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

Warranwood is a quiet, leafy residential pocket in Melbourne’s east, made up mainly of single-family homes from the mid 20th century alongside renovated and more contemporary builds on gently sloping blocks. Its treed streets, small reserves and tree-lined corridors give the suburb a green character and local walking options, while Ringwood’s shopping and train hub is close by for larger retail, services and wider connections. It attracts families and professionals who value space and a calmer setting.

The suburb has 4,820 residents with a median age of 41 and a typical household income of $2,852 a week. Families are prominent, with couple families with children the largest group, and homes are overwhelmingly owner-occupied (90.3%). Council-led projects are underway or planned, including road and footpath improvements, a Jumping Creek revitalisation with better walking links and revegetation, and upgrades at Warranwood Primary School. Whether Warranwood suits you depends on what you value in a suburb.

On the figures for Warranwood, the current median house price of $1,265,000 is about 8.5 times a typical local household's annual income as recorded at the most recent Census. That places buying a house well above local incomes at the last Census. By contrast, a house rent of about $750 a week would take roughly 26.3% of a typical local household's weekly income at the last Census, which is a moderate share. So, on these numbers, buying appears considerably more stretched against local incomes than renting; whether that feels expensive for you will depend 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.

House rents in Warranwood rose 2.0% over the past 12 months, a modest increase, while median house values edged up 0.2% in the same period. In other words, the rent a house earns rose faster than its price over the year.

If rental income is your priority, the rent movement is the figure to watch; if capital growth is your focus, house prices showed only a marginal change. Whether that balance fits your plans depends on your 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.