box hill

3128, Victoria

Real Estate & Property Information

Median
Price Rank
47

box hill Suburb Profile & Review

Box Hill is a vast, leafy suburb in Melbourne's east, less than half an hour from the city centre. The area has a strong Asian population, and as a result houses a tantalising array of Asian groceries, cafes and restaurants for food lovers. Centro Box Hill is the bustling heart of Box Hill's shopping district. Below its fast food stores, cafes, fashion outlets, supermarkets and department stores you will find Box Hill Station. Train services here run on the Belgrave and Lilydale lines. Tram route 109 to Port Melbourne also services the suburb along Whitehorse Road.

For sports players, there are many options: the Box Hill City Oval is a football and cricket stadium, and the Box Hill Athletic Club at Hagenauer's Reserve is one of Melbourne's foremost athletics organisations. Aqualink Box Hill boasts an indoor and outdoor pool, basketball courts, a gym, squash and tennis courts. The surrounding parklands include a baseball diamond, a football oval and cricket pitches.

For healthcare, there is Box Hill Hospital, soon to be redeveloped with some first-rate medical facilities. There are also many respected schools in and around Box Hill, such as Our Lady of Sion College. The Box Hill Institute of TAFE has three campuses in the area, offering long and short term adult education courses.

box hill Demographic Data

$ 910,000 Median House Price

23 Minutes Average Commute

32 Median Age

9,672 Population

50.80 % Female

49.20 % Male

2250 NO OF FAMILIES

1.7 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in box hill, Victoria.

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box hill Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

box hill Median House Prices

  • 2008 $ 638,001
  • 2009 $ 710,000
  • 2010 $ 780,000
  • 2011 $ 874,000
  • 2012 $ 910,000

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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box hill 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in box hill have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term box hill property price predictions.

box hill Market Property Types

  • 37 % Seperate House
  • 34 % Semi Detached
  • 29 % Flat or Unit
  • 0 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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box hill Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

box hill Income & Mortgage Stats

  • $ 1,023 Median Weekly Household Income
  • $ 2,000 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in box hill

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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box hill Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

box hill Sold Property Prices

box hill Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

box hill Related Local Blog Posts

Immigrants Are Pushing House Prices Higher

Much of Australia’s history and success has been built on the back immigration but are the current intake levels too high and how are they impacting prices?

Hangover Stock Brings About Buying Opportunities

This week Melbourne’s auction market has been tested with over 1200 properties reportedly going under the hammer over the weekend. Although both Domain and the REIV show clearance rates at nearly 70%, this on the surface seems good but in actual fact is 10% down for the same time last year. Speaking to a number of agents around town confirms….

Where is The Property Market Heading?

There has been a lot of “white noise” surrounding the Sydney and Melbourne property market over the last few months and it has taken me a while to determine which way things were actually going to go. Is the Australian property market heading down the gurgler or is this just a glitch?

Property Market Trends in Melbourne Which Could Affect Prices

In this final edition we look at what how the Melbourne property market has fared and what whether we are likely to see any changes in property prices, demand for property and economic drivers.

New Research Shows Consumers Who Don’t Own A Home Could Be Worse Off in Retirement

New Research released last week by Roy Morgan shows that people who don’t own a home have become worse off in terms of their net wealth and are jeopardising their retirement.

Is Australian Housing Heading for a Hard Landing or a Financial Cliff?

From my experience and talking with real estate agents the Melbourne market has softened no doubt, but are we heading towards a financial cliff?

box hill Restaurants

  • Vegie Hut Vegetarian984 Whitehorse Rd box hill VIC 312803 9898 2287
  • Tien Dat3 Carrington Rdbox hill VIC 312803 9890 9699
  • The Booth612 Station Streetbox hill VIC 312803 9899 7666

box hill Cafes

  • Fountains465 Elgar Roadbox hill VIC 312803 9286 9278
  • HQ Box Hill1/436 Elgar Roadbox hill VIC 312803 9890 3414
  • New Age Cafe595 Station Streetbox hill VIC 312803 9898 7388

box hill Schools

  • Our Lady of Sion1065 Whitehorse Roadbox hill VIC 3128(03) 9890 9097Catholic Secondary School
  • Box Hill34-36 Prospect Streetbox hill VIC 3128(03) 9890 0425Adult Multicultural Education Service
  • Clota Cottage31 Clota Avenuebox hill VIC 3128(03) 9899 0062Adult Multicultural Education Service

box hill Childcare

  • ABC Learning Centre1058 Whitehorse Rdbox hill VIC 3128
  • Biala Early Intervention Centre10 Rose Streetbox hill VIC 3128
  • Central Box Hill Child Care Ctr517 Station Streetbox hill VIC 3128

box hill Kindergarten and Preschools

  • Kingswood College Preschool Ctr355 Station Streetbox hill VIC 3128
  • St. Peters Anglican Kindergarten33 Bank Stbox hill VIC 3128

box hill Sporting Centres and Clubs

  • Hagenauer Reservebox hill VIC 3128Athletics Club
  • Little Athletics Centres, Hagenauer Res.box hill VIC 3128Athletics Club
  • Melbourne, Surrey Parkbox hill VIC 3128Baseball Club

box hill Retirement Villages

  • Bedford Heights Estatebox hill VIC 3128
  • Hayvillebox hill VIC 3128

Find out How Much your House is Worth in box hill

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