Foster is a smaller suburb in Victoria within the South Gippsland local government area (postcode 3960). With a population of 2,044, the suburb has an older demographic with a median age of 59. Households earn a median income of $51K per year, with an average household size of 2 people. The most common occupations are professionals, managers, labourers. The top ancestries reported are English, Australian, Irish.
The median house price in Foster is $568,000, having declined 3.8% over the past year. Units have a median price of $311,000 (-21.4% YoY). The current median weekly rent is $400. This gives a gross rental yield of approximately 3.7%. 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.
From an investment perspective, Foster offers a gross rental yield of 3.7%, rated as moderate yield. Property prices sit below the state median ($568K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 11.2x is considered stretched. House prices have moved -3.8% year-on-year.
Foster is a smaller suburb in Victoria within the South Gippsland local government area (postcode 3960). With a population of 2,044, the suburb has an older demographic with a median age of 59. Households earn a median income of $51K per year, with an average household size of 2 people. The most common occupations are professionals, managers, labourers. The top ancestries reported are English, Australian, Irish.
The median house price in Foster is $568,000, having declined 3.8% over the past year. Units have a median price of $311,000 (-21.4% YoY). The current median weekly rent is $400. This gives a gross rental yield of approximately 3.7%. 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.
From an investment perspective, Foster offers a gross rental yield of 3.7%, rated as moderate yield. Property prices sit below the state median ($568K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 11.2x is considered stretched. House prices have moved -3.8% year-on-year.