Get a property report and suburb profile for any property in Wheelers Hill

Wheelers Hill is an established, family-oriented suburb in Melbourne’s east, with leafy streets and ready access to Jells Park’s wetlands, walking trails and picnic areas. Housing is largely on generous suburban blocks, with many single-level brick homes from the 1970s and 80s alongside newer contemporary builds, which gives a settled residential feel. Day-to-day needs are met by a local shopping strip while larger centres such as The Glen and Glen Waverley are close by. The area is largely car friendly and served by regular buses to nearby train stations, so it suits families and people who value green space and quieter streets.

About 20,652 people live in Wheelers Hill and the median age is 48; most homes are owner-occupied (85.5%) and renters make up about one in seven dwellings. Monash Council has a precinct plan for Jells Park and the adjacent Waverley Women’s Sports Centre that includes upgraded sports facilities, a playspace and better pedestrian and shared-path connections. The library is listed for shelving renewal and there is state funding allocated for upgrades at Wheelers Hill Secondary College, so several local amenities are being refreshed.

Buying looks stretched against local incomes in Wheelers Hill. A median house price of $1,310,000 works out to about 13.9 times a typical local household's annual income at the last Census, which sits well above local incomes.

Renting is less stretched but still significant. A house rent of $760 a week would take about 41.8% of a typical local household's weekly income at the last Census (a large share), while a unit rent of $580 a week would take about 31.9% (a sizeable share). If you plan to rent rather than buy, those rent shares are the figures that will matter most to you; whether they feel 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.

Unit rents climbed 9.4% over the past year, the largest movement among the available figures. House values rose 6.5% over the year and house rents increased 6.3%, so for houses price growth and rental income moved at a very similar pace.

In Wheelers Hill, that means unit rental income has been the stronger performer this year, while houses delivered comparable gains in both value and rent. Whether that balance suits your investment goals and circumstances is for you to 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.