Highett suburb profile
Highett is a vibrant suburb located in Melbourne's southeast, approximately 16km from the CBD. Known for its blend of suburban tranquility and urban convenience, Highett offers a welcoming atmosphere with a mix of modern developments and charming older homes. The suburb is well-serviced by public transport, including the Highett railway station, providing easy access to the city and surrounding areas. Highett's local shopping precinct features a variety of cafes, restaurants, and boutique stores, contributing to its lively community vibe. With its proximity to the beach and recreational facilities, Highett is an attractive choice for families, professionals, and retirees alike.
Highett property market performance
Highett’s property market has remained stable over the past 12 months, with no change in median house and unit values. The median house price stands at $1.21 million, while units are priced at $575,000, indicating steady demand in the area.
Sales activity has been consistent, with 27 houses and 35 units sold over the last 12 months. Houses are taking longer to sell, with a median of 44 days on the market, compared to 30 days for units, suggesting a quicker turnover in the unit market.
The rental market in Highett has seen modest growth, with house rents increasing by 2.9% and unit rents by 3.6% over the last 12 months. The average rent for houses is $720, while units average $570, reflecting a steady rental demand.
Median price - houses$1.21MPast 3 months
Median price - units$575KPast 3 months
Change in value - houses-3.3%12 months
Change in value - units-3.1%12 months
Houses sold27Past 3 months
Units sold35Past 3 months
Median DOM - houses44Past 12 months
Median DOM - units30Past 12 months
Average rent - houses$720Past 12 months
Average rent - units$570Past 12 months
Change in rent - houses2.9%Past 12 months
Change in rent - units3.6%Past 12 months
Highett demographics
Highett, located in Melbourne's southeastern suburbs, is a family-friendly area known for its blend of suburban tranquility and urban convenience. With a population of 12,016 and a median age of 40, it attracts a mix of families, professionals, and retirees. The suburb's proximity to the beach and the city makes it an appealing choice for those seeking a balanced lifestyle. The median total household income of $2,119 per week reflects the area's comfortable living standards.
Family life is a significant aspect of Highett, with 47.3% of households being couple families with children, and 36% being couple families without children. This indicates a strong community of both young families and established couples. One-parent families make up 15.6% of the population, adding to the suburb's diverse family dynamics. The presence of various parks and schools supports the family-oriented atmosphere, making it a desirable location for raising children.
In terms of property ownership, Highett offers a stable housing market with 30.9% of properties owned outright and 41.1% owned with a mortgage. This suggests a community with a strong sense of homeownership and investment in the area. Meanwhile, 28% of properties are rented, providing options for those seeking flexibility. The suburb's mix of modern developments and classic homes caters to a range of preferences, ensuring Highett remains a sought-after suburb for both buyers and renters alike.
Highett infrastructure, key developments and investment opportunities
Highett is experiencing significant developments that are likely to impact its property market. The removal of the level crossing on Highett Road, completed in 2021, has improved traffic flow and safety in the area. A major eco-development is underway on the former CSIRO site, which will add approximately 1,000 new dwellings and 3 hectares of public open space, enhancing the suburb's appeal for families and young professionals.
The Highett Road shopping precinct is undergoing a transformation, with new restaurants, cafes, and retail spaces opening, creating a more vibrant local community hub. The nearby Sir William Fry Reserve hosts a popular monthly farmers' market, adding to the area's amenities. These developments, combined with Highett's proximity to beaches, quality schools, and easy access to the CBD via public transport, are likely to sustain strong demand for properties in the area and contribute to potential price growth.
Highett rental market trends
The rental market in Highett has experienced modest growth, with house rents increasing by 2.9% over the past year to $720 per week, while unit rents have risen by 3.6% to $570 per week. This steady growth reflects a stable demand in the suburb, making Highett an attractive option for renters seeking a balanced lifestyle with convenient access to Melbourne's amenities.
Suburbs near Highett
Some popular suburbs near Highett include: