Northcote and Richmond are two of Melbourne’s most consistent inner-suburb investment performers. Both are within 5km of the CBD, both have strong cafe and lifestyle strips, and both have maintained strong tenant demand for over a decade. The key difference is price point, yield profile and the type of buyer each suburb attracts.
| Metric | Northcote | Richmond |
|---|---|---|
| Median House Price | $1,724,500 | $1,380,000 |
| Median Unit Price | $600,000 | $580,000 |
| Gross Yield (House) | 1.4% | 2.1% |
| Gross Yield (Unit) | 3.5% | 4.2% |
| 5-Year Growth | 32% | 29% |
| Walk Score | 100 | 97 |
| GeeVee Score | 8.2/10 | 7.9/10 |
GeeVee Verdict
Northcote wins on five-year capital growth, walk score and overall GeeVee score. Richmond wins on house yield, unit yield and lower entry price for houses. For investors prioritising income, Richmond units at $580,000 with 4.2% yield are the stronger play. For long-term capital growth, Northcote houses have outperformed every comparable inner-north suburb over the past decade.
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