Melbourne inner south · VIC 3183

Buyers agent in Balaclava

The highest yield on this list at 6.58%, sitting on ten years of negative growth. That is not a coincidence.

Figures below are August 2026, suburb level, all bedroom counts. Full Port Phillip council report.

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The Balaclava numbers

Houses

$1,330,128

Typical price

$983

Weekly rent

3.84%

Gross yield

-0.0%

Growth a year, 10yr

-0.4%

Growth, last 12mth

Sales a year

Units

$476,846

Typical price

$603

Weekly rent

6.58%

Gross yield

-0.8%

Growth a year, 10yr

-3.4%

Growth, last 12mth

157

Sales a year

Vacancy rate 2.30% across roughly 3,411 dwellings. HtAG Analytics, suburb level, all bedroom counts. Typical price is a modelled estimate, not a median of recent sales.

The honest read

What I'd tell you over a coffee

Balaclava units yield 6.58% gross. Nothing else on this page comes close, and the second you see a number like that you should ask what it is compensating for.

Here is what. Unit prices have gone backwards 0.82% a year over ten years, and 2.65% a year over five.

The houses are the same shape. Minus 0.02% a year over the decade, which is dead flat, and minus 3.44% a year over five.

Rent has gone the other way entirely, up 5.42% a year over ten years on houses. That is one of the strongest rent numbers here. People want to live in Balaclava. The market has just decided what owning it is worth and has not changed its mind in ten years.

The house sample is small at 46 sales a year across about 3,411 dwellings, and the house figures carry a Medium confidence rating.

Vacancy is 2.30%, which is soft, and that matters when your whole case rests on the rent.

Who Balaclava suits

Yield focused investors who want inner Melbourne, understand they are buying income, and have growth coming from somewhere else in the portfolio. On 6.58% gross, five kilometres from the city, that argument can be made honestly.

What I'd watch

The vacancy rate at 2.30% next to the yield at 6.58%. A high yield only pays while the property is occupied, and 2.30% says there is competition for tenants. Buy the good one, not the cheap one.

How I work

Flat $20,000 fee, whatever you buy and wherever it is
No commissions from agents, developers or builders
I'll tell you when a suburb doesn't stack up, including this one

How the process runs

Fair questions

Buying in Balaclava, answered

Is a 6.58% yield in inner Melbourne too good to be true?

It is real, and it is the market paying you to accept no capital growth. Ten years at minus 0.82% a year on units is the other half of that trade. If cash flow is what you need, this is one of the few inner Melbourne places that offers it. If you need growth, it has not been here.

What has happened to Balaclava prices?

Houses are flat over the decade at minus 0.02% a year and down 3.44% a year over five. Units are down 0.82% a year over ten. Meanwhile rent grew 5.42% a year. That divergence is the whole story of the suburb.

How reliable are these numbers?

The unit figures are solid on 157 sales a year. The house figures come off about 46 sales a year and carry a Medium confidence rating, so treat the $1,330,128 as a guide rather than a price.

Other Melbourne suburbs

Same treatment, same data, different answer in every one of them.

Thinking seriously about Balaclava? Read the full Port Phillip council report before you look at a single listing.

Read the council report Book my free call