Foster (postcode 3960) is a compact suburb in Victoria within the South Gippsland local government area. The area has roughly 2,044 residents and a more retirement-aged population, with a median age of 59. Households earn a median income of $51K per year, with an average household size of 2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.6% 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, labourers. Employment in the area leans toward healthcare and agriculture. The top ancestries reported are English, Australian, Irish.
The median house price in Foster is $568,000, having moved lower by 3.8% over the past year. Units have a median price of $310,000 (-0.2% YoY). The current median weekly rent is $433. This gives a gross rental yield of approximately 4.0%. The median monthly mortgage repayment is $1,348.
Foster is served by 3 schools, including 1 primary, 2 secondary. The average ICSEA score is 988, which is around the national average of 1,000. Public transport access includes 1 bus stop. Healthcare facilities include 1 public hospital. The crime rate in the South Gippsland LGA is higher than average at 8,421 incidents per 100,000 population.
Looking at the investment signals, Foster shows a gross rental yield of approximately 4.0%, rated as moderate yield. Property prices sit below the state median ($568K/$875K), which can point to relative value. The price-to-income ratio of 11.2x is considered stretched. House prices have moved -3.8% year-on-year. Population growth of +0.6% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.