Balaclava Property Market Overview (2026)
Balaclava sits in the solid middle-market position. The suburb offers solid value relative to its amenity base — growing infrastructure with 39 verified local businesses.
Price Estimates
| Property Type | Estimated Median | Monthly Mortgage (est.)* |
|---|---|---|
| House | $750K–$1.1M | $3,000–$4,400 |
| Unit/Apartment | $420K–$600K | $1,700–$2,400 |
Estimates based on Balaclava’s market positioning. Mortgage estimates assume 20% deposit, 6.5% variable rate, 30-year term. For current sales data, check REIV or Domain.
What Drives Property Value in Balaclava
Property prices in any suburb reflect three things: what is already there, what is coming, and how easy it is to get to the CBD. Here is how Balaclava stacks up:
| Amenity Factor | Balaclava | Impact on Value |
|---|---|---|
| Schools | 2 | Limited |
| Parks | 3 | Low |
| Dining & Cafes | 19 | Growing |
| Medical | 1 | Gap |
| Supermarkets | 2 | Basic |
| Gyms & Fitness | 0 | Some options |
Total amenity score: 39. Growing infrastructure — early buyers may benefit from appreciation as the suburb develops.
Schools (Key Value Driver)
Balaclava has 2 schools — school zone boundaries are one of the strongest price drivers in Melbourne property:
| School | Address |
|---|---|
| St Kilda Primary School | 2B Brighton Road |
| Yeshivah College | 92 Hotham Street |
Check zone boundaries at findmyschool.vic.gov.au.
Rental Market
| Unit Type | Weekly Rent (est.) |
|---|---|
| 1 Bedroom | $300–$400 |
| 2 Bedroom | $400–$520 |
| 3 Bedroom | $520–$700 |
Rental yield estimate: 4.0–4.5% (higher yields in more affordable suburbs).
See our detailed Cost of Living Guide for full cost breakdown.
Before You Buy in Balaclava
- Check school zones — findmyschool.vic.gov.au determines your designated school
- Review planning overlays — heritage, flood, bushfire at your local council
- Check flood risk — planning.vic.gov.au
- Attend auctions — quoted ranges in Balaclava are guides, not guarantees
- Get a building inspection — non-negotiable for any house purchase
- Talk to locals — knock on a neighbour’s door. They will tell you what agents won’t
Key Links for Balaclava Property Research
- Domain — current listings and recent sales
- realestate.com.au — price history and suburb profiles
- REIV — quarterly median prices (the official data)
- ABS Census — population and demographic data
Related Guides
- Best Restaurants in Balaclava
- Best Cafes in Balaclava
- Best Bars in Balaclava
- Cost of Living in Balaclava
- Balaclava Neighbourhood Guide
- Family Guide to Balaclava
- Is Balaclava Safe?
- Balaclava Transport Guide
Last updated: March 2026. This guide is refreshed when OpenStreetMap data changes — new openings, closures and corrections are reflected automatically. Found something wrong? Let us know.
Sources
- OpenStreetMap Contributors — openstreetmap.org — accessed March 2026
- ABS Census 2021 — abs.gov.au/census
- REIV Quarterly Median Prices — reiv.com.au
