Castlemaine vs McKenzie Hill
Property investment comparison - Castlemaine, VIC 3450 vs McKenzie Hill, VIC 3451
Head-to-head across core investment metrics: Castlemaine wins 2, McKenzie Hill wins 2. 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 | McKenzie Hill |
|---|---|---|
| Median house price | $745K | $745K |
| Median unit price | $570K | $510K |
| Gross rental yield (houses) | - | 3.58% |
| Gross rental yield (units) | 3.66% | 4.63% |
| 1-year house growth | +2.0% | -1.9%estimate |
| 3-year house growth | -1.0% | - |
| Vacancy rate | 0.8% | 3.5% |
| Population | 7,506 | 775 |
Castlemaine vs McKenzie Hill: what the numbers say
Houses cost about the same in both suburbs: the median house price is $745K in Castlemaine and $745K in McKenzie Hill.
For units, Castlemaine sits at a median of $570K against $510K in McKenzie Hill, which makes McKenzie Hill the more affordable unit market and Castlemaine the pricier one.
Over the past year house prices moved +2.0% in Castlemaine and -1.9% in McKenzie Hill (an estimate), so recent momentum favours Castlemaine, while McKenzie Hill went backwards.
Rental vacancy is 0.8% in Castlemaine and 3.5% in McKenzie Hill, so landlords in Castlemaine face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Castlemaine is the bigger suburb, with a population of 7,506 against 775, roughly 10 times the size of McKenzie Hill; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Castlemaine 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
Compare any 2-4 Australian suburbs
Build your own multi-suburb comparison with the full interactive tool.
Open interactive comparison