Demand
Soft▼ falling
Confidence: Moderate
Selling times are 5.1% above the five-year norm. Latest reading 38.0 against a five-year average of 36.2.
- Latest
- 38
- 12 months ago
- 40.06
- 5-year average
- 36.16
- 5-year range
- 26.3 – 43.1
Fitzroy
A standing intelligence briefing: what the market is doing now, how that compares with its own five-year history, and the pipeline items that could change it.
- Median house
- $1,598,000
- Median unit
- $704,000
- Annual growth
- +1.2%
- Median rent
- $1,016
- Gross yield
- 3.3%
- Vacancy
- 1.9%
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APD View — Fitzroy
Fitzroy: conditions improving
Current data indicates conditions in Fitzroy are improving. 14 indicators across 5 analytical dimensions inform this reading, with 64% pointing the same way.
Direction
Improving
Confidence
High
Evidence strength
Strong
Direction describes where underlying conditions are moving. It is not a rating, a recommendation or a signal to transact — a market can be improving while remaining expensive, low-yielding or supply-exposed.
Why this confidence — Based on 14 indicators, 60 months of history, 64% of indicators pointing the same way, latest data 29 days old.
Evidence basis — Based on 14 indicators, 1 independent source, 60 months of history. Latest data 29 days old.
What changed
| Indicator | Now | 1 month | 1 quarter |
|---|---|---|---|
| 12-month price growth | 1.6% | 1.4% | 1.4% |
| Days on market | 38 days | 39 days | 41 days |
| Building approvals | 19.58 | 18.98 | 18.46 |
| Vacancy rate | 1.9% | 1.9% | 2.0% |
| Rental growth | 5.9% | 5.9% | 6.3% |
| Vendor discounting | -2.0% | -2.0% | -2.0% |
What supports this view
- Median rent — $1,016 against a historical average of $882. Advertised rents sit above the historical average for this market. Historical percentile: 98.
- Median house value — $1,602,449 against a historical average of $1,552,970. House values sit above the historical average for this market. Historical percentile: 98.
- Price-to-rent multiple — 30.33 against a historical average of 34.06. Prices are low relative to rents compared with the historical average. Historical percentile: 0.
- 12-month price growth — 1.6% against a historical average of 1.2%. Annual price growth is running above its historical average. Historical percentile: 88.
- Sales volume — 35.6 against a historical average of 28.85. Transaction volumes are running above the historical average. Historical percentile: 93.
- Vendor discounting — -2.0% against a historical average of -1.9%. Sellers are accepting smaller reductions than normal. Historical percentile: 7.
What works against it
- Building approvals argues the other way — Building approvals reads 20 against a 15 historical average (93th percentile), which works against the current reading.
- Advertised listings argues the other way — Advertised listings reads 78 against a 67 historical average (75th percentile), which works against the current reading.
- Rental growth argues the other way — Rental growth reads 5.9% against a 6.0% historical average (31th percentile), which works against the current reading.
- Building approvals — 19.58. Dwelling approvals are running above the historical average, pointing to more future supply. Historical percentile: 93.
- Advertised listings — 78.32. Advertised stock is above the historical average. Historical percentile: 75.
- Rental growth — 5.9%. Rental growth is running below its historical average. Historical percentile: 31.
- Vacancy rate — 1.9%. Rental availability is looser than the historical norm. Historical percentile: 52.
Market signals
Each signal compares the latest reading with the suburb's own five-year record
Price Momentum
Strong▲ rising
Confidence: High
Annual price growth is 30.8% above the five-year average. Latest reading 1.6 against a five-year average of 1.2.
- Latest
- 1.57
- 12 months ago
- 1.09
- 5-year average
- 1.2
- 5-year range
- .5 – 1.7
Rental Conditions
Soft▼ falling
Confidence: Moderate
Vacancy is running 5.6% above the historical average. Latest reading 1.9 against a five-year average of 1.8.
- Latest
- 1.9
- 12 months ago
- 2.06
- 5-year average
- 1.8
- 5-year range
- 1.3 – 2.2
Rental Pressure
Neutral▲ rising
Confidence: Low
Rental growth is in line with the five-year average. Latest reading 5.9 against a five-year average of 6.0.
- Latest
- 5.93
- 12 months ago
- 5.95
- 5-year average
- 6.03
- 5-year range
- 5.3 – 6.7
Affordability
Firm▼ falling
Confidence: High
The price-to-rent multiple sits 11.0% below its five-year average. Latest reading 30.3 against a five-year average of 34.1.
- Latest
- 30.33
- 12 months ago
- 31.63
- 5-year average
- 34.06
- 5-year range
- 30.3 – 38.2
Supply
Weak▼ falling
Confidence: High
Advertised stock is 17.3% above the five-year average. Latest reading 78.3 against a five-year average of 66.8.
