Forest Hill is a well-established suburb in Victoria within the Whitehorse local government area (postcode 3131). With a population of 10,780, the suburb has a settled mid-life population with a median age of 42. Households earn a median income of $86K per year, with an average household size of 2.5 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.3% 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, clerical & administrative, managers. Employment in the area leans toward healthcare and professional services. The top ancestries reported are Chinese, English, Australian.
The median house price in Forest Hill is $1.2 million, having fallen by 4.1% over the past year. Units have a median price of $808,000 (+0.2% YoY). The current median weekly rent is $650. This gives a gross rental yield of approximately 2.8%. The median monthly mortgage repayment is $2,123.
Forest Hill is served by 1 school, including 1 primary. The average ICSEA score is 1095, which is above the national average of 1,000. Public transport access includes 1 rail station, 51 bus stops. Healthcare facilities include 1 public and 1 private hospitals. The crime rate in the Whitehorse LGA is moderate at 6,384 incidents per 100,000 population.
Looking at the investment signals, Forest Hill shows a gross rental yield of approximately 2.8%, rated 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 13.9x is considered stretched. House prices have moved -4.1% year-on-year. Population growth of +1.3% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.