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Wheelers Hill, VIC 3150
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$1,495,000
market range $1.4M-$1.6M
Median Unit
$1,005,000
market range $925K-$1.2M
Gross Yield (units)
3.9%
1yr Growth (houses)
-1.1%
market range -10.0% to +7.5%
Investment snapshot for Wheelers Hill
Wheelers Hill has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Wheelers Hill market and investor summary
In Wheelers Hill, VIC 3150, the median house sells for around $1.5M. House prices have moved -1.1% over the past year. At 1.6% vacancy, it is a tight rental market that favours landlords.
Rental demand looks steady, with vacancy at 1.6% and a resident base that is not shrinking.
Living in Wheelers Hill: people, income and schools
Wheelers Hill is home to around 20,652 people, a number that has held fairly steady over five years. At a median age of 48, it reads as skewed a little older, and 78% of homes are owner-occupied. Owner-occupiers dominate, so stock turns over slowly and listings can be thin when you are trying to buy.
The typical household income runs to around $95,000 a year (about $1,820 a week). On socio-economic measures it ranks among the most advantaged in the country (9 out of 10 on the ABS advantage index). At current prices a median house runs to a steep 15.8 times local household income, so affordability is a genuine constraint on local buyers. Locally, around 33% of household income goes to mortgage repayments, a level usually flagged as mortgage stress.
Families have 40 schools within roughly 5km to choose from, testing a little above the national school average on ICSEA. Wheelers Hill sits about 23 km from the CBD. Some errands can be done on foot, though a car still helps; the suburb scores 64 for walkability and 39 for transit out of 100. Fixed broadband is delivered over the NBN's Hybrid Fibre Coaxial (HFC).
- Population
- 20,652
- +3% over 5yr
- Median age
- 48 years
- Median household income
- $95,000/yr
- Households renting
- 13%
- Family households
- 79%
- Socio-economic rank
- 9/10
- ABS advantage index
- Schools within 5km
- 40
- avg ICSEA 1056
- Unemployment
- 1.9%
- Distance to CBD
- 23 km
- Walk score
- 64/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Wheelers Hill
View all →Frequently asked questions about Wheelers Hill
What should I check before investing in Wheelers Hill?
Wheelers Hill has enough public data for first-pass screening across yield, vacancy, price and supply signals. Tight rental market (1.6% vacancy) gives landlords pricing power and low rental downtime. Compare those signals with nearby suburbs and individual listings before relying on the suburb-level view.
What are typical property prices in Wheelers Hill?
The median property price in Wheelers Hill, VIC 3150 is $1.5M for houses and $1.0M for units.
What rental yield does Wheelers Hill show?
The gross rental yield in Wheelers Hill is 3.9% for units. Gross yield is calculated as annual rent divided by property price, and it doesn't account for expenses or tax.
What does recent house price growth show for Wheelers Hill?
House prices in Wheelers Hill are down 1.1% over the past year. Capital growth is a key driver of total investment return, so pair it with rental yield to get a full picture.
How tight is the rental market in Wheelers Hill?
The current vacancy rate in Wheelers Hill is 1.6%. A rate under 2% generally signals a tight rental market. This suburb's rental market is very tight, with landlords typically holding strong bargaining power and low rental downtime.
How many people live in Wheelers Hill?
Wheelers Hill has a population of approximately 20,652 residents, with a median age of 48.
What schools are near Wheelers Hill?
There are 40 schools within roughly 5km of Wheelers Hill. Their average ICSEA is a little above the national mean of 1000. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Wheelers Hill affordable to buy in?
A median house in Wheelers Hill costs about 15.8 times the median local household income (a high multiple that makes the suburb a stretch for median local earners). The ratio compares the median house price with annual household income; it is a rough affordability gauge, not a substitute for your own borrowing assessment.
Is Wheelers Hill's population growing?
The population of Wheelers Hill has grown modestly, about 3% over five years. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
How far is Wheelers Hill from the CBD?
Wheelers Hill is about 23 km from the CBD.
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