Wheelers Hill is a well-populated suburb in Victoria within the Monash local government area (postcode 3150). The area has roughly 20,652 residents and a mature demographic, with a median age of 48. Households earn a median income of $95K per year, with an average household size of 2.7 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 healthcare and professional services. The top ancestries reported are Chinese, English, Australian.
Median house prices in Wheelers Hill stand at $1.4 million, having fallen by 7.3% over the last twelve months. Units have a median price of $825,000 (-14.2% YoY). The current median weekly rent is $650. This gives a gross rental yield of approximately 2.4%. The median monthly mortgage repayment is $2,500.
Wheelers Hill is served by 8 schools, including 6 primary, 1 secondary, 1 special. The average ICSEA score is 1103, which is well above the national average of 1,000. Public transport access includes 105 bus stops. The crime rate in the Monash LGA is moderate at 7,127 incidents per 100,000 population.
On the investment side, Wheelers Hill shows a gross rental yield of approximately 2.4%, rated as low yield. Property prices are above the state median ($1.4M/$875K), placing it in the premium segment. The price-to-income ratio of 14.8x is considered stretched. House prices have moved -7.3% 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.