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Wheelers Hill

POSTAL CODE: VIC, 3150
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A steady increase in median property prices over a five-year period in the suburb translates to a 5.52% capital gain.

Property investors in WHEELERS HILL enjoyed capital gains of 9.29% over the last 12 months translating to lower returns compared with its peers in the territory.

The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $1,530,000.

Profits due to an upward trend in home prices there averaged 1.84% per annum over a 3-year period.

Home owners selling their properties and realtors in WHEELERS HILL usually have to wait an average of 43.1 days days before their assets are lifted off the market.

Average weekly rents on listings have reached the $707.5 mark, reflecting a 2.4% increase in returns based on the current median price in WHEELERS HILL.

WHEELERS HILL, 3150 places 276th in Australia based on median property value growth during the quarter.

Surburb overview

Wheelers Hill is a middle-ring suburb in Melbourne’s south-east, located within the City of Monash. The suburb is situated approximately 22 kilometres south-east of the Melbourne central business district and is bordered by Glen Waverley, Mulgrave, Notting Hill and Rowville.

Wheelers Hill recorded a population of around 20,000 residents at the 2021 census, reflecting its role as a well-established residential area. The demographic profile is dominated by family households and long-term residents, with a median age above the metropolitan average.

Household incomes are generally above the Melbourne median, and home-ownership rates are relatively high compared with those in inner-city suburbs. 

Housing in Wheelers Hill is predominantly detached dwellings on traditional suburban blocks, with limited townhouse and low-rise apartment development. The suburb has retained a low- to moderate-density built form, with established streetscapes and significant tree cover.

Public transport access is largely bus-based, with no railway station located within Wheelers Hill itself. Bus routes connect residents to nearby railway stations at Glen Waverley, Mulgrave and other surrounding suburbs, supporting commuting and local travel.

Road access is a defining feature, with the Monash Freeway forming the suburb’s northern boundary and providing direct connections to central Melbourne and the south-eastern growth corridor. Additional arterial roads such as Ferntree Gully Road and Springvale Road support east–west and north–south movement.

Local retail and service needs are met through neighbourhood shopping centres, including Wheelers Hill Shopping Centre, which contains supermarkets, cafés and everyday services. Larger retail and employment hubs, including Glen Waverley and Chadstone, are easily accessed by road.

Educational facilities in and around Wheelers Hill include several government and non-government primary and secondary schools. Tertiary education institutions, including Monash University, are located in nearby suburbs and influence local travel patterns.

Recreational amenities are a notable feature, with Jells Park providing extensive open space, walking and cycling trails, picnic facilities and sporting areas. Additional reserves and shared paths link residential areas to broader open space networks.

Employment among residents spans professional services, education, health care, retail and trades, with many commuting to employment centres across metropolitan Melbourne.

Wheelers Hill’s identity is shaped by its family-oriented housing, road-based connectivity and access to significant parkland within Melbourne’s south-east.

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