cheltenham

3192, Victoria

Real Estate & Property Information

Median
Price Rank
161

cheltenham Suburb Profile & Review

Located minutes from Beaumaris Bay, Cheltenham is a popular suburb for beach-lovers who also crave the nearness of the city.

Cheltenham is surrounded by parks and sparse, attractive golf courses, including the Victoria Golf Club and Cheltenham Golf Club. You have your pick of beaches from the town centre. After a short drive to Mentone Beach, let your dog loose for a walk, take a dip and enjoy panoramic views of the surrounding cliffs. In half an hour, reach the inner city on the Nepean Highway, and catch a train from Cheltenham Station to go into Flinders Street or out to the Mornington Peninsula.

There are five primary schools in the area, including Cheltenham Primary School and Our Lady of the Assumption Parish Primary School, and one high school. Several established private schools can be found in nearby Mentone and Brighton. Cheltenham is also home to Westfield Southland, a major shopping centre featuring over 400 stores, including Myer, David Jones and a Village Cinemas.

cheltenham Demographic Data

$ 610,000 Median House Price

30 Minutes Average Commute

40 Median Age

20,292 Population

51.73 % Female

48.27 % Male

5520 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 cheltenham, Victoria.

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cheltenham 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.

cheltenham Median House Prices

  • 2008 $ 500,000
  • 2009 $ 550,000
  • 2010 $ 551,500
  • 2011 $ 670,000
  • 2012 $ 610,000

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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cheltenham 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 cheltenham 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 cheltenham property price predictions.

cheltenham Market Property Types

  • 69 % Seperate House
  • 14 % Semi Detached
  • 17 % 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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cheltenham 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.

cheltenham Income & Mortgage Stats

  • $ 1,234 Median Weekly Household Income
  • $ 1,950 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 cheltenham

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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cheltenham 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.

cheltenham Sold Property Prices

cheltenham 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.

cheltenham 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?

cheltenham Restaurants

  • Tudor Inn1281 Nepean Hwycheltenham VIC 319203 9584 7966
  • Salsa's Fresh Mex Grill Shop 302 Westfield Southland Nepean Hwy cheltenham VIC 319203 9584 1331
  • Pizza Roma7 Station Rd cheltenham VIC 319203 9585 3111

cheltenham Cafes

  • Gloria Jeans CoffeeLevel 3, Store 3052, Westfield Southland, 1239 Nepean Highwacheltenham VIC 319203 9583 7020
  • Bluefoot Cafe263 Charman Roadcheltenham VIC 319203 9583 4888
  • The Coffee ClubShop R204 Westfield Southland, 1239 Nepean Highwaycheltenham VIC 319203 9584 3511

cheltenham Schools

  • Cheltenham Community Centre8 Chesterville Roadcheltenham VIC 3192(03) 9583 0095Adult Multicultural Education Service
  • Our Lady of the Assumption Primary School9 Centre Dandenong Roadcheltenham VIC 3192(03) 9584 9488Catholic Primary School
  • Cheltenham Primary School231 Charman Roadcheltenham VIC 3192(03) 8585 3200State Primary School

cheltenham Childcare

  • ABC Learning Centre2 Jellicoe Stcheltenham VIC 3192
  • Kids on Tulip Child Care CentreTulip Stcheltenham VIC 3192
  • Friendship Square CCC35 Friendship Squarecheltenham VIC 3192

cheltenham Kindergarten and Preschools

  • Evesham Road Preschool75 Evesham Roadcheltenham VIC 3192
  • Farm Road Preschool47-49 Farm Roadcheltenham VIC 3192
  • North Cheltenham Preschool71 Argus Stcheltenham VIC 3192

cheltenham Sporting Centres and Clubs

  • Cheltenhamcheltenham VIC 3192Tennis Club & Courts
  • Moorabbin Rugby Union Football Clubcheltenham VIC 3192Football Club
  • Kingston Heath Reservecheltenham VIC 3192Hockey Club

cheltenham Retirement Villages

  • Cheltenham Manorcheltenham VIC 3192
  • Cheltenham RSL Villagecheltenham VIC 3192
  • Chester Villagecheltenham VIC 3192

Find out How Much your House is Worth in cheltenham

Request a free market Basic Report for cheltenham to get a general idea of property prices in your area, or a more specific CMA Report for the property you own.

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