East Melbourne is a smaller suburb in Victoria within the Melbourne local government area (postcode 3002). With a population of 4,896, the suburb has an established demographic with a median age of 42. Households earn a median income of $122K per year, with an average household size of 1.8 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in East Melbourne is $3.6 million, having surged 15.1% over the past year. Units have a median price of $725,000 (+10.3% YoY). The current median weekly rent is $580. This gives a gross rental yield of approximately 0.8%. The median monthly mortgage repayment is $2,383.
Public transport access includes 7 rail stations, 28 bus stops. Healthcare facilities include 2 public and 5 private hospitals. The crime rate in the Melbourne LGA is higher than average at 23,998 incidents per 100,000 population.
From an investment perspective, East Melbourne offers a gross rental yield of 0.8%, rated as low yield. Property prices are above the state median ($3.6M/$875K), placing it in the premium segment. The price-to-income ratio of 29.9x is considered stretched. House prices have moved +15.1% year-on-year.
East Melbourne is a smaller suburb in Victoria within the Melbourne local government area (postcode 3002). With a population of 4,896, the suburb has an established demographic with a median age of 42. Households earn a median income of $122K per year, with an average household size of 1.8 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in East Melbourne is $3.6 million, having surged 15.1% over the past year. Units have a median price of $725,000 (+10.3% YoY). The current median weekly rent is $580. This gives a gross rental yield of approximately 0.8%. The median monthly mortgage repayment is $2,383.
Public transport access includes 7 rail stations, 28 bus stops. Healthcare facilities include 2 public and 5 private hospitals. The crime rate in the Melbourne LGA is higher than average at 23,998 incidents per 100,000 population.
From an investment perspective, East Melbourne offers a gross rental yield of 0.8%, rated as low yield. Property prices are above the state median ($3.6M/$875K), placing it in the premium segment. The price-to-income ratio of 29.9x is considered stretched. House prices have moved +15.1% year-on-year.