Fitzroy and Collingwood share a border along Smith Street — one of Melbourne’s most vibrant retail and dining strips — yet offer meaningfully different property profiles and investment propositions.
At a Glance: Fitzroy vs Collingwood 2026
| Metric | Fitzroy | Collingwood |
|---|---|---|
| Median House Price | $1,580,000 | $1,320,000 |
| Median Unit Price | $610,000 | $580,000 |
| Gross Unit Yield | 3.9% | 4.5% |
| 5-Year Growth | 37% | 33% |
| Walk Score | 99 | 97 |
| GeeVee Score | 8.1/10 | 7.7/10 |
Fitzroy’s Heritage Premium vs Collingwood’s Yield Advantage
Fitzroy commands a $260,000 house price premium over Collingwood, reflecting its tighter stock of Victorian terrace homes, Edinburgh Gardens proximity and higher owner-occupier rate (44% vs 38%). Collingwood offers a significantly higher gross unit yield (4.5% vs 3.9%) and a lower entry price, making it the stronger cash flow play for investors. Collingwood’s mixed-use zoning also creates commercial conversion and development opportunities not available in predominantly residential Fitzroy.
Frequently Asked Questions
Is Fitzroy or Collingwood more expensive?
Fitzroy is more expensive by $260,000 for houses ($1,580,000 vs $1,320,000) and $30,000 for units ($610,000 vs $580,000) per REIV Q2 2025.
Which has better rental yield — Fitzroy or Collingwood?
Collingwood has a higher gross unit yield at 4.5% vs Fitzroy’s 3.9% (REIV Q2 2025).
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