- Latest
- 78.32
- 12 months ago
- 66.22
- 5-year average
- 66.76
- 5-year range
- 48.4 – 81.1
Liquidity
Strong▲ rising
Confidence: High
Transaction volumes are 23.4% above the five-year average. Latest reading 35.6 against a five-year average of 28.9.
- Latest
- 35.6
- 12 months ago
- 27.16
- 5-year average
- 28.85
- 5-year range
- 20.8 – 36.4
Population Growth
Firm▼ falling
Confidence: Moderate
Population growth is 4.5% above the longer-run average. Latest reading .9 against a five-year average of .9.
- Latest
- 0.92
- 12 months ago
- 0.89
- 5-year average
- 0.88
- 5-year range
- .8 – 1.0
Development Risk
Weak▲ rising
Confidence: High
Dwelling approvals are 31.2% above the five-year average. Latest reading 19.6 against a five-year average of 14.9.
- Latest
- 19.58
- 12 months ago
- 12.91
- 5-year average
- 14.92
- 5-year range
- 10.1 – 20.0
Investor Activity
Neutral▼ falling
Confidence: Low
Gross yields are 3.4% above the five-year average. Latest reading 3.3 against a five-year average of 3.2.
- Latest
- 3.3
- 12 months ago
- 3.19
- 5-year average
- 3.19
- 5-year range
- 2.9 – 3.5
Indicators
Latest reading against one, three and five years ago
| Indicator | Latest | 1yr | 3yr | 5yr | 5yr avg | 5yr range |
|---|---|---|---|---|---|---|
| Median house priceMiddle sale price for houses over the trailing twelve months. | $1,602,449 | +1.6% | +3.6% | +6.1% | $1,552,970 | $1,507,617 – $1,602,449 |
| 12-month price growthTwelve-month change in median house price. | 1.6% | +44.0% | -4.8% | — | 1.2% | 0.5% – 1.6% |
| Median unit priceMiddle sale price for units and apartments over the trailing twelve months. | $705,262 | +0.6% | +2.5% | +4.0% | $689,641 | $673,838 – $705,262 |
| Median weekly rentMiddle advertised weekly rent across all dwelling types. | 1,016 | +5.9% | +19.8% | +33.5% | 882 | 761 – 1,016 |
| Rental growthTwelve-month change in median advertised weekly rent. | 5.9% | -0.3% | +4.4% | — | 6.0% | 5.3% – 6.7% |
| Gross rental yieldAnnual gross rent as a share of median dwelling value. | 3.3% | +3.4% | +6.5% | +6.8% | 3.2% | 2.9% – 3.5% |
| Price-to-rent multipleMedian house price divided by annual median rent. | 30 | -4.1% | -13.5% | -20.5% | 34 | 30 – 38 |
| Vacancy rateShare of rental stock advertised and unlet. | 1.9% | -7.8% | +18.0% | +13.1% | 1.8% | 1.3% – 2.2% |
| Sales volumeNumber of dwelling transactions settled in the month. | 36 | +31.1% | +6.6% | +62.0% | 29 | 21 – 36 |
| Total listingsDwellings advertised for sale at month end. | 78 | +18.3% | +12.7% | +41.9% | 67 | 48 – 81 |
| Days on marketMedian time from listing to sale. | 38 days | -5.1% | +18.2% | +11.0% | 36 days | 26 days – 43 days |
| Vendor discountMedian gap between first asking price and sale price. | -2.0% | -14.6% | -4.1% | -26.7% | -1.9% | -2.1% – -1.6% |
| Auction clearanceShare of scheduled auctions reported sold. | 64.1% | -1.1% | +4.9% | +10.4% | 61.6% | 55.4% – 66.7% |
| Population growthAnnual resident population change. | 0.9% | +3.4% | +4.5% | +13.6% | 0.9% | 0.8% – 1.0% |
| Building approvalsDwellings approved for construction in the month. | 20 | +51.7% | +7.1% | +92.5% | 15 | 10 – 20 |
Source: Australia Property Data derived series (anchored to current market metrics). Percentage columns show the change from that point to the latest observation.
History
Monthly observations, last five years
Source: Australia Property Data derived series (anchored to current market metrics)
Source: Australia Property Data derived series (anchored to current market metrics)
Source: Australia Property Data derived series (anchored to current market metrics)
Source: Australia Property Data derived series (anchored to current market metrics)
What could change this market?
- Transport
Suburban Rail Loop East
Under construction · 2035
Reshapes access between middle-ring employment centres and lifts development capacity around six new stations.
Tunnelling underway between Cheltenham and Box Hill; precinct structure planning continues alongside.
- Transport
Metro Tunnel precinct uplift
Operating · Now
New CBD-fringe stations are already redirecting rental demand and apartment supply.
Station catchments at Parkville, Anzac and Arden are the focus of rezoning activity.
- Planning reform
Activity centre rezoning program
Announced · 2026-2028
Higher permitted densities across dozens of centres change the medium-term apartment pipeline.
Watch approval volumes in nominated centres for early supply signals.
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