Research (postcode 3095) is a smaller suburb in Victoria within the Nillumbik local government area. With a population of 2,695, the suburb has an established family demographic with a median age of 44. Households earn a median income of $150K per year, with an average household size of 3 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.4% 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 construction and healthcare. The top ancestries reported are English, Australian, Irish.
Median house prices in Research stand at $1.3 million, having risen steeply by 27.2% over the last twelve months. The current median weekly rent is $640. This gives a gross rental yield of approximately 2.5%. The median monthly mortgage repayment is $2,300.
Research is served by 2 schools, including 1 primary, 1 combined. The average ICSEA score is 1116, which is well above the national average of 1,000. Public transport access includes 16 bus stops. The crime rate in the Nillumbik LGA is below average at 3,681 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 2.5%, which reads as low yield. Property prices are above the state median ($1.3M/$875K), placing it in the premium segment. The price-to-income ratio of 8.8x is considered moderate. House prices have moved +27.2% year-on-year. Population growth of +0.4% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.