You are checking Best Restaurants Melbourne prices and the headline number is simple: houses sit at $683,331, units at $360,555, and the smarter buy depends on whether you want growth, yield, or a deposit you can actually reach.
The Verdict
The best-value pick is the unit market, with a current median of $360,555 and a 5.2% rental yield. That is the clearest number in the whole dataset because it gives buyers a lower entry point, a smaller deposit target, and stronger rent return than houses. A 20% deposit on the median unit is $72,111, compared with $136,666 for the median house. For first-home buyers, investors, or anyone trying to stay liquid after settlement, that gap matters more than a glossy auction result.
Houses still make sense if you need land, bedrooms, or a family upgrade path. The median house price is $683,331, up 1.9% year on year, with a 3.5% rental yield and a 59-day median time on market. That is not a runaway market, but it is not soft either, especially with a 77% auction clearance rate and 331 settled sales across the last 12 months. The counter-take: do not stretch for a median house just because it feels safer. If the repayments force you to ignore stamp duty, repairs, or vacancy risk, you will regret picking the bigger number over the better fit.
Local Reality
This is a numbers-first market read, not a street-by-street buyer’s brief. The useful local reality is that the data is based on settled sales reported through REIV, Domain, and CoreLogic, not asking prices or agent estimates. That matters because advertised listings can make the suburb feel cheaper or more expensive than the deals actually closing. The settled-sales view says houses are inching up, units are still sliding, and buyers have enough transaction volume to compare rather than panic.
The practical pressure point is auction competition. A 77% clearance rate means quality properties on good streets are still likely to draw real bidding, even though the median days on market sits at 59. If a house has the right bedroom count, decent condition, and a clean contract, assume the competition is awake. Units are a different conversation: the median has moved from $402,212 in 2022 to $360,555 in 2026 YTD, so buyers can be choosier, but they should be tougher on body corporate costs, building condition, and rental appeal.
Skip this if you need hyperlocal street calls, because the supplied source does not name individual streets, schools, train stations, shopping strips, or landmarks. If you need that level of confidence, use this page as the price anchor, then read the full property market guide before inspecting. If your search is really about lifestyle fit rather than price, this median page is the wrong first stop.
Who This Suits
If you are a first-home buyer with a tight deposit, start with units. The $360,555 median and $72,111 estimated 20% deposit are simply easier to work with. If you are a family upgrading, look at 3-bedroom houses around the $683,331 median, but keep the stamp duty number in front of you before bidding. If you are an investor, units deserve the first pass because the listed 5.2% yield beats the house yield. If you are a land-focused buyer, houses are still the natural pick, but you are paying for control, space, and future optionality rather than pure yield.
Cost expectations need to be blunt. On the median house, stamp duty is listed at $37,583, or $30,749 for first-home buyers with concessions. The median 3-bedroom house sits at $683,331, while a 4-bedroom house pushes to $888,330 and 5+ bedrooms reaches $1,093,329. For units, the 1-bedroom median is $270,416, the 2-bedroom median is $360,555, and the 3-bedroom median is $486,749. The jump from a 2-bedroom unit to a 3-bedroom unit is meaningful, but still cheaper than crossing into the median house bracket.
Timing also matters. In early 2026, the market looks split: houses are up 1.9% year on year, units are down 2.7%, and the vacancy rate is 2.3%, which is tight and landlord-favourable. That combination suits buyers who can negotiate hard on apartments while still respecting rental demand. Do not treat winter, spring, or auction season as magic. Treat comparable settled sales as the control, then adjust for condition, bedroom count, and the level of competition on the day.
What to Do Next
Use the unit median as your baseline unless you genuinely need a house, then compare deposit, stamp duty, and yield before inspecting. For the broader suburb read, go to the Best Restaurants Melbourne property market guide.
Current Median Prices
| Property Type | Median Price | YoY Change | Rental Yield |
|---|---|---|---|
| Houses | $683,331 | +1.9% | 3.5% |
| Units/Apartments | $360,555 | -2.7% | 5.2% |
Market Indicators:
- Days on market (median): 59 days
- Auction clearance rate: 77%
- Total sales (last 12 months): 331 settled
Price Breakdown by Bedroom Count
Houses
| Bedrooms | Median Price | Price Range |
|---|---|---|
| 2-bedroom | $478,331 | $409,998 - $546,664 |
| 3-bedroom | $683,331 | $580,831 - $785,830 |
| 4-bedroom | $888,330 | $785,830 - $1,024,996 |
| 5+ bedroom | $1,093,329 | $956,663 - $1,366,662 |
Units & Apartments
| Bedrooms | Median Price | Price Range |
|---|---|---|
| 1-bedroom | $270,416 | $216,333 - $306,471 |
| 2-bedroom | $360,555 | $306,471 - $414,638 |
| 3-bedroom | $486,749 | $432,666 - $540,832 |
Growth Trend (5-Year View)
| Year | House Median | Unit Median |
|---|---|---|
| 2022 | $633,954 | $402,212 |
| 2023 | $645,953 | $391,367 |
| 2024 | $658,179 | $380,814 |
| 2025 | $670,637 | $370,546 |
| 2026 (YTD) | $683,331 | $360,555 |
Rental Market
Current rental medians in Best Restaurants Melbourne:
| Property Type | Weekly Rent | Annual Yield |
|---|---|---|
| House (3br) | $488/wk | 3.5% |
| Unit (2br) | $369/wk | 5.2% |
Vacancy rate: 2.3% (tight market, landlord-favourable)
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.
