Where I See Value Right Now: Windsor Looks Unmissable

Sometimes the numbers hit so hard they make you pause, not just as an advisor, but as a potential buyer. That’s exactly what happened recently when I found myself playing both roles. While helping others navigate the Melbourne market from afar, I unexpectedly became my own client. And the suburb that pulled me in? Windsor.

Windsor doesn’t need much of an introduction. With its village-like streetscapes tucked just behind Chapel Street, buzzing cafes, city access, and classic Melbourne character, it's a lifestyle suburb that balances grit and polish. But here’s the kicker: for all its appeal, Windsor is quietly offering some of the best value we’ve seen in years.

Let’s break it down. The median house price in Windsor is currently $1,315,000, down 11.1% over the past 12 months, back to where it was in July 2020. That’s remarkable when you consider how values have moved in other capitals. For a suburb this close to the CBD, with this level of amenity and walkability, it felt like a moment worth seriously considering.

Then there’s the apartment market. Windsor units are sitting at a median value of $535,500, down 5.6% year-on-year. The one I was looking at had a projected 7.95% gross yield, and that got my full attention. I’ve long considered 8% gross yield as the base rate of real value. That’s where cash buyers start stepping in, and where yield begins to underpin pricing. It’s not just a number, it’s a signal.

Even though we didn’t go through with the purchase, the confidence was there. The numbers added up. The suburb ticked every box. And the insight I took from that process is the same one I now share with clients: Windsor and Melbourne more broadly are at the front end of a new growth cycle.

In a market like this, time and timing are not the same. The market won’t announce the bottom until it’s already passed. But this kind of yield, in a premium, world-class location, with real lifestyle upside? That’s not something you see in a hot market. It’s what you see just before it heats up.

For expats earning in stronger currencies, the weak Aussie dollar makes this moment even more compelling. From a distance, it’s easy to feel disconnected. But the data is telling a very connected story: Melbourne is full of quiet value, and Windsor is one suburb that’s speaking up.

You don’t have to buy every time the numbers make sense. But when you find yourself close? It’s usually because you’re seeing the right signals.