Get a property report and suburb profile for any property in Surrey Hills

Surrey Hills is an inner eastern Melbourne suburb of leafy streets and well preserved early 20th century housing, where Edwardian and Californian bungalow homes sit alongside sympathetic contemporary infill. It has a village feel centred on the Union Road shopping strip with cafés, bakeries and small specialty shops, and there are several neighbourhood parks and sports reserves. Regular trains run on the Lilydale and Belgrave lines, and major transport works have removed level crossings by lowering the rail into a 1.3 km trench and creating a new Union Station.

With about 13,655 people and a median age of 42, Surrey Hills is a suburb of families and established households. Just under four in five homes are owner-occupied (42.6% owned outright and 35.4% with a mortgage) and renters make up 22.0% of dwellings, while the median household income is $2,503 a week (about $130,156 a year). That mix, together with recent upgrades to public spaces and community facilities, tends to suit families and professionals who value mature gardens, good local amenities and an accessible but relaxed lifestyle; whether it fits you will depend on what you’re looking for.

Buying in Surrey Hills sits well above what local households earned at the last Census. A median house price of $1,880,000 is about 14.4 times a typical local annual household income at the last Census, while the median unit price of $835,000 is about 6.4 times that income.

Renting is less stretched than buying for units but still significant for houses. Average house rent of $900 a week would take roughly 36% of a typical local household's weekly income at the last Census, a sizeable share, while average unit rent of $600 a week would take about 24% of that weekly income, a moderate share.

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 in Surrey Hills, median house values fell a modest 3.8% while rents moved the other way: house rents rose a solid 5.9% and unit rents rose a solid 7.1%.

For someone weighing Surrey Hills up as an investment, the value change reflects capital movement and the rent figures show rental income trends. Rental income rose for both houses and units this year, and unit rents increased faster than house rents; whether that pattern suits 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.