Located in Victoria within the Boroondara local government area, Glen Iris is a sizeable suburb (postcode 3146). It is home to about 26,131 residents, with a settled mid-life population and a median age of 40. Households earn a median income of $130K 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 +0.7% 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 professional services and healthcare. The top ancestries reported are English, Australian, Irish.
Glen Iris has a median house price of $2.3 million, which has eased back by 2.2% year-on-year. Units have a median price of $630,000 (-15.7% YoY). The current median weekly rent is $650. This gives a gross rental yield of approximately 1.5%. The median monthly mortgage repayment is $2,830.
Glen Iris is served by 6 schools, including 4 primary, 2 combined. The average ICSEA score is 1175, which is well above the national average of 1,000. Public transport access includes 10 rail stations, 72 bus stops. Healthcare facilities include 2 private hospitals. The crime rate in the Boroondara LGA is moderate at 5,549 incidents per 100,000 population.
From an investment perspective, Glen Iris shows a gross rental yield of approximately 1.5%, rated as low yield. Property prices are above the state median ($2.3M/$875K), placing it in the premium segment. The price-to-income ratio of 17.9x is considered stretched. House prices have moved -2.2% year-on-year. Population growth of +0.7% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.