Boronia (postcode 3155) is a large suburb in Victoria within the Knox local government area. It is home to about 23,607 residents, with an established family demographic and a median age of 39. Households earn a median income of $84K per year, with an average household size of 2.4 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.5% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, technicians & trades, clerical & administrative. Employment in the area leans toward healthcare and construction. The top ancestries reported are English, Australian, Irish.
Boronia has a median house price of $850,000, which has eased back by 0.6% year-on-year. Units have a median price of $653,000 (-1.1% YoY). The current median weekly rent is $560. This gives a gross rental yield of approximately 3.4%. The median monthly mortgage repayment is $1,870.
Boronia is served by 6 schools, including 4 primary, 1 secondary, 1 combined. The average ICSEA score is 1015, which is around the national average of 1,000. Public transport access includes 8 rail stations, 108 bus stops. Healthcare facilities include 1 private hospital. The crime rate in the Knox LGA is moderate at 6,424 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 3.4% (moderate yield). Property prices are near the state median ($850K/$875K). The price-to-income ratio of 10.1x is considered stretched. House prices have moved -0.6% year-on-year. Population growth of +0.5% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.