The Nunawading rental yield for houses sits at approximately 1.7% gross and for units closer to 2.4% gross, based on current median sale prices and the ABS Census 2021 median rent benchmark for the suburb. Those headline numbers deserve careful unpacking, because the full picture for investors in Nunawading in 2026 is more nuanced and, in many cases, more compelling than those gross figures suggest.

Nunawading is a well-established middle-ring suburb in Melbourne’s eastern corridor, roughly 18 kilometres from the CBD. It sits within the City of Whitehorse and benefits from excellent arterial road access, proximity to Box Hill’s commercial hub, and consistent demand from families, downsizers, and renters alike. For investors weighing up investment properties in Melbourne, Nunawading offers a blend of capital stability and reliable rental demand that warrants close attention.

What Is the Nunawading Rental Yield in 2026?

To calculate gross rental yield accurately, you divide annual rental income by the property’s purchase price, then multiply by 100. Using the most current data available, here is how Nunawading stacks up:

House Yield Calculation

• Median house sale price: $1,180,000 (April to June 2025 quarter, DataVic/REIV)
• ABS Census 2021 median rent for Nunawading: $391 per week
• Annualised rent: $391 x 52 = $20,332
• Gross yield: $20,332 / $1,180,000 = approximately 1.72%

Unit Yield Calculation

• Median unit sale price: $839,000 (April to June 2025 quarter, DataVic/REIV)
• Estimated unit rent (above suburb median): approximately $420 to $450 per week for a modern 2-bedroom unit, consistent with current eastern suburbs leasing activity
• Annualised rent at $435/wk: $22,620
• Gross yield: $22,620 / $839,000 = approximately 2.70%

It is worth noting that the ABS Census 2021 median rent of $391 per week for Nunawading reflects all rental dwellings across the suburb at a point in time. Current asking rents for newer units and townhouses are generally higher. Investors should obtain current leasing appraisals from a local property manager to model accurate forward yields before purchasing.

For context on how these numbers compare across the city, the highest rental yield suburbs in Melbourne for 2026 typically range from 3.5% to 5.5% gross, which illustrates that Nunawading is a capital-growth-oriented suburb rather than a pure yield play.

What Do the Numbers Say About Nunawading Property in 2026?

Digging into the data paints a clear portrait of what kind of suburb Nunawading is for investors.

Median Sale Prices and Recent Trends

According to DataVic/REIV data (via Collings CRM), the April to June 2025 quarter recorded:

• Median house price: $1,180,000 (down 4.8% quarter-on-quarter, up 0.4% year-on-year)
• Median unit price: $839,000 (down 0.3% quarter-on-quarter, up an extraordinary 21.5% year-on-year)

The unit segment’s 21.5% annual price growth is a standout figure. It reflects strong buyer competition for well-located, lower-entry-price stock in Nunawading, particularly as affordability pressure pushes buyers east from inner-city suburbs. For investors, this means the unit market has absorbed significant capital growth recently, which compresses gross yield but also signals that the asset class is in demand.

Demographics Supporting Rental Demand

According to ABS Census 2021, Nunawading has:

• Population: 12,413
• Median age: 39.0 years (an established, working-age community)
• Median household income: $1,938 per week
• Median rent: $391 per week

A median household income of $1,938 per week means Nunawading renters are generally financially capable of meeting market rents, reducing the risk of arrears and vacancy. The suburb’s relatively mature age profile also suggests a stable, longer-tenancy renter cohort, which is operationally attractive for investors.

Net Yield: What Investors Actually Take Home

Gross yield is only part of the story. Net yield accounts for holding costs including council rates, water rates, insurance, property management fees, maintenance, and land tax where applicable. As a general guide, net yield runs approximately 0.8 to 1.2 percentage points below gross yield. For a Nunawading unit generating approximately 2.70% gross, net yield would be in the range of 1.5% to 1.9%. For a house at 1.72% gross, net yield would be lower still.

The ATO’s rental property guidelines confirm that investors can deduct most property expenses against rental income, and depreciation on newer properties can meaningfully improve after-tax cash flow. Investors should consult a qualified accountant familiar with ATO rental property rules before making purchasing decisions.

What Are the Key Considerations for Investing in Nunawading?

Understanding the Nunawading rental yield figure is only the first step. Here are the strategic factors that experienced investors weigh before committing capital to this suburb.

Capital Growth vs. Yield Trade-Off

Nunawading is not a high-yield suburb in the traditional sense. With gross house yields under 2%, investors are primarily buying for capital growth rather than income. The 0.4% year-on-year house price growth and the 21.5% unit price surge in 2025 demonstrate that the suburb can deliver strong capital returns, particularly in the unit segment. Investors with a medium-to-long horizon of 7 to 10 years are likely better positioned to benefit from that growth curve.

Unit Blocks as an Investment Strategy

One strategy gaining traction among sophisticated investors in Melbourne’s middle ring is acquiring entire blocks of units in Melbourne rather than individual dwellings. Owning multiple tenancies on a single title can diversify vacancy risk and improve net yield through economies of scale on management and maintenance. Nunawading’s established residential density makes it a viable target market for this approach.

Vacancy Rates and Rental Demand

SQM Research’s broader eastern Melbourne data shows vacancy rates across the Whitehorse local government area have remained tight, consistently below 2.0% through 2024 and into 2025. Low vacancy means well-presented properties in Nunawading lease quickly, supporting income continuity for investors.

Infrastructure and Liveability Drivers

Nunawading benefits from the Mitcham and Nunawading train stations on the Belgrave and Lilydale lines, direct tram access via Route 75, and proximity to Eastland and Box Hill’s extensive retail and medical precincts. These liveability factors sustain rental demand and underpin long-term property values. CoreLogic data consistently shows that well-connected middle-ring suburbs with good schools and retail access outperform less-connected peers over ten-year horizons.

Comparing to Neighbouring Suburbs

Investors weighing Nunawading against comparable suburbs should consider the rental yield in Northcote and other established Melbourne suburbs to benchmark yields and capital growth profiles side by side. Each suburb has a different risk-return mix, and comparing them quantitatively is essential before committing to any single location.

How Does Collings Real Estate Help Investors in Nunawading?

Collings Real Estate is a Melbourne-based property advisory, sales, and property management firm with deep experience in identifying investment-grade properties across both inner and middle-ring suburbs. Our team works with investors at every stage of the acquisition and management process, from initial yield modelling and suburb analysis through to leasing, tenant management, and portfolio review.

What Collings Offers Nunawading Investors

• Current leasing appraisals to validate rental income assumptions before purchase
• Off-market access to investment stock that never reaches the public portals, reducing purchase price competition
• Portfolio strategy sessions with senior property strategists who understand Whitehorse market dynamics
• Ongoing property management with transparent reporting and proactive maintenance coordination
• Investment pipeline access through the Collings investor portal

Investors interested in accessing Collings’ off-market pipeline and suburb intelligence can register at the Collings investor portal to receive matched opportunities before they are publicly listed.

To speak directly with a member of the team, contact Collings Real Estate at 03 9486 2000, email info@collings.com.au, or visit the office at 230 Waterdale Road, Ivanhoe VIC 3079.

Frequently Asked Questions About Nunawading Rental Yield

What is the gross rental yield for a house in Nunawading?

Based on a median house price of $1,180,000 (April to June 2025 quarter, DataVic/REIV) and the ABS Census 2021 median rent of $391 per week, the gross rental yield for a house in Nunawading is approximately 1.72%. This reflects Nunawading’s positioning as a capital-growth suburb rather than a high-yield income market.

What is the gross rental yield for a unit in Nunawading?

With a median unit price of $839,000 (April to June 2025 quarter, DataVic/REIV) and estimated current rents of approximately $435 per week for a modern 2-bedroom unit, gross yield is approximately 2.70%. Net yield after holding costs would be lower, typically in the 1.5% to 1.9% range.

Is Nunawading a good suburb to invest in for rental income?

Nunawading offers modest gross yields below the Melbourne metro average for high-yield suburbs, but compensates with strong capital growth potential, tight vacancy rates, and a high-income renter demographic. The unit segment recorded 21.5% price growth year-on-year to June 2025, signalling strong underlying demand.

What is the median rent in Nunawading?

According to ABS Census 2021, the median rent in Nunawading is $391 per week. Current asking rents for newer properties are generally higher, particularly for modern 2-bedroom and 3-bedroom units, and investors should obtain a current leasing appraisal for accurate yield modelling.

How can I find investment properties in Nunawading?

Collings Real Estate provides access to both on-market and off-market investment properties across Melbourne’s middle ring, including Nunawading. Register via the Collings investor portal or call 03 9486 2000 to speak with a property strategist.

In summary, the Nunawading rental yield story in 2026 is one of moderate income returns paired with demonstrable capital growth, particularly in the unit segment. Investors who understand that trade-off and take a long-term view are well positioned to benefit from this suburb’s established demand drivers, infrastructure quality, and demographic strength. Talk to a Collings property strategist today to model the numbers for your specific investment scenario.