Located in Victoria within the Glen Eira local government area, Carnegie is a settled mid-to-large suburb (postcode 3163). The area has roughly 17,909 residents and a mix of young professionals and families, with a median age of 36. Households earn a median income of $98K per year, with an average household size of 2.2 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.6% 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, managers, clerical & administrative. Employment in the area leans toward professional services and healthcare. The top ancestries reported are English, Australian, Chinese.
The median house price in Carnegie is $1.7 million, having risen by 2.4% over the past year. Units have a median price of $598,000 (-1% YoY). The current median weekly rent is $570. This gives a gross rental yield of approximately 1.7%. The median monthly mortgage repayment is $2,040.
Carnegie is served by 1 school, including 1 primary. The average ICSEA score is 1146, which is well above the national average of 1,000. Public transport access includes 3 rail stations, 62 bus stops. The crime rate in the Glen Eira LGA is moderate at 4,737 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 1.7%, which reads as low yield. Property prices are above the state median ($1.7M/$875K), placing it in the premium segment. The price-to-income ratio of 17.6x is considered stretched. House prices have moved +2.4% year-on-year. Population growth of +1.6% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.