Kew is a large suburb in Victoria within the Boroondara local government area (postcode 3101). With a population of 24,499, the suburb has a settled mid-life population with a median age of 41. 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 healthcare and professional services. The top ancestries reported are English, Australian, Chinese.
The median house price in Kew is $2.3 million, having fallen sharply by 17.1% over the past year. Units have a median price of $762,000 (-7.6% YoY). The current median weekly rent is $690. This gives a gross rental yield of approximately 1.5%. The median monthly mortgage repayment is $3,000.
Kew is served by 11 schools, including 3 primary, 7 combined, 1 special. The average ICSEA score is 1160, which is well above the national average of 1,000. Public transport access includes 117 bus stops. Healthcare facilities include 3 public and 1 private hospitals. The crime rate in the Boroondara LGA is moderate at 5,549 incidents per 100,000 population.
From an investment perspective, Kew 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 -17.1% 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.