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Box Hill suburb profile

Box Hill is a bustling suburb located 14km east of Melbourne's CBD, renowned for its vibrant multicultural community and thriving commercial hub. As a major transport interchange, it offers excellent connectivity via train, tram, and bus services. The suburb is a culinary hotspot, celebrated for its diverse range of Asian eateries and bustling markets. Box Hill is also home to Box Hill Hospital and a variety of educational institutions, making it a popular choice for families and students. With its blend of residential, commercial, and recreational amenities, Box Hill continues to be a dynamic and sought-after destination.

Box Hill property market performance

Current median dwelling price$747,750Past 3 months

Property growth-13.9%Past 12 months

Box Hill's property market has shown stability over the past 12 months, with house values experiencing a modest increase of 0.8%, while unit values have remained unchanged. The median house price over the past three months has averaged $1.38 million, and units have averaged $470,000, indicating steady demand in the area.

Sales activity has been robust, with 22 houses and 82 units sold in the past three months. However, properties are taking longer to sell, with houses spending a median of 53 days on the market and units 68 days, suggesting a cautious approach from buyers.

The rental market in Box Hill has seen some growth, with house rents increasing by 7.7% and unit rents by 3.3% over the last 12 months, reflecting a healthy demand for rental properties in the suburb.

HousesUnits
Median price
Past 3 months
$1.03M$470K
Change in value
Past 12 months
-12.0%-15.8%
Sold
Past 3 months
2589
Median days on market
Past 12 months
7056
Average rent
Past 12 months
$700$620
Change in rent
Past 12 months
7.7%3.3%

5 year median price trend for houses and units

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Box Hill demographics

Box Hill, located in Melbourne's eastern suburbs, is a bustling and culturally diverse area known for its vibrant community and rich history. With a population of 14,353 and a median age of 33, Box Hill is a youthful suburb that attracts a mix of families, professionals, and students. The suburb's proximity to the city and excellent public transport links make it a convenient location for those commuting to Melbourne's CBD.

The housing landscape in Box Hill is predominantly rental-based, with 60.7% of properties being rented. This high rental rate reflects the suburb's appeal to students and young professionals seeking flexible living arrangements. The suburb's family composition is varied, with 31.4% of households being couple families with children, and 48.5% being couple families without children. One-parent families make up 16.3% of the community, adding to the suburb's diverse family dynamics.

Box Hill is renowned for its vibrant cultural scene, with a strong presence of Asian cuisine, markets, and festivals that celebrate its multicultural heritage. The suburb's median total household income of $1,267 per week indicates a moderate economic standing, with a mix of property ownership that includes 20.8% owning outright and 18.5% owning with a mortgage. This blend of rental and ownership options makes Box Hill an attractive suburb for a wide range of residents, offering a dynamic and inclusive community atmosphere.

Suburbs near Box Hill

Some popular suburbs near Box Hill include:

  • Box Hill South: Known for its green spaces and educational institutions, Box Hill South is located directly south of Box Hill.
  • Mont Albert: Featuring charming period homes and a village atmosphere, Mont Albert is situated to the west of Box Hill.
  • Box Hill North: Offering a mix of residential and parkland areas, Box Hill North lies to the north of Box Hill.
  • Mont Albert North: Known for its quiet streets and family-friendly vibe, Mont Albert North is located to the northwest of Box Hill.
  • Surrey Hills: Renowned for its leafy streets and heritage homes, Surrey Hills is situated to the southwest of Box Hill.

How does Box Hill compare to nearby suburbs?

  • Median house prices: Box Hill’s median house price is 19.9% lower than Box Hill South’s.
  • Median unit prices: Box Hill’s median unit price is 43.0% lower than Box Hill South’s.
  • House price growth: Property prices in nearby Box Hill South have risen 12.2% more than in Box Hill over the past year.
  • Unit price growth: Property prices in nearby Box Hill South have risen 35.8% more than in Box Hill over the past year.
  • Selling speed for houses: Properties in nearby Box Hill South are selling 28.6% faster than in Box Hill.
  • Selling speed for units: Properties in Box Hill are selling 3.4% faster than in Box Hill North.
  • Investment considerations: In Box Hill, the rental yield for house is 11.1% higher than the Melbourne average, while the rental yield for units is 5.8% higher.
  • House price growth: Over the past 12 months, house prices in Box Hill have grown 23.3% higher than the average rate of growth across Melbourne.
  • Unit price growth:Over the past 12 months, unit prices in Box Hill have grown 15.4% lower than the average rate of growth for units across Melbourne.

Choose the right real estate agents in Box Hill

There are 225 real estate agents in Box Hill, but they don’t all deliver the same results.

Some agents have a much stronger presence in the suburb, with just 5 agents handling around 17.6% of all sales in the past year.

Commission rates in Box Hill typically range from 1.71% to 2.57%. Comparing agents—including what they charge, what’s included, and how they structure their fees—is not only important when choosing an agent, the right structure can help ensure your chosen agent is motivated to achieve the best possible result.

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