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

Carnegie pairs a lively village centre with quiet, tree-lined streets. The main strip around Koornang Road is home to independent cafés, restaurants and everyday shops, while residential pockets include period weatherboard cottages, interwar and post-war brick homes and low-rise apartment blocks. The suburb appeals to young professionals, families and downsizers who value walkability, nearby parks and local community facilities, and it is well served by public transport with easy access to neighbouring Caulfield and Murrumbeena.

Carnegie is weighted towards couple families, who make up 86.1% of families, and has a median age of 36; most homes are owner-occupied (56.6%) while renters account for 43.4%. Recent public works rebuilt the local railway as an elevated Carnegie station and created the Djerring Trail, and the redeveloped Carnegie Memorial Swimming Pool has reopened as a modern, year-round aquatic and community facility. Council planning for upgrades to the library, Koornang Road town centre and Packer Park is under way. Whether Carnegie suits you depends on which of these features matter most.

Buying in Carnegie sits well above local incomes at the last Census. A median house price of $1,400,000 is about 14.3 times a typical local annual household income at the last Census, while the median unit price of $630,000 is about 6.4 times that annual income. On these figures, purchasing, especially houses, is well above what households locally earned at the last Census.

Renting also takes a notable share of income. The average house rent of $820 a week is about 43.7% of a typical local household's weekly income at the last Census, a large share, while the average unit rent of $570 a week is about 30.4% of that weekly income, a sizeable share. If you are renting rather than buying, those rent shares are the figures that matter.

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 12 months Carnegie has shown a split between houses and units. Median house values fell 7.2%, a notable decline, while house rents rose 2.8%, a modest increase. Median unit values edged up 1.6%, a slight rise, while unit rents climbed 5.0%, a solid increase.

That means house capital values moved down over the year even as house rental income nudged higher, whereas for units rental income grew faster than unit values. If rental income is your priority the unit-side figures will matter more; if capital growth is your focus the house value fall is the key number. Whether that balance fits your goals and circumstances is for you to weigh up.

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.