Get a property report and suburb profile for any property in Malvern East

Malvern East is a leafy, inner-eastern suburb with quiet, tree-lined streets and a mix of early 20th century cottages, post-war bungalows and pockets of modern townhouses and apartments near transport nodes. It sits beside the major Chadstone shopping precinct and is served by stations on the Glen Waverley line and regular bus routes, so daily errands and commuting are straightforward. Local parks, sporting reserves and small village shopping strips with cafes and services contribute to a settled suburban character.

The suburb is home to 22,296 people with a median age of 38 and attracts families and established professionals. Nearly half of families are couple families with children (49.8%) and about 68.4% of dwellings are owner-occupied, so it leans toward an established, owner-occupied community. The council is progressing several active-transport and open-space projects, including upgrades to the Gardiners Creek shared-user path and improved local cycling links to strengthen walking and cycling connections. Whether that suits you depends on what you want from a suburb.

Buying in Malvern East sits well above what local households earned at the last Census. A median house price of $1,725,000 works out to about 13.9 times a typical local annual household income at the last Census, while the median unit price of $495,000 is about 4.0 times that yearly income. On the rental side, a house rent of $850 a week would take roughly 35.7% of a typical local household's weekly income at the last Census, and a unit rent of $540 a week would take about 22.7%.

So on these figures buying a house is considerably more stretched against local incomes than either renting or buying a unit; renting a house would take a sizeable share of a typical local household's weekly income at the last Census, while renting a unit sits in the moderate range. Whether that feels expensive depends on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

The most striking feature in Malvern East over the past 12 months is the split between houses and units: unit values jumped 17.5% while house values edged down 1.3%. On the rental side, unit rents rose a solid 6.3% and house rents increased a modest 3.7%.

If you're weighing Malvern East up as an investment, the value figures speak to capital growth and the rent figures speak to rental income. Over the year units have been the stronger performer on both counts, but whether that pattern fits your goals and circumstances is something only you can decide.

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.