Ashwood
A $1,555,000 median house price sits alongside an IRSAD decile 8 ranking, marking Ashwood as a settled upper-middle Melbourne address rather than a luxury enclave. The number that explains the suburb is land: separate houses make up 58.3% of stock and 31.6% of dwellings carry four or more bedrooms, far above the apartment-heavy inner ring. Prices have doubled since 2013, rising 100.6% from $775,000 at a 5.1% CAGR, then easing 6.9% from the early 2024 peak of $1,670,000. Overseas-born residents at 40.7% are 19.1 points above the national figure, led by 1,383 of Chinese ancestry, and university qualifications at 56.0% run 25.9 points higher than national, signalling a knowledge-economy population on quarter-acre blocks.
Population
7,154
Median Age
39.0
Household IncomeiMedian weekly household income (ABS Census)
$1,909/wk
DAs (12 months)iDevelopment Applications lodged in the past year
27
Median House
$1.6M
Apr-Jun 2024
The $1,555,000 median reflects a market built on standing houses rather than units, with separate houses at 58.3% and apartments at 29.4%. Family buyers drive demand because 39.4% of homes have three bedrooms and 31.6% have four or more, a stock profile suited to households averaging 2.5 people. Prices climbed 100.6% from $775,000 in 2013 at a 5.1% CAGR, then slipped 6.9% from the $1,670,000 peak of early 2024, opening a modest entry window. Monthly mortgage repayments of $2,600 push the mortgage-to-income ratio to 31.5%, above the 30% stress threshold, which is why the mortgage stress flag is set despite household income sitting in the 71st percentile. Owner-occupiers hold strong here, with 30.1% owning outright and 32.1% carrying a mortgage.
For Buyers
The $1,555,000 median reflects a market built on standing houses rather than units, with separate houses at 58.3% and apartments at 29.4%. Family buyers drive demand because 39.4% of homes have three bedrooms and 31.6% have four or more, a stock profile suited to households averaging 2.5 people. Prices climbed 100.6% from $775,000 in 2013 at a 5.1% CAGR, then slipped 6.9% from the $1,670,000 peak of early 2024, opening a modest entry window. Monthly mortgage repayments of $2,600 push the mortgage-to-income ratio to 31.5%, above the 30% stress threshold, which is why the mortgage stress flag is set despite household income sitting in the 71st percentile. Owner-occupiers hold strong here, with 30.1% owning outright and 32.1% carrying a mortgage.
For Investors
Renters make up 37.8% of households, a smaller tenant pool than inner-city suburbs but a stable one anchored to family housing. Weekly rent of $391 against a $1,555,000 median produces a gross yield near 1.3%, low and typical of a capital-growth play rather than an income one. The 9.0% vacancy rate is elevated and signals that landlords compete for tenants, tempering rent upside even though rents grew 27.7% over the decade. Demand support comes from net overseas migration of 581 a year, partly offset by internal outflow of 330. Development activity at 26 applications in 12 months is modest and dominated by tree removal and minor extensions rather than new dwelling supply, so stock stays scarce. Capital growth of 5.1% CAGR over 14 years is the real return, well above the 1.3% yield.
Development Activity
Total DAs
34
Last 12 Months
27
YoY ChangeiYear-over-year change in DA lodgements
+800.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Ashwood iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Parkhill Primary School
Prep-6 · 188 students
Ashwood High School
7-12 · 989 students
Demographics
The median age of 39 sits 1 year below the national median, a balanced rather than youthful profile. Overseas-born residents at 40.7% are 19.1 points above national, and the ancestry mix is telling: English leads at 1,760 but Chinese is a close second at 1,383, ahead of Irish at 651 and Scottish at 512, marking a strong Anglo and East Asian blend. Mandarin is the top non-English language at 360 speakers, followed by Greek at 126 and Cantonese at 115. University qualifications at 56.0% run 25.9 points above the national rate, consistent with the IEO decile 9 education ranking. Couples with children at 2,289 outnumber couples without children at 1,290, confirming a family-oriented household structure that drives the demand for larger homes.
Age Distribution
Bedrooms
Dwelling Structure
58.3%
Houses
12.2%
Townhouse
29.4%
Apartment
Tenure
Owner-occupiers dominate, with 30.1% owning outright and 32.1% on a mortgage against 37.8% renting, a tenure split healthier than renter-heavy inner suburbs. The stock is 58.3% separate houses, 29.4% apartments and 12.2% semi-detached, and bedroom counts skew large: 39.4% have three bedrooms and 31.6% have four or more, while just 8.1% are studios or one-bedroom. Prices ran from $775,000 in 2013 to $1,555,000 by mid-2024, up 100.6% at a 5.1% CAGR, peaking at $1,670,000 before a 6.9% pullback. The IER decile 5 reading sits below the IEO decile 9 and IRSAD decile 8, an anomaly that reflects high mortgage debt and a renter third diluting aggregate economic resources even where incomes and education rank high. Mortgage-to-income at 31.5% exceeds the stress line while rent-to-income at 20.5% stays comfortable.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,600
Rent / wk
$391
HH Size
2.5
Personal Income / wk
$830
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
9.0%
Unoccupied
267
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
20.5%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
31.5% stressed
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
23.8%
Couples, no children
5,418
Total families
Economy & Employment
Healthcare leads employment at 16.2% (435 workers), narrowly ahead of Professional/Tech at 16.1% (432), then Education at 12.3% (330), Finance at 7.4% (199) and Construction at 7.3% (196), a service and knowledge mix rather than an industrial one. Professionals dominate occupations at 1,223, more than double the 586 Managers, reinforcing the IEO decile 9 education ranking. Full-time employment runs at 65.6% and real income grew 30.4% over the decade, outpacing inflation. The frictions are visible too: unemployment at 6.4% is above the metropolitan average and participation at 58.7% is held down by 2,019 residents not in the labour force, partly retirees and partly carers, given 8.7% of residents need assistance. The IRSAD decile 8 confirms broad advantage despite these soft labour indicators.
