Caulfield East vs Templestowe

The median house price is $1.6M in Caulfield East and $1.6M in Templestowe, so Caulfield East is the cheaper entry point.

For units, Caulfield East sits at a median of $370K against $970K in Templestowe, which makes Caulfield East the more affordable unit market and Templestowe the pricier one.

Over the past year house prices moved +0.4% in Caulfield East and -5.6% in Templestowe (an estimate), so recent momentum favours Caulfield East, while Templestowe went backwards.

Rental vacancy is 1.0% in Caulfield East and 2.3% in Templestowe, so landlords in Caulfield East face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Templestowe is the bigger suburb, with a population of 16,966 against 1,293, roughly 13 times the size of Caulfield East; a larger suburb usually means a deeper pool of buyers and tenants.

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