Why now is the best time to buy a unit in Blackburn

With price drops happening across the city, some experts are saying it’s the best time to buy since 2012. What’s more, they’ve singled out Blackburn as a particularly good suburb to buy a unit, with median unit prices falling 15.4% but growth potential still strong for the future. Let’s take a look at the opportunity currently up for grabs in Blackburn.

What’s happening in Melbourne’s property market?
Property prices have been steadily increasing in Melbourne for the past six years, with median prices almost doubling in some parts of the city. But after such astronomical growth, the market has finally hit a slowdown, partly due to changes to credit conditions.

But while some buyers think a slowing market is a no-go zone, it can actually be the opposite. Buyers who purchase a great property now can expect to get a better price than they would at the market’s peak, plus they’ll enjoy really positive growth again in the medium- to long-term if they buy a quality property in an area like Blackburn. The market won’t be flat forever, so buyers who plan to hold on to their property for at least five years will likely reap the benefits down the track.

It’s important to highlight that a drop in median prices doesn’t necessarily equal bargain territory – vendors are still seeing good prices being achieved and overall growth over time has been strong. Instead, the market offers a little more balance and tips the opportunity back towards buyers for the first time in a while. So investors and owner occupiers should take note.

So why is Blackburn the best place to buy in Melbourne’s East?
With this price correction happening all over the city, and even all over Australia, why is Blackburn a particularly good spot to take advantage of? To start, the 15.4% median price decrease for units is among the highest in the city, according to data from CoreLogic. Only Essendon North has experienced a greater decrease, recording a 16.8% drop in median price.

But Blackburn’s appeal at the moment is about more than just a price win. There are great schools, good public transport services for easy commuting, beautiful parks and everything you could ask for in the way of shops and amenities. Convenience and lifestyle play huge roles in growth potential, so buyers snapping up units will experience Blackburn’s benefits now, as well as into the future when it’s time to sell.

The units themselves also offer more comfort than in other suburbs, with many on sub-divided lots instead of in big apartment complexes. Floor plans are often more spacious, prices are much more reasonable and there are regularly extra features like second bathrooms, garages and even backyards.

The details on buying in Blackburn
According to REA Group data, units in Blackburn are currently selling for a median price of $518k, though those with smaller budgets will find great opportunities for one-beds at around $375k. There are still good opportunities for investors looking for long-term opportunities; overall rental yield for units is currently at 3.9% with average demand, while those one-bedrooms are even better at 4.9% for yield and high demand. This is an opportunity not to be missed.

Share:

More Posts

ELEVATE 2025

ELEVATE 2025 delivered an incredible day of learning, inspiration and connection. From powerhouse speakers to real-world insights, our team came away motivated and equipped to finish the year strong. Here’s a look at some of the moments that made it special. Thinking about your next move? Discover what a career at Noel Jones could look like here

Market Update | June 2025 Edition

Australia’s inflation remains steady, with annual growth at 2.4% in April. Underlying inflation, which is the Reserve Bank’s key indicator also sits comfortably within the 2–3% target range, coming in at 2.8%. In response, the RBA reduced the cash rate by 0.25% in May, bringing it down to 3.85%. This marks the second cut this year, providing relief to mortgage

Meet Our June CSP Grant Recipient

Meet Our June CSP Grant Recipient We’re proud to announce Box Hill City Band as the recipient of our June Community Support Grant. This talented group of young musicians, Box Hill Academy Brass, has won the Australian National Band Championships two years in a row and is now preparing to represent Australia at the prestigious New Zealand Brass Band Championships

Meet Our May CSP Grant Recipient

Meet Our May CSP Grant Recipient Since launching the Noel Jones Community Support Program, we’ve proudly contributed over $45,000 across 30 grants to local groups and initiatives. From schools and sports clubs to charities and community organisations, these grants have helped support education, health, and social impact programs throughout our neighbourhoods. Our May 2025 grant has been awarded to Chirnside

Send Us A Message

Good Job!

Thanks for taking the time to let me know about your needs.

I look forward to helping you find your new home.​

Buyer Requirements

Thank you!

I’ll be in touch soon with information on the suburb you’re buying in.

Find Out More