Balwyn vs Malvern
Property investment comparison - Balwyn, VIC 3103 vs Malvern, VIC 3144
Head-to-head across core investment metrics: Balwyn wins 1, Malvern 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 | Malvern |
|---|---|---|
| Median house price | $2.7M | $2.6M |
| Median unit price | $860K | $800K |
| Gross rental yield (houses) | - | 2.36% |
| Gross rental yield (units) | 3.74% | 3.70% |
| 1-year house growth | -11.1%estimate | -6.9%estimate |
| 3-year house growth | - | - |
| Vacancy rate | 1.7% | 1.4% |
| Population | 13,495 | 9,929 |
Balwyn vs Malvern: what the numbers say
The median house price is $2.7M in Balwyn and $2.6M in Malvern, so Malvern is the cheaper entry point, with Balwyn houses about 4% dearer.
For units, Balwyn sits at a median of $860K against $800K in Malvern, which makes Malvern the more affordable unit market and Balwyn the pricier one.
Over the past year house prices moved -11.1% in Balwyn (an estimate) and -6.9% in Malvern (an estimate), so recent momentum favours Malvern, while Balwyn went backwards.
Rental vacancy is 1.4% in Malvern and 1.7% in Balwyn, so landlords in Malvern face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Balwyn is the bigger suburb, with a population of 13,495 against 9,929, larger than Malvern; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Malvern for a lower purchase price, Malvern for recent price momentum, Malvern 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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