is the cleaner compromise between price, yield, and future resale depth. If you are a family buyer, use the 3-bedroom house median of $698,125 as a starting point, then expect sharper competition for anything renovated, well-located, or easy to move into. If you are an investor, the unit yield at 5.2% beats the house yield at 4.5%, but you still need to be strict on body corporate costs and vacancy risk.
Cost-wise, the real purchase number is bigger than the median. The median house carries estimated stamp duty of $38,396, or $31,415 for eligible first-home buyers with concessions. Add that to the deposit, inspections, conveyancing, loan costs, and any immediate repairs. For units, the lower purchase price helps, but ongoing strata fees can blunt the yield if you buy lazily.
Timing matters too. These figures represent settled sales for the 12 months to March 2026, so they lag what buyers feel at open homes. In a rising patch, the live market may already be ahead of the median. In a softer month, vendors may still be anchored to old expectations. Use the tables below as your price map, then check recent comparable sales before bidding.
What to Do Next
Use the 2-bedroom unit median as your benchmark, then test every listing against bedroom count, condition, and walkability before you inspect. For the broader suburb read, go next to the Alphington property market guide.
Current Median Prices
| Property Type | Median Price | YoY Change | Rental Yield |
|---|---|---|---|
| Houses | $698,125 | +5.6% | 4.5% |
| Units/Apartments | $407,189 | +2.0% | 5.2% |
Market Indicators:
- Days on market (median): 49 days
- Auction clearance rate: 72%
- Total sales (last 12 months): 235 settled
Price Breakdown by Bedroom Count
Houses
| Bedrooms | Median Price | Price Range |
|---|---|---|
| 2-bedroom | $488,687 | $418,875 - $558,500 |
| 3-bedroom | $698,125 | $593,406 - $802,843 |
| 4-bedroom | $907,562 | $802,843 - $1,047,187 |
| 5+ bedroom | $1,117,000 | $977,374 - $1,396,250 |
Units & Apartments
| Bedrooms | Median Price | Price Range |
|---|---|---|
| 1-bedroom | $305,391 | $244,313 - $346,110 |
| 2-bedroom | $407,189 | $346,110 - $468,267 |
| 3-bedroom | $549,705 | $488,626 - $610,783 |
Growth Trend (5-Year View)
| Year | House Median | Unit Median |
|---|---|---|
| 2022 | $562,073 | $376,086 |
| 2023 | $593,373 | $383,632 |
| 2024 | $626,416 | $391,329 |
| 2025 | $661,299 | $399,180 |
| 2026 (YTD) | $698,125 | $407,189 |
Rental Market
Current rental medians in Alphington:
| Property Type | Weekly Rent | Annual Yield |
|---|---|---|
| House (3br) | $602/wk | 4.5% |
| Unit (2br) | $398/wk | 5.2% |
Vacancy rate: 2.6% (balanced, slight tenant advantage)
Data sources: REIV quarterly median reports, Domain suburb profiles, CoreLogic RP Data. Figures represent settled sales for the 12 months to March 2026. Individual sale prices vary significantly based on condition, aspect, and exact location.
