Carrum vs Macedon
Property investment comparison - Carrum, VIC 3197 vs Macedon, VIC 3440
Head-to-head across core investment metrics: Carrum wins 4, Macedon wins 1. 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 | Carrum | Macedon |
|---|---|---|
| Median house price | $1.1M | $1.1M |
| Median unit price | $830K | $840K |
| Gross rental yield (houses) | 3.33% | - |
| Gross rental yield (units) | 4.20% | 2.17% |
| 1-year house growth | +8.9% | +3.6%estimate |
| 3-year house growth | +4.6% | - |
| Vacancy rate | 1.2% | 4.5% |
| Population | 4,239 | 2,073 |
Carrum vs Macedon: what the numbers say
The median house price is $1.1M in Carrum and $1.1M in Macedon, so Macedon is the cheaper entry point, with Carrum houses about 1% dearer.
For units, Carrum sits at a median of $830K against $840K in Macedon, which makes Carrum the more affordable unit market and Macedon the pricier one.
Over the past year house prices moved +8.9% in Carrum and +3.6% in Macedon (an estimate), so recent momentum favours Carrum, although both suburbs recorded growth.
Rental vacancy is 1.2% in Carrum and 4.5% in Macedon, so landlords in Carrum face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Carrum is the bigger suburb, with a population of 4,239 against 2,073, roughly 2.0 times the size of Macedon; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Macedon for a lower purchase price, Carrum for recent price momentum, Carrum 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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