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Chadstone suburb profile

Chadstone, located in Melbourne's southeastern suburbs, is renowned for housing the largest shopping centre in the Southern Hemisphere, Chadstone Shopping Centre. This bustling suburb offers a mix of residential and commercial areas, attracting shoppers and residents alike. With its proximity to Monash Freeway and public transport options, Chadstone provides easy access to Melbourne's CBD and surrounding areas. The suburb features a blend of modern apartments and traditional homes, catering to a diverse community. Its vibrant retail and dining scene, coupled with nearby parks and schools, make Chadstone a desirable location for families and professionals.

Chadstone property market performance

Current median dwelling price$943,750Past 3 months

Property growth+8.1%Past 12 months

Chadstone's property market has shown varied performance over the past 12 months. While the median house price has remained stable at $1.25 million, unit values have surged by 19%, bringing the median unit price to $642,500. This indicates a strong demand for units in the area.

Sales activity has been moderate, with 39 houses and 23 units sold in the past three months. Units are selling faster than houses, with a median of 27 days on the market compared to 43 days for houses, suggesting a quicker turnover in the unit market.

The rental market in Chadstone has seen slight increases, with house rents rising by 0.7% and unit rents by 4.2% over the last 12 months. The average rent for houses is $700, while units average $573, reflecting a steady demand for rental properties.

HousesUnits
Median price
Past 3 months
$1.25M$643K
Change in value
Past 12 months
-2.7%19.0%
Sold
Past 3 months
3923
Median days on market
Past 12 months
4327
Average rent
Past 12 months
$700$573
Change in rent
Past 12 months
0.7%4.2%

5 year median price trend for houses and units

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Chadstone demographics

Chadstone, located in Melbourne's southeastern suburbs, is renowned for its shopping precinct, which is one of the largest in the Southern Hemisphere. This vibrant suburb offers a blend of urban convenience and suburban tranquility, making it an attractive place for families and professionals alike. With a median age of 35, Chadstone's population is a mix of young families and established residents who enjoy the area's amenities and lifestyle.

The suburb's housing landscape is diverse, with a significant portion of properties being owned outright (25.4%) or with a mortgage (34.0%). This indicates a stable community with a mix of long-term residents and new homeowners. Additionally, 40.6% of the properties are rented, catering to those seeking flexibility, including students and young professionals drawn to the area's accessibility and facilities.

Family dynamics in Chadstone are varied, with 43.6% of households being couple families with children, reflecting its appeal to families seeking a supportive environment. Couple families without children make up 37.9%, while one-parent families account for 15.8%, showcasing the suburb's inclusive nature. Chadstone's combination of retail, dining, and recreational options, along with its strong community feel, makes it a desirable location for a wide range of residents.

Chadstone infrastructure, key developments and investment opportunities

Chadstone’s property market continues to benefit from its proximity to major amenities, most notably Chadstone Shopping Centre, which remains the largest retail precinct in Australia with over 500 stores, a major hotel, and hospitality and entertainment offerings attracting significant local and visitor demand. The suburb is strategically serviced by multiple bus routes connecting to train stations and surrounding areas, offering increased transport convenience and supporting community growth.

Recent enhancements to Chadstone Shopping Centre, focused on expanded retail, dining, and public spaces, further improve local lifestyle appeal and are expected to positively influence residential demand and property values. The area’s well-developed road network, including Monash Freeway access, and nearby education facilities such as Holmesglen, maintain strong demand among families and professionals. At this time, there are no major new school or transport infrastructure projects announced, but existing amenities and ongoing shopping centre investment continue to underpin the suburb’s desirability.

Chadstone rental market trends

The rental market in Chadstone has experienced modest growth, with house rents increasing by 0.7% over the past year to $700 per week, while unit rents have risen 4.2% to $573 per week. As a suburb known for its shopping and amenities, Chadstone continues to attract renters seeking convenience and lifestyle, making it a stable choice for both residents and investors.

Suburbs near Chadstone

Some popular suburbs near Chadstone include:

How does Chadstone compare to nearby suburbs?

