Yes, Nunawading is a good investment for the right buyer in 2026 — particularly for those targeting the unit market, where median prices have risen 21.5% year-on-year to $839,000 according to DataVic/REIV data for the April–June 2025 quarter. The suburb sits in Melbourne’s middle ring east, offering relative affordability compared to inner suburbs, strong transport connectivity, and a stable, high-income renter base that keeps vacancy pressure low.

That said, no suburb is universally the right fit for every investor. This page breaks down the real numbers, the key risks, and the factors that should inform your decision before buying Nunawading property.

What Is the Short Answer: Is Nunawading a Good Investment?

The short answer is yes — with caveats. Nunawading sits in the City of Whitehorse, approximately 17 kilometres east of the Melbourne CBD, and benefits from a combination of factors that property investors value: direct rail access on the Belgrave/Lilydale line, proximity to the Eastern Freeway corridor, a dense mix of retail and employment precincts, and a demographics profile that trends toward professional, family households.

According to ABS Census 2021 data, Nunawading has a population of 12,413 people, a median age of 39 years, and a median household income of $1,938 per week. That income figure sits comfortably above the national median, which signals a suburb where tenants have the financial capacity to pay market rents consistently — a critical factor for landlords assessing risk.

The median weekly rent recorded is $391 per week (ABS Census 2021 via Collings CRM data). While this figure reflects 2021 conditions and rents have moved since then, the underlying demand profile that drives that number — professional households, families relocating from the inner east, and students servicing Box Hill institutions nearby — remains intact.

For investors comparing options across Melbourne’s east and north, it is worth reading how other suburbs stack up. Our analysis of Northcote as an investment suburb covers a similar data-first approach for the inner north, and the comparisons are instructive.

What Do the Numbers Say About Nunawading Property in 2025-2026?

Let’s look directly at the price data before drawing conclusions about investing in Nunawading.

House Prices

• Median house price: $1,180,000 (April–June 2025 quarter)
• Quarter-on-quarter change: -4.8%
• Year-on-year change: +0.4%
• Source: DataVic/REIV (via Collings CRM data)

The quarter-on-quarter dip of 4.8% in house prices is worth noting. However, a single-quarter contraction does not define a trend, particularly when the annual figure remains marginally positive at +0.4%. What this signals is a market that is consolidating after a period of elevated activity — a pattern seen across much of Melbourne’s middle ring in 2025 as interest rate conditions stabilised.

Unit Prices

• Median unit price: $839,000 (April–June 2025 quarter)
• Quarter-on-quarter change: -0.3%
• Year-on-year change: +21.5%
• Source: DataVic/REIV (via Collings CRM data)

The unit segment is where the most compelling short-term data sits. A 21.5% annual price increase to a median of $839,000 is a standout result and reflects a structural shift in buyer and renter demand toward medium-density housing in well-serviced suburbs. Units in Nunawading benefit from the suburb’s walkability to Nunawading Station, nearby Box Hill’s employment and retail hub, and the relative scarcity of quality stock.

The near-flat quarter-on-quarter result (-0.3%) on top of that annual surge suggests the unit market is digesting its gains rather than retracing, which is typically a healthier sign than a sharp reversal.

What Does This Mean for Gross Yield Estimates?

Using the ABS 2021 median weekly rent of $391 per week and adjusting upward conservatively given known rental market tightening since 2022, a rough gross yield estimate on a median-priced unit sits in the range of 2.6% to 3.2%. SQM Research’s national rental vacancy data has consistently shown Melbourne’s eastern corridor running below 2% vacancy through 2024 and into 2025, which supports the rental income case. Investors should obtain updated rental appraisals from a local agent before making assumptions.

What Are the Key Considerations Before Buying in Nunawading?

Investing in Nunawading is not a one-size-fits-all decision. Here are the most important factors to weigh.

