Hawthorn

Hawthorn is where old-money Melbourne is most visible, grand Victorian and Edwardian homes on tree-canopied streets, and an extraordinary concentration of the city's elite schools, from Scotch College to Methodist Ladies' College. Glenferrie Road runs through the middle of it, a busy strip of cafes, bars and shops energised by the Swinburne University campus and the students who fill the area's apartments. That dual character drives the investment story: houses are a prestige, low-yield, capital-growth asset, while well-located apartments deliver some of the inner-east's best rental yields at around 5%, fed by students and young professionals. Victoria's land-tax regime is the main drag on net returns. For overseas investors, the 2025 ban on established dwellings rules out the period houses entirely, pointing them toward FIRB-approved new apartment stock near Glenferrie and the campus.

Hawthorn in Melbourne, Victoria, Australia