Get a property report and suburb profile for any property in Forest Hill

Forest Hill is an established eastern Melbourne suburb centred on the Forest Hill Chase shopping centre. Tree-lined streets of mid-century single-storey brick homes, with pockets of newer townhouses around the retail precinct, create a calm, family-oriented atmosphere. Everyday needs are covered by the shopping centre, small retail strips and community sports reserves, while bus services, nearby train stations and arterial roads provide transport links to the wider eastern suburbs.

The community of 10,780 people has a median age of 42 and a typical household income of $1,658 a week. It is weighted towards couple families, who make up just over four in five families, and most homes are owner-occupied (73.4%). Local projects shaping open space and movement include ngarrak nakorang wilam park, upgrades at Forest Hill Reserve, the EasyRide NS6 cycling route and council planning for nearby reserve precincts and development sites. Whether Forest Hill suits you will come down to whether you value backyard space, local schools and nearby parks.

A median house price of $1,070,000 in Forest Hill is about 12.4 times a typical local household's annual income as recorded at the last Census, which places buying well above local incomes. On the rental side, average house rent of $650 a week would take roughly 39.2% of that weekly household income at the last Census, while average unit rent of $540 a week would take about 32.6%. Both rents therefore represent a sizeable share of a typical local household's income, with buying substantially higher relative to those incomes.

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 Forest Hill climbed 13.1% over the past year, a strong rise, while house values increased more modestly, up 2.5%. If capital growth is your main focus, the unit side has been the stronger performer this year.

House rents edged up 1.6% over the year, a slight rise, and that rent figure is the one most directly tied to rental income. Put together, the clearest movement in the last 12 months was a strong lift in unit capital values alongside much smaller growth in house rents. Whether that balance suits your investment 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.