Located in Victoria within the Boroondara local government area, Kew East is a mid-sized suburb (postcode 3102). It is home to about 6,620 residents, with an established family demographic and a median age of 41. Households earn a median income of $129K per year, with an average household size of 2.7 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.
Median house prices in Kew East stand at $2.2 million, having grown strongly by 7.8% over the last twelve months. Units have a median price of $645,000 (-38.2% YoY). The current median weekly rent is $630. This gives a gross rental yield of approximately 1.5%. The median monthly mortgage repayment is $3,000.
Kew East is served by 3 schools, including 2 primary, 1 secondary. The average ICSEA score is 1148, which is well above the national average of 1,000. Public transport access includes 1 rail station, 41 bus stops. Healthcare facilities include 1 private hospital. The crime rate in the Boroondara LGA is moderate at 5,549 incidents per 100,000 population.
From an investment perspective, The gross rental yield works out to roughly 1.5%, which reads as low yield. Property prices are above the state median ($2.2M/$875K), placing it in the premium segment. The price-to-income ratio of 17.0x is considered stretched. House prices have moved +7.8% 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.