Suburb Deep Dives · 28 October 2026 · 7 min read
Fitzroy North (VIC 3056) in Focus 2026: Is It a Good Investment? R-Score 83/100, 3.4% Yield & Best Streets
Data analysis by the Ripehouse research desk · Reviewed by Anna Cooper, Co-Founder & COO, former Managing Editor of Australian Property Investor Magazine
Is Fitzroy North (VIC 3056) a good suburb to invest in 2026? Our October 2026 quantitative audit scores Fitzroy North at 83/100 (Ranked #2,636 of 15,286 suburbs), with a $1,630,000 median house price (+9.4% 12m), $1050/wk rent (3.4% yield), and 1 top-tier streets scoring 75–100/100.
Market Classification: Affluent Owner-Occupier Upgrader Market · R-Score: 83/100 (National Rank #2,636 of 15,286) · Street Average: 18/100 across 111 streets.
Fitzroy North is an established, high-income owner-occupier market where land scarcity and school/amenity appeal drive long-term capital values ($1,630,000 median). Because gross rental yields sit at 3.4%, this is not a cashflow play—it is a scarcity and land-banking market suited to high-income investors or rentvestors who prioritise street-level prestige and long-term compounding over immediate net yield.
“I would not let the 1.3% vacancy rate distract from the 3.4% gross yield. The rental market is tight, but the median house still carries negative $862 weekly cashflow at 80% LVR. I would be selective on streets and very clear about the holding-cost buffer.”
Below is our full October 2026 quantitative and street-level breakdown for Fitzroy North (VIC 3056), combining 36 months of settled price and rental history from our Aurora research warehouse, council-level supply and employment data for Yarra (VIC), and block-by-block ABS 2021 Census SA1 tenure and yield rankings across 8,488 residential addresses.
1. Fitzroy North (VIC) 3-Year Market Trajectory & 27-Indicator R-Score (October 2026)
Over the past 12 months, Fitzroy North’s median house price moved +9.4% (from $1,490,000 to $1,630,000), bringing its 3-year cumulative price movement to +12.9% (from $1,444,000 three years ago). On the rental side, median weekly asking rents moved +23.5% over the past year to $1050/wk (+23.8% over 36 months), equating to a 3.4% gross rental yield. Compared with 12 months ago—when Fitzroy North carried an R-Score of 87/100—its current composite R-Score of 83/100 represents a -4-point shift in underlying market pressure.
| Indicator / R-Score Pillar | Fitzroy North (VIC) Current | 12-Month / 36-Month Context |
|---|---|---|
| Composite Suburb R-Score | 83 / 100 | Ranked #2,636 of 15,286 suburbs (was 87/100 12m ago) |
| Median House Price | $1,630,000 | 12m change: +9.4% · 36m change: +12.9% |
| Median Weekly Rent & Gross Yield | $1050/wk (3.4%) | 12m rent change: +23.5% · 36m rent change: +23.8% |
| Rental Vacancy & Days on Market | 1.3% vacancy | Median selling time: 60 days on market (1.5% vacancy is the tight-market line) |
| Pillar 1: Buyer Demand | 33 / 100 | Measures days-on-market compression, vendor discounting & sales velocity |
| Pillar 2: Supply & Ownership | 29 / 100 | Measures stock on market, building approvals vs stock & owner-occupier share |
| Pillar 3: Price Momentum | 74 / 100 | Measures short/medium-term price velocity vs Yarra & VIC |
| Pillar 4: Yield Pressure | 61 / 100 | Measures gross rental yield, rent trajectory & vacancy compression |
2. The “Two-Speed Suburb” Test: Best & Worst Streets in Fitzroy North (VIC)
Why do two 4-bedroom houses in Fitzroy North achieve completely different bank valuations and tenant quality? Because suburb medians blend every pocket together. When we map all 8,488 addresses across 111 streets in Fitzroy North through G-NAF to their ABS 2021 Census SA1 blocks, the suburb splits into three distinct tiers:
- Strong Street Profile (Score 75–100): 1 streets (1% of scored streets) pass both ABS Census tenure tests (owner-occupiers >65% and public housing ≤5%) plus at least one—or both—of the Fitzroy North rent and yield benchmarks.
