forest hill

3131, Victoria

Real Estate & Property Information

Median
Price Rank
202

forest hill Suburb Profile & Review

Forest Hill is a residential suburb located between Blackburn and Vermont. It is generally best known for its shopping centre Forest Hill Chase, which is popular with residents of the City of Whitehorse. The centre itself includes two supermarkets, a Myer, Target, Big W, JB Hi-Fi and a number of specialty retailers. There is even a Hoyts cinema and an AMF bowling centre.

Global Television Studios are located in Forest Hill, where the popular soap opera Neighbours is produced and interior scenes are filmed. Pin Oak Court in neighbouring Vermont South provides the cul-de-sac that Ramsey Street is based on, and it is used for external shots on the show.

Parkmore Primary School is on Jolimont Road, and Forest Hill College, though technically located in Burwood East, is a co-educational secondary school attended by many local students. A number of bus routes service the suburb. Whilst there are no train stations, Blackburn Station is less than a five minute drive away and from there it only takes half an hour to get into the city. Forest Hill is situated right in between the M1 and M3, so residents are spoilt for choice in their freeway options.

forest hill Demographic Data

$ 558,000 Median House Price

29 Minutes Average Commute

41 Median Age

10,052 Population

52.90 % Female

47.10 % Male

2721 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 forest hill, Victoria.

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forest 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.

forest hill Median House Prices

  • 2008 $ 475,000
  • 2009 $ 465,000
  • 2010 $ 498,000
  • 2011 $ 620,100
  • 2012 $ 558,000

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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forest 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 forest 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 forest hill property price predictions.

forest hill Market Property Types

  • 75 % Seperate House
  • 20 % Semi Detached
  • 5 % 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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forest 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.

forest hill Income & Mortgage Stats

  • $ 1,118 Median Weekly Household Income
  • $ 1,800 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 forest 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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forest 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.

forest hill Sold Property Prices

forest 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.

forest 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?

forest hill Restaurants

  • Viva @ the Chase HotelLevel 3 Forest Hill Chase Shopping Centre forest hill VIC 313103 9877 9688
  • The Treasure482 Springvale Roadforest hill VIC 313103 9803 2388
  • Tacos Mexican Restaurant & Take Away13 Mahoneys Rd forest hill VIC 313103 9878 9508

forest hill Cafes

  • The Coffee Club Forest Hill270 Canterbury Roadforest hill VIC 313103 9894 4022
  • Manhattan FeastCanterbury Rd & Heatherdale Rd forest hill VIC 313103 9874 7777
  • Lazy Moe's320 Canterbury Roadforest hill VIC 313103 9878 5400

forest hill Schools

  • Forest Hill College Mahoneys Rdforest hill VIC 3131(03) 9814 9444State Secondary College

forest hill Childcare

  • ABC Learning Centre2 Fraser Placeforest hill VIC 3131

forest hill Kindergarten and Preschools

  • Forest Hill Kindergarten19 Norma Roadforest hill VIC 3131
  • Mount Pleasant Kindergarten333A Canterbury Roadforest hill VIC 3131
  • Parkmore Preschool41 Jolimont Roadforest hill VIC 3131

forest hill Sporting Centres and Clubs

  • Blackburnforest hill VIC 3131Baseball Club
  • Forest Hillforest hill VIC 3131Baseball Club
  • Nunawading Cityforest hill VIC 3131Soccer Club

forest hill Retirement Villages

  • Forestwood Close51 Glebe Stforest hill VIC 3131
  • St. Thomas Communityforest hill VIC 3131

Find out How Much your House is Worth in forest hill

Request a free market Basic Report for forest hill 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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