Strengths

• Transport infrastructure: Nunawading Station sits on the Belgrave and Lilydale lines, providing direct access to the CBD and a range of employment nodes in between.
• Proximity to Box Hill: The Box Hill Strategic Activity Centre, one of Melbourne’s most significant urban renewal zones, is immediately adjacent. This drives population growth and rental demand that spills into Nunawading.
• High-income demographics: A median household income of $1,938 per week (ABS Census 2021) reduces tenant default risk and supports rent stability.
• Unit market momentum: The 21.5% annual unit price growth to $839,000 indicates genuine market interest, not speculative noise.
• Land value upside: Nunawading sits within a Whitehorse Council planning zone that has progressively accommodated medium-density development, meaning older houses on larger blocks carry potential development optionality.

Risks and Considerations

• House price softness: The -4.8% quarter-on-quarter house price movement bears watching. Buyers targeting detached houses should negotiate accordingly and not assume the annual trend holds in the short term.
• Yield compression: With a median house price of $1.18 million, gross yields on houses are thin. This is primarily a capital growth play for house buyers, not a high-yield income strategy.
• Supply risk in units: Strong unit price growth can attract new development pipelines. Investors should check with council on approved or pending medium-density projects in the immediate catchment.
• Interest rate sensitivity: At $1.18M for a house, borrowing costs are significant. Investors should stress-test repayments against rate scenarios rather than assuming the current environment persists.

If you are comparing Nunawading against other Melbourne suburbs, our analysis of Fairfield as an investment suburb and Alphington as an investment suburb provide useful benchmarks for understanding how yield and growth dynamics differ across Melbourne’s established corridors.

How Does Collings Real Estate Help Investors in Nunawading?

Collings Real Estate has been helping investors across Melbourne’s established suburbs identify property opportunities that match their financial goals and risk tolerance. Our team combines suburb-level data fluency with on-the-ground market knowledge, giving you an advantage that generic research platforms simply cannot replicate.

What a Collings Property Strategist Does

• Provides a current rental appraisal for Nunawading property types you are considering
• Identifies off-market opportunities through our exclusive portal before they reach the open market
• Assesses your portfolio strategy across multiple Melbourne suburbs, not just one postcode
• Advises on the optimal property type (house vs. unit) based on your yield and growth objectives
• Connects you with property management services that protect your investment from day one

Our off-market portal gives registered investors access to properties that never appear on the major listing platforms. You can sign up and start receiving matched opportunities at collings.com.au/portal.

To speak with a Collings property strategist directly about investing in Nunawading, contact our team:

• Phone: 03 9486 2000
• Email: info@collings.com.au
• Office: 230 Waterdale Road, Ivanhoe, VIC 3079

Frequently Asked Questions About Investing in Nunawading

What is the median house price in Nunawading?

According to DataVic/REIV data (via Collings CRM), the median house price in Nunawading was $1,180,000 in the April–June 2025 quarter, reflecting a year-on-year change of +0.4%.

What is the median unit price in Nunawading?

The median unit price in Nunawading was $839,000 in the April–June 2025 quarter, representing a substantial year-on-year increase of 21.5% according to DataVic/REIV data.

Is Nunawading good for rental yield?

Based on ABS Census 2021 data, the median weekly rent in Nunawading was $391 per week. Against current median prices, this implies relatively thin gross yields on houses, making the suburb more suitable as a capital growth play. Units may offer slightly better yield outcomes given their lower entry price point relative to houses.

Who lives in Nunawading?

ABS Census 2021 records Nunawading’s population at 12,413 with a median age of 39 years and a median household income of $1,938 per week — a professional, family-oriented demographic profile that supports rental stability.

How does Nunawading compare to other Melbourne investment suburbs?

Nunawading offers middle-ring pricing with strong unit market momentum (+21.5% year-on-year). Compared to inner-north suburbs like Northcote or Fairfield, Nunawading is more affordable but offers lower proximity to the CBD. The trade-off is greater land value upside potential tied to the Box Hill Strategic Activity Centre precinct nearby.

In summary, Nunawading presents a credible investment case in 2026, particularly for buyers targeting the unit segment or houses with development potential. The suburb’s demographics, transport links, and proximity to Box Hill provide structural support for long-term demand. Work with a local expert to identify the right property and negotiate in a market that rewards informed buyers. Talk to a Collings property strategist today by calling 03 9486 2000 or emailing info@collings.com.au.