Blocks of units in Nunawading represent one of Melbourne’s east-side opportunities for investors seeking scale, reliable rental income, and long-term capital growth in a suburb that has recorded a remarkable 21.5% year-on-year rise in unit median prices to $839,000 for the April–June 2025 quarter. This guide covers everything you need to know about buying, valuing, and managing a unit block in Nunawading — from raw market numbers to the buying process.

What Exactly Are Blocks of Units in Nunawading, and Why Do Investors Buy Them?

A block of units is a single title (or sometimes a group of strata titles under one ownership) containing multiple self-contained residential dwellings on one parcel of land. In Nunawading, these typically range from three-unit walk-ups on R2 and R3 zoned land through to larger six-to-ten unit complexes on arterial roads such as Whitehorse Road and Springvale Road.

Investors buy unit blocks rather than individual units or houses for several structural reasons:

• Scale of income: A single transaction secures multiple rental streams, spreading vacancy risk across several tenancies rather than one.
• Compounding yield: Gross yields on multi-unit holdings typically exceed those on single dwellings because land-to-improvement ratios are more efficient. According to DataVic/REIV data (via Collings CRM), Nunawading’s median weekly rent sits at $391 per week, providing a competitive income base per unit.
• Development optionality: Nunawading sits within Whitehorse City Council’s strategic redevelopment corridor, meaning well-located blocks may carry future upside for owners willing to hold and eventually redevelop.
• Management efficiency: A single property manager can oversee every tenancy within one complex, reducing administrative duplication compared to managing individual properties across multiple suburbs.

For investors already familiar with the broader Melbourne market, exploring blocks of units for sale across Melbourne in 2026 provides useful context for how Nunawading compares to other middle-ring suburbs.

What Do the Numbers Say About the Nunawading Unit Market?

Data is the foundation of any serious investment decision, so the figures below are quoted verbatim from authoritative sources and should be treated as a starting point for due diligence rather than a substitute for independent valuation.

Median Prices (April–June 2025 Quarter)

• Median unit price: $839,000 (quarter-on-quarter change: -0.3%; year-on-year change: +21.5%) — DataVic/REIV via Collings CRM
• Median house price: $1,180,000 (quarter-on-quarter change: -4.8%; year-on-year change: +0.4%) — DataVic/REIV via Collings CRM

The contrast between house and unit price movements is significant. While house prices softened both quarter-on-quarter and year-on-year in relative terms, the unit segment recorded a 21.5% annual gain — a signal of strong demand from both owner-occupiers and investors for higher-density housing in the Nunawading precinct. The marginal quarterly dip of just 0.3% in the unit segment is consistent with a temporary cooling rather than a structural retreat.

Demographics and Rental Demand (ABS Census 2021)

ABS Census 2021 records the following for Nunawading:

• Population: 12,413
• Median age: 39.0 years
• Median household income: $1,938 per week
• Median rent: $391 per week

A median household income of $1,938 per week is materially above the Australian national median, indicating a tenant base with relatively strong capacity to absorb rental increases. The median age of 39.0 suggests a mix of established families and older downsizers — both cohorts that tend to favour longer tenancy durations, which reduces vacancy costs for unit block investors.

What Does This Mean for Gross Yield?

Using the ABS median rent of $391 per week and the DataVic/REIV median unit sale price of $839,000, a rough indicative gross yield on a single unit within a Nunawading block sits at approximately 2.4% per unit at median price. However, investors who acquire blocks at or below the per-unit median, or who hold older-style walk-ups purchased before recent appreciation cycles, can achieve meaningfully higher yields — particularly as rents continue to be driven upward by Melbourne’s ongoing housing supply shortfall. The RBA has consistently noted tight rental vacancy rates across Melbourne’s middle ring as a structural factor supporting rental income for well-positioned investors.

What Are the Key Considerations When Buying a Block of Units in Nunawading?

Purchasing a unit block is a fundamentally different exercise from buying a single residential property. Investors new to this asset class should account for the following factors before committing to a transaction.

Zoning and Planning Overlays

Nunawading falls under Whitehorse City Council. Key residential zones include the Neighbourhood Residential Zone (NRZ), General Residential Zone (GRZ), and Residential Growth Zone (RGZ). Blocks zoned RGZ offer the greatest development optionality, while NRZ sites carry tighter height and density controls. Always confirm the current zone and any applicable overlays (such as heritage or vegetation overlays) with the council before making an offer.

Building Condition and Capital Expenditure

Many Nunawading unit blocks were constructed between the 1960s and 1980s. Pre-purchase building and pest inspections, combined with a thorough review of owners corporation records (where applicable), are essential. Asbestos-containing materials, single-skin brick construction, and aging electrical systems are common in this era of building and can result in significant capital expenditure if not identified prior to purchase.

