Aspendale Gardens
Most bayside Melbourne pockets fill in with apartments as prices climb, yet Aspendale Gardens has held an 84.2% separate-house share while reaching a $1,168,500 median, and the two facts feed each other. The suburb scores decile 10 on the IER resources index and decile 9 on IRSAD, placing it firmly in the upper advantage tier, with household income in the 84th percentile nationally. Family homes dominate the layout: 52.6% of dwellings carry four or more bedrooms, average household size is 2.9, and the median age of 43 runs three years above the national figure. University qualifications reach 39.7%, which is 9.6 points above national, and 32.4% of residents were born overseas.
Population
6,427
Median Age
43.0
Household IncomeiMedian weekly household income (ABS Census)
$2,210/wk
DAs (12 months)iDevelopment Applications lodged in the past year
4
Median House
$1.2M
Apr-Jun 2024
The $1,168,500 median reflects a market that sits below its own peak, down 5.4% from the $1,235,000 high set in the 2023 June quarter, so buyers are entering after a modest correction rather than at the top. Stock is overwhelmingly family-oriented: 84.2% are separate houses and 52.6% have four or more bedrooms, while two-bedroom dwellings make up just 10.8%, which means downsizers have little to choose from. Mortgage holders at 47.3% outnumber outright owners at 41.7%, and the mortgage-to-income ratio of 20.9% sits well below the 30% stress threshold, helped by household incomes in the 84th percentile. Monthly repayments average $2,000, low for a million-dollar median, because much of the borrowing was locked in before the recent price run.
For Buyers
The $1,168,500 median reflects a market that sits below its own peak, down 5.4% from the $1,235,000 high set in the 2023 June quarter, so buyers are entering after a modest correction rather than at the top. Stock is overwhelmingly family-oriented: 84.2% are separate houses and 52.6% have four or more bedrooms, while two-bedroom dwellings make up just 10.8%, which means downsizers have little to choose from. Mortgage holders at 47.3% outnumber outright owners at 41.7%, and the mortgage-to-income ratio of 20.9% sits well below the 30% stress threshold, helped by household incomes in the 84th percentile. Monthly repayments average $2,000, low for a million-dollar median, because much of the borrowing was locked in before the recent price run.
For Investors
Renters are scarce here at 11.0% of households, the smallest of the three tenure groups, so the suburb suits owner-occupiers more than landlords chasing volume. Weekly rent of $496 against the $1,168,500 median implies a gross yield near 2.2%, modest, though rent has climbed 34.2% over the measured period and the vacancy rate of 3.0% signals a tight rental pool with little surplus stock. Demand support leans on overseas migration, which adds about 106 residents a year and more than offsets the net internal outflow of 83. Development activity is minimal at four applications in 12 months, mostly tree-removal permits rather than new dwellings, so investors gain scarcity protection but should expect returns weighted toward capital growth over yield.
Development Activity
Total DAs
4
Last 12 Months
4
YoY ChangeiYear-over-year change in DA lodgements
—
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Aspendale Gardens iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Aspendale Gardens Primary School
Prep-6 · 592 students
Demographics
The median age of 43 is 3.0 years above the national figure, and the trajectory is aging: the senior share rose 6.5 points while the young share fell 5.1 points over the decade. Overseas-born residents reach 32.4%, which is 10.8 points above national, yet ancestry stays largely Anglo-Celtic, led by English (1,885), Irish (609) and Scottish (464), with Chinese (495) the largest non-European group. The leading non-English languages are Mandarin (107) and Greek (107), followed by Cantonese (46) and Italian (46). University qualifications at 39.7% run 9.6 points above national. Average household size is 2.9, which is 0.4 above national, consistent with the family profile where couples with children (2,379) far outnumber couples without (1,131).
