Forest Hill

POSTAL CODE: VIC, 3131

HOUSE

UNIT

FOREST HILL, 3131 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in VIC have risen as a whole, pulling FOREST HILL, 3131 values up and netting property investors a capital gain of 1.88% for the past year.

Investors saw the median home price rise to $1,222,500.

Profits due to an upward trend in home prices in the suburb averaged 2.1% per annum over a 3-year period.

FOREST HILL now ranks at the 507th place on a list of fastest growing suburbs in the territory.

Figures from the previous quarter show that capital gains for real estate buyers in FOREST HILL are low, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $650 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In FOREST HILL, homes and units usually stay on listing for an average of 41.3 days.

In 2016, 134 properties were sold in FOREST HILL during the past year, making it the 618th most active market in VIC based on total real estate transactions.

FOREST HILL ranks 411th in VIC when it comes to estimated capital gains experienced by property investors over the past three years.

FOREST HILL, 3131 has a capital gain of -5.11% for the past year, which is lower than average compared to its 3.06% growth within a five-year period.

With the median home price in FOREST HILL sitting at $807,500, and the average rent at $580, property owners could potentially earn a 3.73% increase in gross rental yield.

Property investors have seen a -2.12% drop in FOREST HILL based on a decrease in median home prices for the past three months.

A survey of average capital gains or median home price increase in suburbs across the country shows that FOREST HILL, 3131 obtained a 7.96% growth over a ten-year period. It ranks 302nd on our list of suburbs that property investors should look into.

Surburb overview

Forest Hill is a suburb of Whitehorse, approximately 18 kilometres east of Melbourne's Central Business District. According to the 2021 Census, it has a population of 10,780

Forest Hill is a family-friendly suburb with tree-lined streets, various parks, and recreational facilities. It notably houses the Channel 10 studios, now owned by Fremantle Media, where the long-running soap ‘Neighbours’ was filmed.

Forest Hill Chase Shopping Centre is a central retail hub in the area, offering a wide range of stores, dining options, and entertainment facilities.

Regarding housing, the median sale price in Forest Hill is approximately $1,205,000 for houses and $835,000 for units. Rental yields are around 2.80% for houses and 3.96% for units.

Forest Hill offers a blend of residential living, essential services, and recreational opportunities, making it an attractive suburb for families and individuals seeking a balanced lifestyle.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,222,500	$807,500
Growth Report
Median Quarterly	0.29%	-2.12%
Median 12 month	1.88%	-5.11%
Median 3 years	6.3%	-0.31%
Median 5 years	24.68%	3.06%
10 years average annual	3.73%	7.96%
Weekly media advert. rent	$650	$580
Time on Market	41.3 days	51.3 days
Gross Rental Yield Percent	2.76%	3.73%

Demographics (Median Values)*

Total Population 22504

Weekly Household Income 1428

Household Size 2.60

Average Age 39

Monthly Loan Repayment 1950

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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