Unemployment
3.1%
Labour Force
12,765
Unemployed
402
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
65.6%
Part-time
28.0%
Participation
58.7%
Employed
3,272
Occupations
Top Industries
University
56.0%
Postgraduate
17.6%
Born Overseas
40.7%
Dwellings
2,681
Transport to Work
Ashwood is car-dependent, with 85.5% of commuters driving and only 6.9% on public transport and 2.4% walking or cycling, reflecting a low-density layout of 2,811 people per square kilometre across 2.55 square kilometres. That car reliance is the main daily friction, traded for the space that draws families. Safety is a relative strength: the crime rate of 78.8 per 1,000 residents is moderate for metropolitan Melbourne, and of 564 total offences, property and deception offences account for 380 (67.4%) while crimes against the person are just 74. The IRSAD decile 8 ranking confirms top-tier socio-economic advantage. Community engagement shows in a volunteering rate of 15.6%, and a residential turnover of just 22.8% indicates 77.2% of residents stayed put, a sign of settled, satisfied households.
Drive
85.5%
Public Transport
6.9%
Walk / Cycle
2.4%
Work from Home
N/A
Population Forecast
+1.24%/yr
(+263 people/yr)
EstablishedPopulation growth in the forecast region runs at 1.24% a year, about 263 persons, a steady rather than rapid pace for an established suburb. The area recovered from a 2.4% COVID dip and now sits 5.5% above its pre-pandemic level, with medium forecasts projecting the region to reach 22,796 by 2031 from 21,139 in 2025. Overseas migration at 581 a year is the engine, while internal migration runs negative at 330, meaning new arrivals replace departing locals rather than adding on top of them. The gentrification score of 28 marks early signs, supported by a 25% population rise since 2011 and real income growth of 30.4%. Affordability improved from 59.9% in 2011 to 47.6% in 2021 as incomes rose faster than the cost burden, a sign of a maturing rather than displacing market.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+581
Net Internal / yr
-330
Gentrification Signal
Early signs
Population +25% since 2011, Net internal outflow -330/yr, Strong overseas inflow +581/yr, COVID recovered (-2% dip → full recovery)
Safety & Crime
Total Offences
564
Year ending June 2024
Rate per 1,000 People
78.8
Offence Categories
Source: Crime Statistics Agency Victoria / SA Police
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Ashwood compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Ashwood a good suburb to live in?
Ashwood suits families who want land and good schools access in Melbourne's east. The IRSAD decile 8 ranking is top-tier advantage, university qualifications at 56.0% run 25.9 points above national, and the crime rate of 78.8 per 1,000 is moderate. The trade-offs are heavy car reliance, with 85.5% driving, and a $1,555,000 median that puts it out of reach for many first buyers.
What is the median house price in Ashwood?
The median house price is $1,555,000 (Apr-Jun 2024), down 6.9% from the early-2024 peak of $1,670,000. Over 14 years prices doubled from $775,000 at a 5.1% CAGR, a rise of 100.6%. Monthly mortgage repayments average $2,600 and weekly rent is $391, giving a gross yield near 1.3%.
What schools are in Ashwood?
Detailed school records are not available in this dataset for Ashwood, so specific campuses cannot be listed here. Education levels are high, with 56.0% of residents holding university qualifications, 25.9 points above the national rate, and an IEO education ranking of decile 9, so families typically access well-regarded government and independent schools across the surrounding Monash and Whitehorse areas.
Is Ashwood safe?
The crime rate is 78.8 per 1,000 residents, moderate for metropolitan Melbourne, with 564 total offences recorded. Property and deception offences make up 380 of these (67.4%), while crimes against the person number just 74 and drug offences 14. The IRSAD decile 8 ranking and 77.2% residential stability point to a settled, lower-risk environment relative to inner-city suburbs.
Is Ashwood good for property investment?
Ashwood is a capital-growth play, not a yield one. The gross yield is near 1.3% ($391/week on $1,555,000) and the vacancy rate of 9.0% is elevated, so income returns are thin. The case rests on 5.1% CAGR over 14 years, net overseas migration of 581 a year, and scarce new supply, with just 26 development applications in 12 months and only 37.8% of homes rented.
How is Ashwood's population changing?
Growth in the forecast region runs at 1.24% a year, about 263 persons, with the medium forecast reaching 22,796 by 2031 from 21,139 in 2025. Overseas migration of 581 a year drives it, offset by internal outflow of 330. The median age of 39 is 1 year below national, and the area has recovered to 5.5% above its pre-COVID level.
What languages are spoken in Ashwood?
Overseas-born residents make up 40.7% of Ashwood, 19.1 points above the national figure. The top non-English language is Mandarin with 360 speakers, followed by Greek at 126, Cantonese at 115, Sinhala at 69 and Hindi at 48, reflecting strong East Asian and southern European communities alongside an English-speaking majority.
Is there much new development in Ashwood?
Development is modest, with 26 planning applications lodged in the past 12 months. Recent samples are dominated by VicSmart tree removal and minor works such as a decking and verandah addition rather than new dwellings, so housing supply stays tight. That scarcity supports the 5.1% CAGR seen over 14 years against limited new stock.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), state Valuer-General (house prices), Department of Jobs SALM (unemployment), ACARA (school ICSEA), state Crime Statistics agencies (offences), council DA portals (development applications). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
Explore Ashwood on the Map
View parcels, zoning overlays, DA applications, schools and more.
Open Interactive Map