east melbourne

3002, Victoria

Real Estate & Property Information

Median
Price Rank
5

east melbourne Suburb Profile & Review

East Melbourne is a small inner-city suburb nestled between Richmond and the CBD. Due to the presence of Parliament House and other government buildings, the area was popular with the wealthy during the 1800s, and today it remains home to some of Melbourne's finest terrace houses and mansions.

Treasury Gardens and Fitzroy Gardens are two of the suburb's most impressive Victorian era gardens. City workers and students converge here for lunch during the week. In Yarra Park, sports fans gather during the AFL and cricket seasons to visit the MCG. There are many medical practices in East Melbourne, including the Royal Victorian Eye and Ear Hospital, the Peter MacCallum Cancer Centre and the Freemasons' Hospital.

Tramlines serve the suburb along Wellington Parade and Victoria Parade, and two main train stations, Parliament and Jolimont, connect to the City Loop, Epping and Hurstbridge lines.

east melbourne Demographic Data

$ 1,660,000 Median House Price

7 Minutes Average Commute

36 Median Age

4,714 Population

52.40 % Female

47.60 % Male

1041 NO OF FAMILIES

1.5 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 east melbourne, Victoria.

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east melbourne 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.

east melbourne Median House Prices

  • 2008 $ 1,525,000
  • 2009 $ 1,400,000
  • 2010 $ 1,385,000
  • 2011 $ 1,700,000
  • 2012 $ 1,660,000

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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east melbourne 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 east melbourne 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 east melbourne property price predictions.

east melbourne Market Property Types

  • 4 % Seperate House
  • 22 % Semi Detached
  • 74 % 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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east melbourne 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.

east melbourne Income & Mortgage Stats

  • $ 1,989 Median Weekly Household Income
  • $ 2,383 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 east melbourne

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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east melbourne 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.

east melbourne Sold Property Prices

east melbourne 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.

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east melbourne Restaurants

  • Zio's Ristorante14 Lansdowne Streeteast melbourne VIC 300203 9419 0252
  • Two Fat Indians166 Wellington Paradeeast melbourne VIC 300203 9419 1866
  • The Commune Cafe Bar2 Parliament Placeeast melbourne VIC 300203 9654 5477

east melbourne Cafes

  • The Olive Cafe137 Wellington Parade Southeast melbourne VIC 300203 9663 6592
  • Eastbourne Deli Cafe76 Wellington Pdeeast melbourne VIC 300203 9417 4441
  • The Commune Cafe Bar2 Parliament Placeeast melbourne VIC 300203 9654 5477

east melbourne Childcare

  • Powlett Res Childrens CtrCnr. Grey and Simpson streetseast melbourne VIC 3002
  • Yarra Park Children's Centre27 Berry Streeteast melbourne VIC 3002

east melbourne Sporting Centres and Clubs

  • AFL Clubs, Administration, MCGeast melbourne VIC 3002Football Club
  • AFL Clubs, Collingwood, MCGeast melbourne VIC 3002Football Club
  • AFL Clubs, Hawthorn, MCGeast melbourne VIC 3002Football Club

Find out How Much your House is Worth in east melbourne

Request a free market Basic Report for east melbourne 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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