Chelsea is a mid-sized suburb in Victoria within the Kingston (Vic.) local government area (postcode 3196). With a population of 8,347, the suburb has a settled mid-life population with a median age of 41. Households earn a median income of $88K per year, with an average household size of 2.2 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 healthcare and education. The top ancestries reported are English, Australian, Irish.
Median house prices in Chelsea stand at $1.2 million, having increased by 2.5% over the last twelve months. Units have a median price of $705,000 (+1.4% YoY). The current median weekly rent is $620. This gives a gross rental yield of approximately 2.7%. The median monthly mortgage repayment is $2,008.
Chelsea is served by 2 schools, including 2 primary. The average ICSEA score is 1080, which is above the national average of 1,000. Public transport access includes 11 rail stations, 22 bus stops. The crime rate in the Kingston (Vic.) LGA is moderate at 7,320 incidents per 100,000 population.
Looking at the investment signals, The gross rental yield works out to roughly 2.7%, which reads as low yield. Property prices are above the state median ($1.2M/$875K), placing it in the premium segment. The price-to-income ratio of 13.8x is considered stretched. House prices have moved +2.5% year-on-year.