North Melbourne is Melbourne's fastest-gentrifying inner precinct — a dense urban neighbourhood where proximity to Royal Melbourne Hospital (creating significant medical workforce demand), Errol Street's quietly chic café and dining quarter, and Royal Park's 180-hectare bushland reserve create an increasingly premium location just 5 minutes from the CBD. The suburb's ongoing transformation from post-industrial worker housing to premium inner-city living is delivering sustained double-digit capital growth for early investors. At the current $1.3m median house price, an 80% loan at 6.25% over 30 years is about $6,403 per month.
| Median house price | $1,300,000 |
|---|---|
| Median unit price | $680,000 |
| Estimated monthly repayment | $6,403 at 80% LVR, 6.25%, 30 years |
| Annual price growth | 6% |
| Gross rental yield | 3.8% |
| Typical days on market | 16 |
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