Bundoora vs Kalorama

The median house price is $910K in Bundoora and $915K in Kalorama, so Bundoora is the cheaper entry point, with Kalorama houses about 1% dearer.

For units, Bundoora sits at a median of $505K against $1.3M in Kalorama, which makes Bundoora the more affordable unit market and Kalorama the pricier one.

On cash flow, Kalorama leads: houses there return a gross rental yield of 5.13%, compared with 3.44% in Bundoora, a gap of 1.69 percentage points.

Over the past year house prices moved +1.8% in Bundoora (an estimate) and -2.4% in Kalorama (an estimate), so recent momentum favours Bundoora, while Kalorama went backwards.

Rental vacancy is 1.5% in Bundoora and 2.9% in Kalorama, so landlords in Bundoora face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Bundoora is the bigger suburb, with a population of 28,068 against 1,277, roughly 22 times the size of Kalorama; a larger suburb usually means a deeper pool of buyers and tenants.

In short: Kalorama for rental income, Bundoora for a lower purchase price, Bundoora for recent price momentum, Bundoora for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.