Kensington is a well-established suburb in Victoria within the Melbourne local government area (postcode 3031). With a population of 10,745, the suburb has a mix of young professionals and families with a median age of 35. Households earn a median income of $115K per year, with an average household size of 2.1 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Kensington is $1.1 million, having increased 5% over the past year. Units have a median price of $530,000 (+7.5% YoY). The current median weekly rent is $570. This gives a gross rental yield of approximately 2.7%. The median monthly mortgage repayment is $2,162.
Kensington is served by 3 schools, including 2 primary, 1 secondary. The average ICSEA score is 1103, which is well above the national average of 1,000. Public transport access includes 3 rail stations, 16 bus stops. The crime rate in the Melbourne LGA is higher than average at 23,998 incidents per 100,000 population.
From an investment perspective, Kensington offers a gross rental yield of 2.7%, rated as low yield. Property prices are near the state median ($1.1M/$875K). The price-to-income ratio of 9.5x is considered moderate. House prices have moved +5.0% year-on-year.
Kensington is a well-established suburb in Victoria within the Melbourne local government area (postcode 3031). With a population of 10,745, the suburb has a mix of young professionals and families with a median age of 35. Households earn a median income of $115K per year, with an average household size of 2.1 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Kensington is $1.1 million, having increased 5% over the past year. Units have a median price of $530,000 (+7.5% YoY). The current median weekly rent is $570. This gives a gross rental yield of approximately 2.7%. The median monthly mortgage repayment is $2,162.
Kensington is served by 3 schools, including 2 primary, 1 secondary. The average ICSEA score is 1103, which is well above the national average of 1,000. Public transport access includes 3 rail stations, 16 bus stops. The crime rate in the Melbourne LGA is higher than average at 23,998 incidents per 100,000 population.
From an investment perspective, Kensington offers a gross rental yield of 2.7%, rated as low yield. Property prices are near the state median ($1.1M/$875K). The price-to-income ratio of 9.5x is considered moderate. House prices have moved +5.0% year-on-year.