Is Balwyn a nice place to live?

Balwyn is an established, leafy eastern suburb of Melbourne, noted for its early 20th century architecture, tree-lined streets and the shops and cafes around Balwyn Village and the Whitehorse Road shopping strip. The community is older, with many households owning their homes outright, and couple families with children are the largest family group at 49.4% of families. Everyday amenity includes local shopping strips, parks and reserves for recreation, and bus routes plus major road links to the Eastern Freeway and nearby train stations for wider connections. The Balwyn Community Centre redevelopment was delivered, creating a multi-use community facility with childcare, maternal and child health rooms and activity spaces.

Is it expensive to live in Balwyn?

Buying in Balwyn sits well above local incomes. A typical local household earned about $1,975 a week at the most recent Census, so a median house price of $2,431,500 is about 23.7 times a typical local annual household income, while the median unit price of $675,000 is about 6.6 times annual household income. Rents take a large or sizeable share of that income: the average house rent of $970 a week would use about 49% of a typical local household's weekly income, and the average unit rent of $600 a week would use about 30%. Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Is Balwyn a good place to invest?

Over the past 12 months, Balwyn shows a stark split between dwelling types: median house values fell a strong 13.8% while median unit values rose a strong 14.8%. House rents rose a modest 2.1% over the same period, so for houses capital value moved sharply down while rental income edged up. For units, rents edged up 0.8% while values rose strongly 14.8%, so unit value appreciation outpaced rental growth. 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.

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Balwyn suburb profile

Balwyn is an established, leafy eastern suburb of Melbourne with tree-lined streets and a strong presence of early 20th century architecture. Federation houses, interwar cottages and Californian bungalows sit alongside more recent brick residences, and mature gardens and canopy trees give the suburb a settled, residential character.

Balwyn Village and the Whitehorse Road shopping strip provide cafes, boutiques and everyday services, while parks and local reserves offer open space and recreation. The area is served by bus routes and linked by major roads, with the Eastern Freeway and nearby train stations providing connections to the wider metropolitan area.

Balwyn property market performance

Current median dwelling price$1,553,250Past 3 months

Property growth+0.5%Past 12 months

Balwyn's median house price is $2.43 million, down 13.8% over 12 months, a steep fall; the median unit price is $675,000, up 14.8% over 12 months, a strong rise. Units spent less time on market than houses, with medians of 36 and 53 days respectively, so units sold more quickly.

In Balwyn, house rents rose modestly, up 2.1% over 12 months, while house values moved the other way.

	Houses	Units
Median price Past 3 months	$2.43M	$675K
Change in value Past 12 months	-13.8%	14.8%
Sold Past 3 months	32	33
Median days on market Past 12 months	53	36
Average rent Past 12 months	$970	$600
Change in rent Past 12 months	2.1%	0.8%

5 year median price trend for houses and units

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Balwyn demographics

Balwyn is an older community with many households owning their homes outright.

Couple families with children are the largest family group, at 49.4% of families. At the 2021 Census, 13,495 people lived in Balwyn.

Balwyn and Victoria

	Suburb	VIC
Median age years	43	38
Median household income weekly	$1,975	$1,759
Couples with children share of families	49.4%	45.5%
Couples without children share of families	32.9%	37.6%
One-parent families share of families	16.2%	15.2%
Homes owned outright share of homes	44.0%	33.2%
Homes with a mortgage share of homes	28.2%	37.3%
Homes rented share of homes	27.8%	29.5%

Source: ABS 2021 Census. Shares of homes exclude other and not-stated tenure.

Balwyn infrastructure, key developments and investment opportunities

Balwyn's Balwyn Library was redeveloped and the project was completed in March 2018, creating a light-filled atrium and a new first-floor level for staff and offices.

The Balwyn Community Centre redevelopment was delivered in 2019, resulting in a multi-use community facility that provides childcare, maternal and child health rooms and activity spaces. The Balwyn Evergreen Centre underwent a council-coordinated upgrade in 2025, which includes the new Evergreen Connections Café & Hub as part of the refreshed community space.

Suburbs near Balwyn

Some popular suburbs near Balwyn include:

How does Balwyn compare to nearby suburbs?

Median house prices: Balwyn’s median house price is 27.6% higher than Surrey Hills’s.
Median unit prices: Balwyn’s median unit price is 22.2% lower than Surrey Hills’s.
House price growth: Property prices in nearby Deepdene have risen 9.8% more than in Balwyn over the past year.
Unit price growth: Over the past 12 months, unit prices in Balwyn have grown 21.7% higher than in Canterbury.
Selling speed for houses: Properties in Balwyn are selling 1.9% faster than in Balwyn North.
Selling speed for units: Properties in Balwyn are selling 20.0% faster than in Canterbury.
Investment considerations: In Balwyn, the rental yield for house is 52.5% higher than the Melbourne average, while the rental yield for units is 0.8% higher.
House price growth: Over the past 12 months, house prices in Balwyn have grown 135.7% higher than the average rate of growth across Melbourne.
Unit price growth:Over the past 12 months, unit prices in Balwyn have grown 37.8% higher than the average rate of growth for units across Melbourne.

Common questions about Balwyn

Is Balwyn a nice place to live?
Balwyn is an established, leafy eastern suburb of Melbourne, noted for its early 20th century architecture, tree-lined streets and the shops and cafes around Balwyn Village and the Whitehorse Road shopping strip.

The community is older, with many households owning their homes outright, and couple families with children are the largest family group at 49.4% of families. Everyday amenity includes local shopping strips, parks and reserves for recreation, and bus routes plus major road links to the Eastern Freeway and nearby train stations for wider connections. The Balwyn Community Centre redevelopment was delivered, creating a multi-use community facility with childcare, maternal and child health rooms and activity spaces.
Is it expensive to live in Balwyn?
Buying in Balwyn sits well above local incomes. A typical local household earned about $1,975 a week at the most recent Census, so a median house price of $2,431,500 is about 23.7 times a typical local annual household income, while the median unit price of $675,000 is about 6.6 times annual household income. Rents take a large or sizeable share of that income: the average house rent of $970 a week would use about 49% of a typical local household's weekly income, and the average unit rent of $600 a week would use about 30%.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.
Is Balwyn a good place to invest?
Over the past 12 months, Balwyn shows a stark split between dwelling types: median house values fell a strong 13.8% while median unit values rose a strong 14.8%. House rents rose a modest 2.1% over the same period, so for houses capital value moved sharply down while rental income edged up. For units, rents edged up 0.8% while values rose strongly 14.8%, so unit value appreciation outpaced rental growth.

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.

Choose the right real estate agents in Balwyn

Choosing the right real estate agent in Balwyn can have a big impact on your sale. While there are 133 real estate agents working in the suburb, but just 5 of them were responsible for 23.7% of all property sales over the past year, showing a strong footprint and track record in the area.

Commission rates typically range from 1.71% to 2.57%, depending on the agent and what’s included. Comparing both performance and fee structures can help you find someone who's well-suited to your needs, and set them up for a successful result.