Located in Victoria within the Glen Eira local government area, Gardenvale is a close-knit residential community (postcode 3185). It is home to about 1,019 residents, with an established family demographic and a median age of 39. Households earn a median income of $89K per year, with an average household size of 2.1 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.6% 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, clerical & administrative. Employment in the area leans toward healthcare and professional services. The top ancestries reported are English, Australian, Irish.
The median house price in Gardenvale is $1.8 million, having fallen sharply by 21.3% over the past year. Units have a median price of $1.4 million (+133.2% YoY). The current median weekly rent is $625. This gives a gross rental yield of approximately 1.8%. The median monthly mortgage repayment is $2,953.
Public transport access includes 9 bus stops. The crime rate in the Glen Eira LGA is moderate at 4,737 incidents per 100,000 population.
From an investment perspective, Gardenvale shows a gross rental yield of approximately 1.8%, rated as low yield. Property prices are above the state median ($1.8M/$875K), placing it in the premium segment. The price-to-income ratio of 20.4x is considered stretched. House prices have moved -21.3% year-on-year. Population growth of +1.6% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.