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

Chadstone sits in Melbourne’s south-east and is built around the large regional shopping centre that gives the suburb its name. Around the centre are tree-lined streets of post-war brick homes alongside newer medium-density apartments, creating a mix of family-focused pockets and units that suit commuters and investors. Day-to-day life is driven by convenience, with abundant retail, dining and entertainment on the doorstep, nearby parks and community facilities, regular bus links and direct access to the Monash Freeway.

The community of 9,552 people has a median age of 35 and is weighted towards families, with couple households forming the majority. Homes are mostly owner-occupied, about three in five households, while around two in five are rented. The suburb is subject to a state-led Activity Centre Plan that proposes new planning controls around the shopping-centre core and could enable several thousand new dwellings, and there are transport and shared-path proposals that would link the centre more closely to surrounding suburbs. Whether Chadstone feels right will come down to how much you value immediate amenity and straightforward travel options.

Buying in Chadstone looks stretched against local incomes as recorded at the most recent Census. A median house price of $1,156,000 is about 11.2 times a typical local household's annual income at the last Census, and the median unit price of $780,000 is about 7.5 times that annual income, which places buying well above what a typical local household earned at the last Census.

Renting is somewhat less stretched but still significant: the average house rent of $730 a week would take about 36.7% of a typical local household's weekly income at the last Census, a sizeable share, while the average unit rent of $580 a week would take about 29.1% of that weekly income, a moderate share. Which of these matters most depends on whether you plan to rent or buy and 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.

Unit values in Chadstone jumped 30.6% over the past year, a strong rise, while unit rents rose 5.5% — a solid increase. House values and house rents moved more modestly, up 4.6% and 4.3% respectively. That means units have been the standout for capital growth this year, and unit rental income also grew a little faster than house rents. If rental income is your priority the rent figures are the most relevant; if capital growth matters more the large lift in unit values is the key movement. Whether that fits your goals depends on your objectives and circumstances.

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.