Located in Victoria within the Glen Eira local government area, Ormond is a moderately sized suburb (postcode 3204). The area has roughly 8,328 residents and a mix of families and early-career residents, with a median age of 37. Households earn a median income of $107K per year, with an average household size of 2.5 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.6% 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, Chinese.
Ormond has a median house price of $1.9 million, which has moved higher by 2.8% year-on-year. Units have a median price of $519,000 (-11.3% YoY). The current median weekly rent is $625. This gives a gross rental yield of approximately 1.8%. The median monthly mortgage repayment is $2,252.
Ormond is served by 4 schools, including 2 primary, 2 combined. The average ICSEA score is 1107, which is well above the national average of 1,000. Public transport access includes 3 rail stations, 31 bus stops. The crime rate in the Glen Eira LGA is moderate at 4,737 incidents per 100,000 population.
Looking at the investment signals, Ormond shows a gross rental yield of approximately 1.8%, rated as low yield. Property prices are above the state median ($1.9M/$875K), placing it in the premium segment. The price-to-income ratio of 17.3x is considered stretched. House prices have moved +2.8% year-on-year. Population growth of +1.6% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.