  • Median house prices: Chadstone’s median house price is 24.6% lower than Hughesdale’s.
  • Median unit prices: Chadstone’s median unit price is 19.0% higher than Carnegie’s.
  • House price growth: Property prices in nearby Hughesdale have risen 12.7% more than in Chadstone over the past year.
  • Unit price growth: Over the past 12 months, unit prices in Chadstone have grown 21.2% higher than in Hughesdale.
  • Selling speed for houses: Properties in Chadstone are selling 28.3% faster than in Carnegie.
  • Selling speed for units: Properties in Chadstone are selling 66.3% faster than in Hughesdale.
  • Investment considerations: In Chadstone, the rental yield for house is 12.5% higher than the Melbourne average, while the rental yield for units is 0.5% lower.
  • House price growth: Over the past 12 months, house prices in Chadstone have grown 15.1% higher than the average rate of growth across Melbourne.
  • Unit price growth:Over the past 12 months, unit prices in Chadstone have grown 11.5% higher than the average rate of growth for units across Melbourne.

Common questions about Chadstone

  • Is Chadstone a nice place to live?

    Chadstone is a delightful suburb that offers a harmonious blend of urban convenience and suburban tranquility, making it a fantastic place to call home. Known for its vibrant atmosphere, Chadstone is a hub of activity with a lively retail and dining scene that caters to a diverse community. The suburb's strategic location provides easy access to Melbourne's CBD and surrounding areas, thanks to its proximity to the Monash Freeway and efficient public transport options. This accessibility is a significant draw for families and professionals who appreciate the balance of city life and suburban peace.

    For families, Chadstone is particularly appealing due to its strong community feel and the availability of nearby parks and schools. The suburb's housing options range from modern apartments to traditional homes, offering something for everyone, whether you're a young family, a professional couple, or a retiree. Safety is generally not a major concern, contributing to the suburb's family-friendly reputation. While Chadstone is bustling with activity, it does lack the nightlife of inner-city areas, which might be a trade-off for those seeking a more vibrant evening scene.

    Chadstone's charm lies in its ability to offer a supportive environment for families while maintaining a dynamic and inclusive community. The suburb's ongoing development, particularly around the renowned Chadstone Shopping Centre, continues to enhance its lifestyle appeal. Although there are no major new school or transport infrastructure projects on the horizon, the existing amenities and continued investment in the shopping centre ensure that Chadstone remains a desirable place to live. Whether you're drawn to its retail offerings, community vibe, or convenient location, Chadstone provides a welcoming and fulfilling living experience.

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  • Is it expensive to live in Chadstone?

    Living in Chadstone, Melbourne, can be quite pricey, especially when it comes to housing. The current median house price is around $1,155,000, while units are somewhat more affordable at a median price of $738,000. If you're considering renting, the average rent for houses is about $690 per week, and for units, it's approximately $560 per week. These figures suggest that housing costs in Chadstone are on the higher side, reflecting its status as an inner suburb with desirable amenities and proximity to Melbourne's city center.

    Comparing these costs with the average wage in Melbourne, which is about $95,000 per year, it's clear that a significant portion of one's income would need to be allocated towards housing in Chadstone. The median total household income in the suburb is $1,991 per week, which is slightly above the state average, indicating that residents generally earn a bit more to keep up with the higher living costs.

    Overall, while Chadstone offers the convenience of being close to the city and access to the renowned Chadstone Shopping Centre, it's important to consider the financial implications. If you're thinking of living in Chadstone, it's essential to evaluate your budget to ensure it can accommodate the expenses associated with this vibrant and well-connected suburb.

    Disclaimer: To assess whether a suburb is considered expensive, we’ve looked at mortgage and rental costs as a proportion of the average local salary. That said, everyone’s financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.
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  • Is Chadstone a good place to invest?

    Chadstone presents a unique investment opportunity, especially for those interested in rental income. While the median house and unit values have remained stable over the past year, the rental market tells a different story. With a 3.0% increase in house rents and a notable 6.7% rise in unit rents, Chadstone is clearly experiencing strong demand from renters. This makes it an attractive option for investors seeking reliable rental returns.

    The suburb's appeal is further enhanced by its reputation as a shopping and lifestyle hub, home to the famous Chadstone Shopping Centre. This draws both locals and visitors, contributing to a vibrant community atmosphere. The stable property values combined with rising rents suggest that Chadstone is a low-risk investment choice, offering consistent rental income potential. For investors looking for a suburb with a strong rental market and a lively community, Chadstone is definitely worth considering.

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Choose the right real estate agents in Chadstone

Choosing the right real estate agent in Chadstone can have a big impact on your sale. While there are 102 real estate agents working in the suburb, but just 5 of them were responsible for 39.3% 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.

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