Forest Hill vs Macleod

Houses cost about the same in both suburbs: the median house price is $1.2M in Forest Hill and $1.2M in Macleod.

For units, Forest Hill sits at a median of $765K against $755K in Macleod, which makes Macleod the more affordable unit market and Forest Hill the pricier one.

Gross rental yield on houses is effectively level, at 2.75% in Forest Hill and 2.75% in Macleod, so neither suburb has a cash flow edge on houses.

Over the past year house prices moved +1.6% in Forest Hill and +9.6% in Macleod, so recent momentum favours Macleod, although both suburbs recorded growth.

Looking back three years, Forest Hill houses are -1.7% and Macleod houses +6.8%, so Macleod has compounded faster than Forest Hill over the longer window.

Rental vacancy is 0.6% in Macleod and 1.0% in Forest Hill, so landlords in Macleod face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.

Forest Hill is the bigger suburb, with a population of 10,780 against 9,892, larger than Macleod; a larger suburb usually means a deeper pool of buyers and tenants.

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