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Highett is a delightful suburb that offers a harmonious blend of suburban tranquility and urban convenience, making it a fantastic place to live. With its charming residential streets and vibrant shopping precinct, Highett exudes a welcoming vibe that appeals to a diverse range of residents. The suburb is known for its strong sense of community, and its proximity to beautiful beaches and lush parks like Highett Reserve adds to its appeal, especially for families who enjoy outdoor activities and a balanced lifestyle.

Families will find Highett particularly appealing due to its family-friendly atmosphere and excellent amenities. The suburb boasts a variety of schools, parks, and recreational facilities, making it an ideal place for raising children. The presence of modern apartments and traditional family homes provides options for both young families and established professionals. Safety is generally not a major concern, contributing to the suburb's reputation as a secure and peaceful place to live.

While Highett offers many advantages, there are some trade-offs to consider. The ongoing transformation and development in the area mean that some parts of the suburb are experiencing construction and change, which might not appeal to everyone. Additionally, while the suburb offers a lively shopping precinct, it may not have the same level of nightlife and entertainment options as inner-city areas. However, the excellent public transport options, including the train station on the Frankston line, ensure easy access to the city and surrounding areas, making these trade-offs manageable for those who prioritize convenience and connectivity.

Living in Highett, a suburb of Melbourne, can be considered somewhat expensive, especially when compared to the average wage data for Melbourne and Victoria. The median house price in Highett is currently around $1,336,250, which is quite high, reflecting its desirable location and amenities. For those considering purchasing a unit, the median price is more affordable at $690,000, yet still significant.

Renting in Highett also comes with a hefty price tag. The average rent for houses over the past year is approximately $850 per week, while units average around $600 per week. When you compare this to the median total household income in Highett, which is about $2,119 per week, it's clear that a considerable portion of income would be allocated to housing costs.

While the average weekly income in Highett is slightly above the Melbourne/Victoria average of $2,000, the high property prices and rental costs suggest that living in this suburb may be challenging for those on an average income. If you're thinking of living in Highett, it's important to evaluate your financial situation to ensure it aligns with the expenses associated with residing in this attractive inner suburb.

Highett is shaping up to be a promising suburb for investment, particularly for those interested in units. Over the past year, the median unit value in Highett has increased by a notable 10.8%, indicating strong demand and potential for capital growth. This is complemented by a significant 9.1% rise in rent for units, suggesting a healthy rental market and the potential for solid rental returns.

While the median house value has seen a more modest increase of 5.3%, it still reflects steady growth, which is appealing for investors seeking stability. The rental market for houses has also experienced a slight uptick, with a 2.0% increase in rent, indicating consistent demand. Highett's appeal lies in its balanced mix of growth and rental yield, making it an attractive option for investors looking for both capital appreciation and rental income.

Overall, Highett offers a compelling investment opportunity, especially for those focusing on units. The suburb's recent performance in both property values and rental yields suggests a vibrant market with potential for continued growth. Whether you're looking for a stable investment in houses or a high-growth opportunity in units, Highett presents a solid case for consideration.