Tenancy Mix and Vacancy Rate

A fully tenanted block at settlement is the ideal starting position, but investors should verify current tenancy agreements, bond lodgements with the RTBA, and whether any tenants are on periodic or fixed-term leases. SQM Research vacancy rate data for the Whitehorse LGA should also be reviewed as a market-level benchmark — tighter vacancy rates directly support rental income stability.

Financing Structure

Commercial and residential lending products apply differently to unit blocks depending on the number of dwellings and whether the title is torrens, strata, or company share. Investors should engage a mortgage broker experienced in commercial-residential hybrid transactions before approaching lenders, as loan-to-value ratios and serviceability calculations differ materially from standard residential mortgages.

Owners Corporation (Body Corporate)

If the block operates under a registered owners corporation, the OC fees, sinking fund balance, and any outstanding special levies become part of the investment’s operating cost structure. A thin sinking fund on a block with aging common infrastructure is a red flag that warrants price negotiation or specialist advice.

Investors comparing Nunawading to other Melbourne suburbs may find it useful to review analysis of blocks of units investment and development opportunities across Melbourne to benchmark the relative risk and return profile of this suburb against alternatives.

How Does Collings Real Estate Help Investors Buy Blocks of Units in Nunawading?

Collings Real Estate has been operating across Melbourne’s inner and middle-ring suburbs for decades, with a specialist focus on multi-unit and investment-grade residential property. Here is how the team supports investors through the acquisition process.

Off-Market Access

Many unit block transactions in Nunawading and surrounding suburbs never appear on public listing portals. Owners of older blocks often prefer a discreet sale to avoid tenant disruption or to minimise the time a property sits publicly on the market. Collings maintains an active off-market register of unit block vendors across Melbourne’s east. Investors can register for early access to these opportunities via the Collings off-market property portal.

Market Appraisal and Due Diligence Support

The Collings team draws on first-party sales data, rental records from the property management division, and suburb-level analytics from sources including DataVic, REIV, and ABS to provide investors with a grounded appraisal of any unit block under consideration. This goes beyond a simple comparable sales report and includes rental income modelling, vacancy scenario analysis, and council zoning confirmation.

Property Management Continuity

For investors who acquire a block through Collings, the property management division can assume management of existing tenancies from day one, ensuring continuity of rental income and compliance with the Residential Tenancies Act 1997 (Vic). This is particularly valuable for interstate investors or those new to managing multi-tenancy assets.

Broader Portfolio Strategy

Nunawading is one suburb within a broader eastern Melbourne investment corridor. Collings advisers routinely work with investors across multiple suburbs, and can provide comparative data on rental yields, vacancy rates, and capital growth trajectories to help investors decide whether Nunawading is the right fit — or whether an adjacent suburb better matches their return requirements. Investors interested in understanding how yield varies across Melbourne should also review the high rental yield suburbs Melbourne 2026 analysis for a broader perspective.

Frequently Asked Questions About Blocks of Units in Nunawading

What is the median unit price in Nunawading?

According to DataVic/REIV data (via Collings CRM), the median unit sale price in Nunawading for the April–June 2025 quarter was $839,000, representing a year-on-year increase of 21.5%.

What is the median rent in Nunawading?

ABS Census 2021 records a median rent of $391 per week for Nunawading. Current market rents may differ from this Census benchmark as conditions have tightened since 2021.

Are unit blocks in Nunawading a good investment?

Nunawading’s unit segment recorded a 21.5% year-on-year price increase to end-June 2025, a median household income of $1,938 per week, and a stable rental base. These fundamentals position Nunawading as a considered option for investors seeking middle-ring Melbourne exposure, subject to individual due diligence on specific blocks.

Can I access off-market unit block listings in Nunawading?

Yes. Collings Real Estate maintains an off-market register of unit blocks in Nunawading and surrounding suburbs. Investors can register via the Collings off-market portal to receive notifications before properties are publicly listed.

How do I contact Collings Real Estate about investing in Nunawading?

You can reach Collings Real Estate at 03 9486 2000, by email at info@collings.com.au, or in person at 230 Waterdale Road, Ivanhoe, VIC 3079. The team can discuss both on-market and off-market unit block opportunities across Nunawading and the broader eastern Melbourne corridor.

Ready to Enquire About Off-Market Unit Blocks in Nunawading?

Nunawading’s unit market delivered a standout 21.5% annual price gain to mid-2025, underpinned by a high-income tenant demographic, strong median rents, and a location within one of Melbourne’s key eastern redevelopment corridors. Whether you are acquiring your first multi-unit holding or adding to an existing portfolio, Collings Real Estate has the local data, off-market access, and management capability to support the full investment lifecycle. Contact the team today on 03 9486 2000, email info@collings.com.au, or register directly via the off-market portal to be among the first to hear about unit block opportunities in Nunawading.