- Mid / Mixed Street Profile (Score 50–74): 1 streets pass the core owner-occupier and public-housing thresholds but sit below the suburb median on weekly rent or yield.
- Weaker / Caution Street Profile (Score 0–25): 88 streets fail one or both census tenure thresholds—meaning either owner-occupation sits at or below 65% or state/community public housing exceeds 5% on those specific SA1 blocks.
Top 5 Highest-Scoring Streets in Fitzroy North (VIC)
These streets sit in SA1 census blocks with high homeowner pride of ownership, minimal social housing concentration, and strong block-level rents (inspect all 111 streets in Fitzroy North):
| Top Street in Fitzroy North | Street Score | Addresses | Owner-Occupiers | Public Housing | SA1 Rent & Yield |
|---|---|---|---|---|---|
| #1 Woodside Street | 75/100 | 51 | 70% | 0% | $940/wk (3.1%) |
| #2 Tharra Lane | 50/100 | 15 | 67% | 0% | — (—) |
| #3 Michael Street | 47/100 | 83 | 64% | 0% | $695/wk (2.7%) |
| #4 Falconer Street | 40/100 | 83 | 62% | 1.3% | $779/wk (3.3%) |
| #5 Rushall Crescent | 38/100 | 96 | 59% | 2.9% | $594/wk (4.9%) |
Streets Where Block-Level Tenure Trails the Fitzroy North Average
By contrast, the streets below run through SA1 census blocks that fail one or more of our tenure or rental tests. A lower Street Score is not a judgement of any individual house, but it highlights where higher renter turnover or public housing concentration exists within Fitzroy North:
| Caution Street Sample | Street Score | Addresses | Owner-Occupiers | Public Housing | SA1 Median Rent |
|---|---|---|---|---|---|
| Boston Place | 0/100 | 42 | 18% | 39.4% | $660/wk |
| Annand Street | 0/100 | 27 | 18% | 39.4% | $660/wk |
| Salisbury Crescent | 0/100 | 25 | 18% | 39.4% | $660/wk |
3. Economic & Supply Drivers in Yarra Council (Victoria)
Fitzroy North sits within the Yarra Local Government Area, which has a residential population of approximately 101,356 (+10.4% population movement over the past 3 years) and 44,033 total dwellings. Three council-level fundamentals shape Fitzroy North’s medium-term outlook:
- Local Employment Diversity (ABS Census): The largest employment sectors across Yarra are Health Care and Social Assistance (18%), Professional, Scientific and Technical Services (15%), Retail Trade (12%), Accommodation and Food Services (8%). Multi-sector employment reduces reliance on any single employer or commodity cycle.
- New Building Approvals vs. Existing Stock: Over the latest 12-month financial year, Yarra approved 2.8% new dwelling stock (~1,313.454 dwellings). Because new approvals exceed 1.8% of stock, investors in Fitzroy North must avoid generic greenfield house-and-land pockets and stick to established, built-out streets.
- Tracked Infrastructure Pipeline: Yarra currently has $2.9 billion in tracked major infrastructure projects (placing it in the 63th percentile of Australian councils).
4. Worked Cashflow, Deposit & 80% LVR Stress-Test for Fitzroy North (October 2026)
What does it actually cost to acquire and hold a typical house in Fitzroy North at today’s median price of $1,630,000 and median rent of $1050/wk? Below is the baseline 80% Loan-to-Value Ratio (LVR) model we use to stress-test serviceability before shortlisting a property:
| Cashflow & Capital Item | Fitzroy North Worked Figure | Assumptions & Notes |
|---|---|---|
| Purchase Price (Suburb Median) | $1,630,000 | Settled house median as of October 2026 |
| 20% Deposit + Est. Stamp Duty & Costs | $404,240 | $326,000 deposit (80% LVR) + ~$78,240 stamp duty, legal & inspection allowance (can be funded via usable home equity) |
| 80% LVR Loan Amount | $1,304,000 | Standard no-LMI investor loan threshold |
| Gross Annual Rental Income | $54,600/yr ($1050/wk) | 3.4% gross rental yield before vacancies and expenses |
| Est. Annual Interest + Operating Costs | $99,430/yr | Assumes 6.25% interest-only ($81,500/yr) + ~1.1% for council rates, insurance & property management ($17,930/yr) |
| Pre-Tax Weekly Cashflow Position | -$862/wk top-up | Before tax deductions / depreciation (confirm post-tax position with your accountant) |
5. Who Should Buy in Fitzroy North—And 3 Rules Before You Make an Offer
High Land Scarcity and Deep Homeowner Wealth, But Cashflow-Intensive. Based on our October 2026 data, Fitzroy North is best suited to higher-income professionals, medical practitioners, and upgraders with strong cashflow buffers targeting scarce land in an owner-occupier dominated suburb.
