Balwyn vs Hawthorn
Property investment comparison - Balwyn, VIC 3103 vs Hawthorn, VIC 3122
Head-to-head across core investment metrics: Balwyn wins 1, Hawthorn wins 4. The better choice depends on whether you're optimising for cash flow, growth, affordability, or liquidity, the table below highlights the winner on each metric.
| Metric | Balwyn | Hawthorn |
|---|---|---|
| Median house price | $2.7M | $2.7M |
| Median unit price | $860K | $590K |
| Gross rental yield (houses) | - | 2.03% |
| Gross rental yield (units) | 3.74% | 5.05% |
| 1-year house growth | -11.1%estimate | -8.7%estimate |
| 3-year house growth | - | - |
| Vacancy rate | 1.7% | 0.9% |
| Population | 13,495 | 22,322 |
Balwyn vs Hawthorn: what the numbers say
The median house price is $2.7M in Balwyn and $2.7M in Hawthorn, so Balwyn is the cheaper entry point, with Hawthorn houses about 1% dearer.
For units, Balwyn sits at a median of $860K against $590K in Hawthorn, which makes Hawthorn the more affordable unit market and Balwyn the pricier one.
Over the past year house prices moved -11.1% in Balwyn (an estimate) and -8.7% in Hawthorn (an estimate), so recent momentum favours Hawthorn, while Balwyn went backwards.
Rental vacancy is 0.9% in Hawthorn and 1.7% in Balwyn, so landlords in Hawthorn face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Hawthorn is the bigger suburb, with a population of 22,322 against 13,495, larger than Balwyn; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Balwyn for a lower purchase price, Hawthorn for recent price momentum, Hawthorn for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.
Keep exploring
- National investment guide - top suburbs across every metric
- Take the suburb finder quiz - 5 questions to match your goals
- How our investment score works
- Property investment glossary - every term defined
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