Brighton is a sizeable suburb in Victoria within the Bayside (Vic.) local government area (postcode 3186). With a population of 23,252, the suburb has a settled, mature resident base with a median age of 48. Households earn a median income of $141K per year, with an average household size of 2.4 people. 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, managers, clerical & administrative. Employment in the area leans toward professional services and healthcare. The top ancestries reported are English, Australian, Irish.
Median house prices in Brighton stand at $3.4 million, having increased by 3.8% over the last twelve months. Units have a median price of $1.6 million (+21.6% YoY). The current median weekly rent is $825. This gives a gross rental yield of approximately 1.3%. The median monthly mortgage repayment is $3,467.
Brighton is served by 8 schools, including 5 primary, 1 secondary, 2 combined. The average ICSEA score is 1147, which is well above the national average of 1,000. Public transport access includes 17 rail stations, 107 bus stops. Healthcare facilities include 2 private hospitals. The crime rate in the Bayside (Vic.) LGA is moderate at 5,194 incidents per 100,000 population.
Looking at the investment signals, The gross rental yield works out to roughly 1.3%, which reads as low yield. Property prices are above the state median ($3.4M/$875K), placing it in the premium segment. The price-to-income ratio of 24.2x is considered stretched. House prices have moved +3.8% year-on-year.