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

Ringwood is an established suburban hub centred on Eastland shopping centre and Ringwood station on the Lilydale and Belgrave lines. It mixes tree-lined streets and family-sized allotments with interwar and post-war brick homes, while apartments and mixed-use developments have grown around the transport and retail core. The town centre retains a high-street feel with a busy retail and civic precinct, and there is green space nearby such as Ringwood Lake Park with walking paths and playgrounds. Major roads provide regional connections.

The community of 19,144 people has a median age of 38 and is weighted towards couple families, with couple families with children the largest group at 43.7% and, together with couple families without children (38.4%), making up just over eight in ten families. Most homes are owner-occupied (59.5%) while 40.5% are rented. A revised metropolitan activity centre masterplan and a major hospital redevelopment are shaping future upgrades around the station and health services, which will affect local planning and facilities.

Housing costs in Ringwood sit well above what a typical local household earned at the last Census. The median house price of $995,000 is about 11.6 times a typical local household's annual income based on that Census-weekly income of $1,654, and the median unit price of $620,000 is about 7.2 times. On the rental side, an average house rent of $670 a week would take about 40.5% of that weekly household income, while an average unit rent of $543 a week would take about 32.8%. On these figures, buying is several times a local year's household income and looks more stretched, and renting a house would take a large share of a typical local household's income.

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

Over the past 12 months Ringwood showed a split between values and rents. Unit values rose a solid 6.0% while house values increased a modest 2.5%. On the income side, house rents climbed a solid 6.3% and unit rents rose a modest 4.4%.

If you are comparing what matters most, the figures point to stronger capital growth on the unit side this year and stronger rental income growth for houses. Which of those outcomes suits you depends on your own objectives and circumstances.

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.