Located in Victoria within the Nillumbik local government area, Eltham is a well-established suburb (postcode 3095). With a population of 18,847, the suburb has an established demographic with a median age of 43. Households earn a median income of $124K per year, with an average household size of 2.8 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.4% 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 healthcare and education. The top ancestries reported are English, Australian, Irish.
Median house prices in Eltham stand at $1.2 million, having declined by 3.7% over the last twelve months. Units have a median price of $824,000 (+5.6% YoY). The current median weekly rent is $640. This gives a gross rental yield of approximately 2.8%. The median monthly mortgage repayment is $2,250.
Eltham is served by 5 schools, including 3 primary, 2 secondary. The average ICSEA score is 1115, which is well above the national average of 1,000. Public transport access includes 9 rail stations, 43 bus stops. The crime rate in the Nillumbik LGA is below average at 3,681 incidents per 100,000 population.
On the investment side, Gross rental yield sits at around 2.8% (low yield). Property prices are above the state median ($1.2M/$875K), placing it in the premium segment. The price-to-income ratio of 9.7x is considered moderate. House prices have moved -3.7% year-on-year. Population growth of +0.4% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.