Is it expensive to live in Wheelers Hill?

On the figures, housing in Wheelers Hill sits well above what a typical local household earned. A typical local household earned about $1,818 a week at the most recent Census. The median house price of $1,408,888 works out to about 14.9 times a typical local annual household income. For renting, a house at $760 a week would take about 42% of that weekly household income, a large share, while a unit at $575 a week would take about 32%, a sizeable share. If you're renting rather than buying, those rent shares are the most directly relevant numbers to consider. Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Is Wheelers Hill a good place to invest?

Over the past 12 months, Wheelers Hill saw house values rise a modest 3.7%, while house rents climbed a solid 5.6% and unit rents increased a solid 7.5%. That means for houses, rental income rose faster than capital value, and unit rents increased more than house rents over the period. 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.

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Wheelers Hill suburb profile

Wheelers Hill is an established Melbourne south-east suburb with tree-lined streets and a mix of mid-century brick homes and newer two-storey houses on generous garden blocks. The suburb is largely residential, with parks and reserves woven through its neighbourhoods and a relaxed suburban rhythm.

Local amenities include village shopping strips and larger retail centres nearby, alongside cafés, medical services and community facilities. Jells Park anchors the suburb with walking trails, wetlands and a lake, and the area is well connected by the Monash Freeway and bus services to surrounding centres.

Wheelers Hill property market performance

Current median dwelling price$972,944Past 3 months

Property growth+1.9%Past 12 months

Wheelers Hill's median house price is $1,408,888 and rose a moderate 3.7% over the last 12 months. There is no reliable median unit price because too few units have sold here recently for a median to be published. Over the last 3 months 51 houses sold, and the median house spent 36 days on the market over the last 12 months.

In Wheelers Hill, house rents rose a notable 5.6% over the last 12 months to an average of $760 a week, while unit rents rose a sizeable 7.5% to $575 a week.

	Houses	Units
Median price Past 3 months	$1.41M	N/A
Change in value Past 12 months	3.7%	-0.0%
Sold Past 3 months	51	5
Median days on market Past 12 months	36	N/A
Average rent Past 12 months	$760	$575
Change in rent Past 12 months	5.6%	7.5%

5 year median price trend for houses and units

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Wheelers Hill demographics

Wheelers Hill is an older community with many households owning their homes outright.

Couple families with children make up 47.8% of families, and 52.3% of homes are owned outright. At the 2021 Census, 20,652 people lived in Wheelers Hill.

Wheelers Hill and Victoria

	Suburb	VIC
Median age years	48	38
Median household income weekly	$1,818	$1,759
Couples with children share of families	47.8%	45.5%
Couples without children share of families	39.0%	37.6%
One-parent families share of families	12.0%	15.2%
Homes owned outright share of homes	52.3%	33.2%
Homes with a mortgage share of homes	33.2%	37.3%
Homes rented share of homes	14.5%	29.5%

Source: ABS 2021 Census. Shares of homes exclude other and not-stated tenure.

Wheelers Hill infrastructure, key developments and investment opportunities

Wheelers Hill's Jells Park Safe Trail redevelopment was allocated $5.9 million in the 2021 state budget; the project is described as delivering a 5 km Tan-style running track with sealed upgraded trails, lighting, drinking fountains at each kilometre and seating.

The Monash Special Developmental School in Wheelers Hill reached the final stage of its redevelopment in 2021–22. Wheelers Hill Primary School was included in the state's school upgrade program in the 2021–22 State Capital Program, with expenditure scheduled in 2024–25.

Suburbs near Wheelers Hill

Some popular suburbs near Wheelers Hill include:

How does Wheelers Hill compare to nearby suburbs?

Median house prices: Wheelers Hill’s median house price is 36.8% higher than Mulgrave’s.
Median unit prices: Wheelers Hill’s median unit price is 32.6% higher than Notting Hill’s.
House price growth: Over the past 12 months, house prices in Wheelers Hill have grown 5.4% higher than in Scoresby.
Unit price growth: Property prices in nearby Mulgrave have risen 14.9% more than in Wheelers Hill over the past year.
Selling speed for houses: Properties in Wheelers Hill are selling 35.7% faster than in Glen Waverley.
Investment considerations: In Wheelers Hill, the rental yield for house is 19.5% higher than the Melbourne average, while the rental yield for units is 3.4% lower.
House price growth: Over the past 12 months, house prices in Wheelers Hill have grown 46.1% higher than the average rate of growth across Melbourne.
Unit price growth:Over the past 12 months, unit prices in Wheelers Hill have grown 56.0% higher than the average rate of growth for units across Melbourne.

Common questions about Wheelers Hill

Is Wheelers Hill a nice place to live?
Wheelers Hill is anchored by Jells Park and is known for its tree-lined streets and a mix of mid-century brick homes and newer two-storey houses.

Many residents are older and a large share of households own their homes outright, with 52.3% owner-occupied, and couple families with children are a prominent group. Everyday amenity includes village shopping strips and larger retail centres nearby, cafés, medical services and community facilities, parks and reserves with walking trails, wetlands and a lake at Jells Park, and bus services with links to the Monash Freeway; the Jells Park Safe Trail redevelopment has funding allocated to deliver a Tan-style running track with sealed upgraded trails, lighting, drinking fountains and seating.
Is it expensive to live in Wheelers Hill?
On the figures, housing in Wheelers Hill sits well above what a typical local household earned. A typical local household earned about $1,818 a week at the most recent Census. The median house price of $1,408,888 works out to about 14.9 times a typical local annual household income. For renting, a house at $760 a week would take about 42% of that weekly household income, a large share, while a unit at $575 a week would take about 32%, a sizeable share. If you're renting rather than buying, those rent shares are the most directly relevant numbers to consider.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.
Is Wheelers Hill a good place to invest?
Over the past 12 months, Wheelers Hill saw house values rise a modest 3.7%, while house rents climbed a solid 5.6% and unit rents increased a solid 7.5%.

That means for houses, rental income rose faster than capital value, and unit rents increased more than house rents over the period.

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.

Choose the right real estate agents in Wheelers Hill

In Wheelers Hill ,86 agents are actively selling property, but a small number do the heavy lifting. Just 5 agents handled 41.1% of all sales in the past year, giving them a strong presence and deep experience in the local market.

Commission rates usually sit between 1.71% and 2.57%. Comparing agents and understanding what’s included in their fee structure can help you find the right mix of service, value, and motivation—without compromising on outcomes.

Get a head start and compare top local agents in Wheelers Hill

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