Castlemaine vs Delahey
Property investment comparison - Castlemaine, VIC 3450 vs Delahey, VIC 3037
Head-to-head across core investment metrics: Castlemaine wins 2, Delahey wins 3. 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 | Castlemaine | Delahey |
|---|---|---|
| Median house price | $745K | $745K |
| Median unit price | $570K | $610K |
| Gross rental yield (houses) | - | 3.51% |
| Gross rental yield (units) | 3.66% | 3.97% |
| 1-year house growth | +2.0% | +12.6% |
| 3-year house growth | -1.0% | +15.8% |
| Vacancy rate | 0.8% | 1.5% |
| Population | 7,506 | 8,077 |
Castlemaine vs Delahey: what the numbers say
Houses cost about the same in both suburbs: the median house price is $745K in Castlemaine and $745K in Delahey.
For units, Castlemaine sits at a median of $570K against $610K in Delahey, which makes Castlemaine the more affordable unit market and Delahey the pricier one.
Over the past year house prices moved +2.0% in Castlemaine and +12.6% in Delahey, so recent momentum favours Delahey, although both suburbs recorded growth.
Looking back three years, Castlemaine houses are -1.0% and Delahey houses +15.8%, so Delahey has compounded faster than Castlemaine over the longer window.
Rental vacancy is 0.8% in Castlemaine and 1.5% in Delahey, so landlords in Castlemaine face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Delahey is the bigger suburb, with a population of 8,077 against 7,506, larger than Castlemaine; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Delahey for recent price momentum, Castlemaine 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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