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

Highett sits on Melbourne's south-east bayside, combining quiet, tree-lined streets with a modest village-style shopping strip and a handful of cafés and services. Housing ranges from weatherboard cottages and postwar bungalows to renovated period homes and newer townhouses, giving the area a layered, lived-in feel. Residents make use of nearby parks and sports reserves for weekend recreation, while larger retail and amenities are close at hand.

With 12,016 residents, a median age of 40 and a median household income of $2,119 a week, Highett is a suburb of families—couple families with children are the largest group and owner-occupation is common. Public transport options and easy access to Port Phillip's beaches and neighbouring bayside suburbs suit both families and working professionals. Planning for the Suburban Rail Loop and the Cheltenham structure plan identifies connections to the Southland/SRL precinct and treats Southland station as a key transport node, and the former CSIRO site has been cleared for sale with redevelopment studies noting space for new public open space and community facilities alongside local proposals for better pedestrian and cycling links, streetscape upgrades and a stronger Livingston Street community hub.

Housing costs in Highett sit quite differently depending on whether you rent or buy, and the income we use is what a typical local household reported at the last Census. A house rent of $850 a week is about 40.1% of a household income of $2,119 a week at the last Census, which is a large share of income, while a unit rent of $600 a week is about 28.3% of that income, a moderate share. If you plan to rent, those rent shares are the most relevant numbers.

Looking at buying, a median house price of $1,350,000 is about 12.3 times a typical local annual household income at the last Census, which is a high multiple against local incomes, and the median unit price of $594,000 is about 5.4 times a typical local annual household income, which sits somewhat above local incomes. On these figures, whether Highett feels expensive depends on which path you take and 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 and rents were the clearest movers in Highett over the past 12 months: unit values rose a solid 9.3% and unit rents climbed a solid 9.1%. House values increased a more modest 4.6%, while house rents were up a modest 2.0%. That means the units side outperformed houses both for capital growth and for rental income this year, and for houses price gains outpaced rent growth. If rental income is your priority, the unit rent change is the figure that matters; if capital growth is your focus, unit values showed the larger rise.

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.