Located in Victoria within the Bayside (Vic.) local government area, Highett is a well-established suburb (postcode 3190). With a population of 12,016, the suburb has an established family demographic with a median age of 40. Households earn a median income of $110K per year, with an average household size of 2.4 people. 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.
Highett has a median house price of $1.5 million, holding roughly steady year-on-year. Units have a median price of $590,000 (-11.5% YoY). The current median weekly rent is $743. This gives a gross rental yield of approximately 2.7%. The median monthly mortgage repayment is $2,300.
Highett is served by 1 school, including 1 primary. The average ICSEA score is 1098, which is above the national average of 1,000. Public transport access includes 3 rail stations, 49 bus stops. The crime rate in the Bayside (Vic.) LGA is moderate at 5,194 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 2.7%, which reads as low yield. Property prices are above the state median ($1.5M/$875K), placing it in the premium segment. The price-to-income ratio of 13.2x is considered stretched. House prices have moved +0.1% year-on-year.