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Templestowe suburb profile

Templestowe is a leafy, family-oriented suburb in Melbourne's north-east set along the Yarra River, prized for its riverfront reserves and bushland such as Westerfolds Park. The streets are dominated by established standalone homes on generous blocks, many renovated over time, with pockets of newer townhouses near the main roads. It appeals to families and outdoors people who value walking and cycling trails, picnic spots and local sports fields while remaining within easy reach of Doncaster's shopping precinct and the city via regular bus services and arterial roads. The suburb feels relaxed and green, with a strong focus on outdoor lifestyle.

Templestowe property market performance

Current median dwelling price$1,277,222Past 3 months

Property growth+14.4%Past 12 months

Templestowe has relatively few recent unit sales, so there isn't enough data to publish a reliable median unit price. The median house price is $1.49 million, down a modest 4.2% over the last 12 months.

In the past three months 56 houses and 8 units were sold. Houses had a median time on market of 58 days, while units sold faster, in a median of 35 days.

The rental market in Templestowe saw house rents average $850 a week, up a solid 6.2% over the last 12 months, and unit rents average $595 a week, up a solid 8.2%—unit rents grew more strongly than house rents.

HousesUnits
Median price
Past 3 months
$1.49MN/A
Change in value
Past 12 months
-4.2%33.0%
Sold
Past 3 months
568
Median days on market
Past 12 months
5835
Average rent
Past 12 months
$850$595
Change in rent
Past 12 months
6.3%8.2%

5 year median price trend for houses and units

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Templestowe demographics

Templestowe is home to 16,966 people, with a median age of 46 and a median household income of $2,163 a week, roughly $112,500 a year.

Families make up the bulk of households: 50.4% are couple families with children (2,464 households) and 37.4% are couple families without children (1,831), together accounting for 87.8% of families. One-parent families number 549 and represent 11.2%, while other families total 49 (1.0%).

Homes in Templestowe are predominantly owner-occupied: 48.8% are owned outright (2,685) and a further 36.6% are owned with a mortgage (2,016), while 14.6% of dwellings are rented (801).

Templestowe infrastructure, key developments and investment opportunities

Templestowe is seeing several council and state-led public works. Major Road Projects Victoria’s Fitzsimons Lane upgrade has reconfigured the Porter Street roundabout into a signalised intersection and the River Peel sculpture was relocated and relandscaped as part of that work.

Local open-space and sport projects include the Pettys Reserve upgrade, a Manningham–Victorian Government project to expand soccer facilities and associated pavilion and parking works, and the Westerfolds Paddle Sports Plan, a council-endorsed feasibility study proposing a regional paddle sports centre, improved river access and Main Yarra Trail safety upgrades at Westerfolds Park. The Templestowe Village pop-up park upgrade and new mural have also been completed as part of village revitalisation.

Suburbs near Templestowe

Some popular suburbs near Templestowe include:

  • Lower Plenty: Leafy suburb with stretches of parkland and the Plenty River corridor.
  • Templestowe Lower: Established residential streets with reserves that suit families and walkers.
  • Doncaster East: Family-oriented suburb with generous parks and established tree cover.
  • Doncaster: Major shopping and commercial area with mixed housing and good transport links.
  • Eltham: Village atmosphere centred on arts, cafes and extensive bush reserves.

How does Templestowe compare to nearby suburbs?

  • Median house prices: Templestowe’s median house price is 19.0% higher than Lower Plenty’s.
  • Median unit prices: Templestowe’s median unit price is 53.5% higher than Templestowe Lower’s.
  • House price growth: Over the past 12 months, house prices in Templestowe have grown 11.1% higher than in Lower Plenty.
  • Unit price growth: Over the past 12 months, unit prices in Templestowe have grown 41.1% higher than in Lower Plenty.
  • Selling speed for houses: Properties in Templestowe are selling 1.7% faster than in Doncaster.
  • Selling speed for units: Properties in Templestowe are selling 22.2% faster than in Doncaster.
  • Investment considerations: In Templestowe, the rental yield for house is 34.1% higher than the Melbourne average, while the rental yield for units is 0.8% higher.
  • House price growth: Over the past 12 months, house prices in Templestowe have grown 51.2% higher than the average rate of growth across Melbourne.
  • Unit price growth:Over the past 12 months, unit prices in Templestowe have grown 53.1% higher than the average rate of growth for units across Melbourne.

Common questions about Templestowe

  • Is Templestowe a nice place to live?

    Templestowe is a leafy, family-oriented suburb along the Yarra River, known for its riverfront reserves and bushland such as Westerfolds Park. Streets are largely established standalone homes on generous blocks, with pockets of newer townhouses near the main roads. Walking and cycling trails, picnic spots and local sports fields support an outdoor lifestyle, while regular bus services and arterial roads keep Doncaster's shopping precinct and the city within easy reach.

    About 16,966 people live in Templestowe; the median age is 46 and median household income $2,163 a week (roughly $112,500 a year). The community is dominated by couple families and most homes are owner-occupied rather than rented. The area is seeing local investment in roads, parks, village upgrades and sport facilities, including studies proposing improved river access and a regional paddle sports centre at Westerfolds Park. Whether that suits you comes down to what you are looking for.

    Down Pointer

  • Is it expensive to live in Templestowe?

    At a median house price of $1,487,500, buying a house in Templestowe works out to about 13.2 times a typical local household's annual income at the last Census, which puts buying well above local incomes. Looking at rents, $850 a week for a house would take about 39.3% of a typical local household's weekly income at the last Census, a sizeable share, while a unit at $595 a week would take about 27.5%, a moderate share. On these figures renting generally looks less stretched against local incomes than buying does.

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

    Down Pointer

  • Is Templestowe a good place to invest?

    The standout movement in Templestowe this past year is on the unit side: median unit values jumped 33.0%, a strong rise, while unit rents rose 8.2%. For units, then, capital growth this year outpaced rental growth.

    Houses moved differently — median house values fell 4.2% while house rents increased 6.2%, so the rent a house earns rose even as its price eased. Whether that mix of capital movement and rental growth fits your investment goals and time frame is something only you can weigh up.

    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.

    Down Pointer

Choose the right real estate agents in Templestowe

Currently, there are 112 real estate agents working in Templestowe—but not all agents deliver the same results. The right agent could make a huge difference to your final sale price.

Only 5 out of these 112 agents sold 32.2% of all properties in Templestowe over the past year. Choosing one of these top-performing agents means tapping into proven expertise for a better sale outcome.

Real estate agents in Templestowe typically charge a commission of 1.71% to 2.57%. Negotiating a fair commission rate and the right structure can motivate your agent to work even harder, helping you sell for more and potentially saving you thousands of dollars.

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