Mount Eliza vs Northcote
Property investment comparison - Mount Eliza, VIC 3930 vs Northcote, VIC 3070
Head-to-head across core investment metrics: Mount Eliza wins 0, Northcote wins 4. 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 | Mount Eliza | Northcote |
|---|---|---|
| Median house price | $1.7M | $1.7M |
| Median unit price | $750K | $680K |
| Gross rental yield (houses) | - | 2.71% |
| Gross rental yield (units) | - | 4.58% |
| 1-year house growth | +1.5% | +3.1%estimate |
| 3-year house growth | -2.9% | - |
| Vacancy rate | 2.6% | 1.3% |
| Population | 18,734 | 25,276 |
Mount Eliza vs Northcote: what the numbers say
The median house price is $1.7M in Mount Eliza and $1.7M in Northcote, so Northcote is the cheaper entry point, with Mount Eliza houses about 1% dearer.
For units, Mount Eliza sits at a median of $750K against $680K in Northcote, which makes Northcote the more affordable unit market and Mount Eliza the pricier one.
Over the past year house prices moved +1.5% in Mount Eliza and +3.1% in Northcote (an estimate), so recent momentum favours Northcote, although both suburbs recorded growth.
Rental vacancy is 1.3% in Northcote and 2.6% in Mount Eliza, so landlords in Northcote face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Northcote is the bigger suburb, with a population of 25,276 against 18,734, larger than Mount Eliza; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Northcote for a lower purchase price, Northcote for recent price momentum, Northcote 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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