Get a property report and suburb profile for any property in Balwyn

Balwyn is a leafy, established inner-eastern suburb with tree-lined streets and a mix of early 20th century homes, Californian bungalows and solid mid-century houses on generous blocks. Life centres on Balwyn Village, a compact retail strip of cafés, bakeries and independent shops for day-to-day errands, and there are neighbourhood parks and reserves for walking and weekend play. Commuters have frequent buses, tram route 109 along Whitehorse Road and straightforward road links to major rail hubs and the city.

The suburb is home to 13,495 people with a median age of 43, and couple families dominate the community, together making up 82.3% of families; about 72.2% of homes are owner-occupied. The Balwyn Evergreen Centre has had a council-funded upgrade, adding the Evergreen Connections café and hub alongside interior and car-park works. That combination of established housing, nearby schools, local shops and regular transport tends to suit people looking for a settled, convenient neighbourhood; whether it suits you comes down to what you value in a suburb.

Buying in Balwyn sits well above what local households earned at the last Census. The median house price of $2,325,000 is about 22.6 times a typical local annual household income at the last Census (weekly median $1,975, annualised to $102,700). The median unit price of $736,250 is about 7.2 times that annual household income, so units are also well above local incomes though markedly lower than houses.

If you are renting, the average house rent of $983 a week would take about 49.7% of a typical local household's weekly income at the last Census, a large share, while the average unit rent of $600 a week would take about 30.4% of that weekly income, roughly a third and a sizeable share. On these figures, renting a unit looks less stretched against local incomes than buying or renting a house, but both sit substantially above what households in Balwyn reported at the last Census.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Over the past year Balwyn showed a sharp split between houses and units. Median house values fell 14.2%, a strong decline, while median unit values rose 12.5%, a strong increase. Rents moved differently: house rents rose a modest 3.5% and unit rents rose a slight 0.8%.

If capital growth is your priority, the figures show units were the stronger performer this year; if rental income matters more, house rents recorded the larger gain. Whether that balance makes Balwyn right for you depends on your own goals and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.