Melbourne inner north ยท VIC 3065
Buyers agent in Fitzroy
The one suburb here where the units have beaten the houses, and the yields are unusually good for inner Melbourne.
Figures below are July 2026, suburb level, all bedroom counts. Full Yarra council report.
The Fitzroy numbers
Houses
$1,560,866
Typical price
$1,130
Weekly rent
3.76%
Gross yield
+0.7%
Growth a year, 10yr
+2.1%
Growth, last 12mth
118
Sales a year
Units
$1,147,554
Typical price
$856
Weekly rent
3.88%
Gross yield
+3.0%
Growth a year, 10yr
+2.4%
Growth, last 12mth
227
Sales a year
Vacancy rate 0.92% across roughly 8,163 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
Fitzroy is the odd one out. Units have grown 3.0% a year over ten years, houses only 0.7%. Everywhere else on this list the land wins. Here it hasn't.
Part of that is what counts as a unit in Fitzroy. A converted warehouse with real floor space behaves nothing like a 1990s two bedroom flat in Doncaster, and the numbers reflect that. A typical Fitzroy unit is $1.15m, which is not far off the $1.56m house.
The yields are the other surprise. 3.76% on houses and 3.88% on units. For inner Melbourne that's strong, and vacancy at 0.92% is the second tightest on this list.
So the rental case is good and the house growth case is weak. That's an unusual combination and it deserves a closer look than a webpage can give it.
Who Fitzroy suits
Buyers who want inner north character stock and are willing to be specific about what they buy rather than buying the suburb.
What I'd watch
The 0.7% ten year house number. Fitzroy houses are heritage constrained and expensive to renovate, and that shows up in the growth.
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
Fair questions
Buying in Fitzroy, answered
Why do Fitzroy units outperform the houses?
Stock quality. Fitzroy's unit market includes converted warehouses and large character conversions that behave more like houses than apartments. They've grown 3.0% a year over the decade against 0.7% for houses. It's a genuine exception to the usual rule and it means the specific property matters more here than the suburb.
What are Fitzroy rental yields?
3.76% gross on houses and 3.88% on units as at July 2026, with vacancy at 0.92%. Those are strong numbers for a suburb this close to the Melbourne CBD.
Other Melbourne suburbs
Same treatment, same data, different answer in every one of them.