Question 1

Is Belgrave a nice place to live?

Accepted Answer

Belgrave sits in the foothills of the Dandenong Ranges and has a village atmosphere, leafy streets and ready access to bushland. The suburb centres on a compact shopping strip beside Belgrave station, the suburban terminus and the departure point for the Puffing Billy steam railway, and supports cafés, galleries and antique shops that reflect a crafty, arts-minded community. Housing ranges from weatherboard cottages and early bungalows tucked into garden blocks to more recent homes on sloping streets, and residents include families, artists and people who value nearby walking tracks and Belgrave Lake Reserve while still being within reach of the city.

Families predominate — couple families with children are the largest group at 46.0% — and most homes are owner-occupied (about 92.7%). Recent transport works around the railway precinct include a new multi-level car park with about 640 spaces, lifts, accessible bays, EV chargers, a covered drop-off area and bus-priority changes. Council planning and Puffing Billy’s facility plans point to further station-area work, and the Belgrave Outdoor Pool is now operated by Aligned Leisure under the Active Yarra Ranges arrangement. Whether Belgrave suits you will depend on whether its village, bushland and community mix match what you want.

Question 2

Is it expensive to live in Belgrave?

Accepted Answer

Buyers in Belgrave face a higher cost against local incomes at the last Census. The median house price of $860,000 is about 7.5 times a typical local household's annual income at the last Census. That annual income works out to $114,504, based on the weekly median of $2,202.

Renting a house looks less stretched but still sizeable: the average house rent of $675 a week would take about 30.7% of a typical local household's weekly income at the last Census, roughly a third of that income. If you're renting rather than buying, that rent share is the number that matters and whether it feels expensive depends on your own circumstances.

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

Question 3

Is Belgrave a good place to invest?

Accepted Answer

House values in Belgrave climbed a solid 7.6% over the past 12 months. Over the same period, the rent those houses fetched rose a more modest 2.3%, so on the house side capital growth outpaced rental growth this year.

If rental income is your main focus, the 2.3% rent change is the figure to watch; if you are prioritising capital growth, the 7.6% change in house values is more relevant. Whether those movements fit your goals and circumstances is for you to decide.

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.

	Houses	Units
Median price Past 3 months	$860K	N/A
Change in value Past 12 months	7.6%	N/A
Sold Past 3 months	15	N/A
Median days on market Past 12 months	15	N/A
Average rent Past 12 months	$675	N/A
Change in rent Past 12 months	2.3%	N/A

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