- Never Buy Blind on the Suburb Median: In Fitzroy North, 88 streets score below 50/100 on our census tenure and yield tests. Always run the exact street through the Fitzroy North Street Score Hub and target the 1 streets scoring 75–100/100.
- Check Lot-Level Overlays (Flood, Bushfire, Slope & Easements): Even on a 100/100 streetlike Woodside Street, individual lots can carry overland flow paths, steep gradients, or sewer easements that restrict granny-flat additions or spike insurance premiums.
- Price Against Street-Matched Settled Comparables: Do not let a selling agent justify an asking price on a 25/100 street using comparable sales from a 100/100 street. Compare settled sales within the same SA1 Street Score band.
If there's a specific street you're weighing up right now, check its Street Score first — it's free, takes ten seconds, and tells you whether that street is pulling the suburb average up or riding on it.
Market data & R-Scores for locations in this article
Drill Down Into the Markets Mentioned Above
Inspect live monthly R-Scores, median prices, rental yields, and street-by-street scores for the cities and council areas referenced in this article:
Frequently asked questions
Is Fitzroy North (VIC 3056) a good suburb for property investment in 2026?
As of October 2026, Fitzroy North (VIC 3056) scores 83/100 on the 27-indicator Ripehouse R-Score (ranked #2,636 of 15,286 Australian suburbs). It is classified as a Affluent Owner-Occupier Upgrader Market with a median house price of $1,630,000, median rent of $1050/wk (3.4% gross yield), and vacancy rate of 1.3%.
How have house prices and rents performed in Fitzroy North over the past 1 to 3 years?
Over the past 12 months, Fitzroy North’s median house price moved +9.4% to $1,630,000, and +12.9% over the past 36 months. Median weekly asking rents moved +23.5% over the past year to $1050/wk (3.4% gross yield).
What are the highest and lowest scoring streets in Fitzroy North, VIC?
Across 111 streets (8,488 addresses) in Fitzroy North, 1 streets score 75 to 100 on the Ripehouse Street Score, led by Woodside Street (75/100, 70% owner-occupied), Tharra Lane (50/100, 67% owner-occupied), Michael Street (47/100, 64% owner-occupied). Meanwhile, 88 streets score below 50 due to lower owner-occupation or public housing concentration above 5%.
How much deposit and weekly cashflow is needed to buy a median house in Fitzroy North?
At Fitzroy North’s median house price of $1,630,000, an 80% LVR purchase ($1,304,000 loan) requires approximately $404,240 in cash or usable home equity ($326,000 deposit plus around $78,240 for stamp duty and acquisition costs). At $1050/wk rent and a 6.25% interest-only benchmark, estimated pre-tax cashflow is -$862/wk before tax deductions.
What is the housing supply pipeline and economic profile of Yarra Council?
Fitzroy North is located in the Yarra (VIC) Local Government Area (population around 101,356, +10.4% 3yr growth). Annual building approvals sit at 2.8% of existing dwelling stock. Tracked major infrastructure spend is $2.9B. Top employment sectors are Health Care and Social Assistance (18%), Professional, Scientific and Technical Services (15%), Retail Trade (12%).
General information only. It does not take your objectives, financial situation or needs into account, and nothing here is legal, financial, taxation or investment advice specific to your circumstances.