Melbourne south east · VIC 3162

Buyers agent in Caulfield

Ten years of holding a $1.8m asset to end up almost exactly where you started.

Figures below are August 2026, suburb level, all bedroom counts. Full Glen Eira council report.

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The Caulfield numbers

Houses

$1,835,747

Typical price

$957

Weekly rent

2.71%

Gross yield

+0.6%

Growth a year, 10yr

-0.9%

Growth, last 12mth

Sales a year

Units

$819,300

Typical price

$640

Weekly rent

4.06%

Gross yield

+1.3%

Growth a year, 10yr

-0.4%

Growth, last 12mth

Sales a year

Vacancy rate 2.02% across roughly 2,811 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

Over the last decade the typical Caulfield house has grown at 0.63% a year. Not fallen over. Just gone almost nowhere, while you paid rates, insurance and interest on close to $1.8m.

The last five years are worse. Minus 1.9% a year. The last twelve months, minus 0.85%.

The yield does not rescue it either. 2.71% gross on a $1,835,747 house is about $957 a week coming in against an asset most people are borrowing 80% of. You do not need a spreadsheet to see how that ends.

There is one genuinely interesting number here though. Caulfield units grew 1.29% a year over the decade, double what the houses did, on a 4.06% yield. That is rare. In most of Melbourne the house wins and the unit lags. Here they have both been ordinary, and the unit has been slightly less ordinary while costing $819,300 instead of $1.8m.

Worth knowing the market is thin. 58 house sales a year across about 2,811 dwellings. That is very low turnover, and it means one or two odd results move the number.

Vacancy sits at 2.02%, which is not tight. There is real rental demand around the Monash campus and the racecourse, and there is also enough stock that a landlord does not get to name the price.

Who Caulfield suits

Someone who wants to live near Caulfield Grammar, the racecourse or the Monash campus and has decided that is worth paying for. Completely fair reason to buy. It is not an investment case, and I would rather say that now than after you have signed.

What I'd watch

The unit market is the one to think hardest about. A 4.06% yield reads well until you remember the capital has done 1.29% a year. If someone is selling you a Caulfield apartment on the rental return, ask what the same apartment sold for in 2016.

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 Caulfield, answered

Would you buy in Caulfield for an investor?

Almost certainly not, and I would show you these numbers first rather than after. Nought point six three percent a year over ten years is the whole answer. If you are buying a home to live in, that is a different conversation and I will do the same job I would do anywhere.

What is a Caulfield house actually worth?

About $1,835,747 as at August 2026, on roughly 58 house sales a year. Units sit near $819,300 and turn over more often at about 88 sales a year. The confidence rating on the house figure is Medium, which is the data provider's way of saying the sample is thin. Treat it as a guide, not a valuation.

Is Caulfield a good rental market?

An average one. Vacancy is 2.02%, comfortable for tenants rather than tight for landlords. Rent has grown 3.87% a year over the decade, which is respectable. The rent side works. The capital side has not.

Other Melbourne suburbs

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

Thinking seriously about Caulfield? Read the full Glen Eira council report before you look at a single listing.

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