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

Cheltenham sits on the shores of Port Phillip and has an established, residential feel. Tree-lined streets of interwar and postwar weatherboard and brick homes sit alongside pockets of newer townhouses and low-rise apartments, so there’s a mix of period character and more recent infill. A shopping strip beside the railway station provides cafes, everyday shops and services, and parks and foreshore reserves give options for outdoor recreation.

The suburb is weighted towards families and owner-occupiers, with couple families with children a large share of households and about 72.1% of homes owner-occupied. It attracts commuting professionals who use the Frankston train line and local buses, and recent rail works rebuilt the station, improved parking and added shared walking and cycling paths. A new underground station is planned as part of the Suburban Rail Loop East and local upgrades to the recreation reserve and primary school have been completed. Whether Cheltenham suits you depends on whether that mix of bayside amenities, transport links and a family-oriented community matches what you want.

Buying in Cheltenham 3192 sits at a high multiple of local incomes. The median house price of $1,190,000 is about 11.9 times a typical local household's annual income at the last Census, while the median unit price of $620,000 is about 6.2 times that annual income. That places houses at a particularly high multiple of what locals earned at the last Census, and units are also well above a local year's household income.

On the rental side, a house renting for $750 a week would take roughly 39.1% of a typical local household's weekly income at the last Census, a sizeable share, while a unit at $550 a week would take about 28.7%, a moderate share. For many people the rent share is the most relevant number; buying sits notably higher against local incomes than renting does.

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 year Cheltenham showed a split market. House values rose a solid 6.3% while unit values fell marginally, down 0.4%. On the rental side, house rents climbed a modest 2.7% and unit rents increased a moderate 4.8%. For someone weighing Cheltenham up as an investment, the value figures point to capital growth for houses over the year, whereas the rent figures show stronger rental income growth for units. Which of those matters more will depend on your individual goals 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.