Age Distribution
Bedrooms
Dwelling Structure
84.2%
Houses
2.5%
Townhouse
13.3%
Apartment
Tenure
Tenure tilts toward owners with active debt: 47.3% carry a mortgage, 41.7% own outright and only 11.0% rent, an unusually low rental share that keeps the suburb owner-occupier in character. The stock is 84.2% separate houses against just 13.3% apartments, and four-plus bedroom homes at 52.6% dominate over three-bedroom (36.1%) and two-bedroom (10.8%) dwellings. The median house price has nearly doubled, rising 99.2% from $586,500 in 2013 to $1,168,500, a compound annual growth rate of 5.0% over 14 years, though it now sits 5.4% below the 2023 peak. Mortgage-to-income at 20.9% and rent-to-income at 22.4% both stay below the 30% stress line, a comfortable position that reflects household incomes in the 84th percentile carrying the elevated prices.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,000
Rent / wk
$496
HH Size
2.9
Personal Income / wk
$810
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
3.0%
Unoccupied
67
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
22.4%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
20.9%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
19.5%
Couples, no children
5,798
Total families
Economy & Employment
The workforce concentrates in service sectors rather than corporate finance: Healthcare leads at 15.9% (363 workers), Education follows at 12.2% (277), then Construction at 10.0%, Manufacturing at 9.6% and Retail at 9.3%. By occupation, Professionals (778) and Managers (502) form the largest groups, which aligns with the decile 8 IEO score for education and occupation. Unemployment is low at 4.1% and the full-time employment rate is 62.6%, while participation reads 63.0%, held back by 1,646 residents not in the labour force given the older age profile. One anomaly stands out: the IER resources index scores decile 10, two deciles above the IEO, because the high rate of debt-free and mortgaged home ownership lifts aggregate household wealth above what local incomes alone would predict.
Unemployment
3.6%
Labour Force
5,425
Unemployed
196
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
62.6%
Part-time
33.3%
Participation
63.0%
Employed
3,197
Occupations
Top Industries
University
39.7%
Postgraduate
9.1%
Born Overseas
32.4%
Dwellings
2,153
Transport to Work
This is a car-dependent suburb: 89.9% of commuters drive, far above the national norm, while only 2.1% use public transport and 2.7% walk or cycle, a function of the low-density 1,984 residents per square kilometre layout. Safety is a clear strength, with a crime rate of 27.1 per 1,000 residents and 174 recorded offences, of which property and deception (115) account for the bulk while crimes against the person stay low at 32. The suburb scores decile 9 on the IRSD disadvantage index, the upper tier, meaning few residents face deprivation, and only 5.4% (338 people) need daily assistance despite the median age of 43. No schools sit inside the 3.24 square kilometre boundary, so families rely on institutions in neighbouring Aspendale and Edithvale, a practical trade-off for the quiet residential setting.
Drive
89.9%
Public Transport
2.1%
Walk / Cycle
2.7%
Work from Home
N/A
Population Forecast
+0.54%/yr
(+49 people/yr)
EstablishedAspendale Gardens reads as an established, slow-growth suburb: annual population growth is just 0.54%, about 49 residents a year, and the 10-year change of 1.1% confirms it is close to built out. Medium forecasts lift the population from roughly 9,344 in 2026 to 9,589 by 2031, a gentle trend continuation rather than a boom. Overseas migration of 106 a year is the only positive driver, offsetting net internal outflow of 83. The gentrification score reads 14 with a not-gentrifying stage, which fits a suburb already at decile 9 advantage with little room to climb. Affordability worsened from 56.7% in 2011 to 60.3% in 2021, and real income growth of just 2.7% over the decade lagged the price gains, tightening the buy-in for newcomers.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+106
Net Internal / yr
-83
Gentrification Signal
Not gentrifying
Safety & Crime
Total Offences
174
Year ending June 2024
Rate per 1,000 People
27.1
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 Aspendale Gardens compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Aspendale Gardens a good suburb to live in?
Aspendale Gardens scores decile 10 on the IER resources index and decile 9 on IRSAD, the upper advantage tier, with household income in the 84th percentile nationally. It is family-oriented, with 84.2% separate houses and a low crime rate of 27.1 per 1,000. The main trade-off is heavy car dependence, with 89.9% of commuters driving.
What is the median house price in Aspendale Gardens?
The median house price is $1,168,500 as of the 2024 June quarter, sitting 5.4% below the $1,235,000 peak set in 2023. Prices have risen 99.2% from $586,500 in 2013, a 5.0% compound annual rate. Weekly rent averages $496 and monthly mortgage repayments run about $2,000.
What schools are in Aspendale Gardens?
No schools are recorded inside the 3.24 square kilometre Aspendale Gardens boundary in this dataset, so families use schools in neighbouring suburbs such as Aspendale and Edithvale. The local population is well educated, with university qualifications at 39.7%, which is 9.6 points above the national figure.
Is Aspendale Gardens safe?
Aspendale Gardens recorded 174 offences for a crime rate of 27.1 per 1,000 residents, low for metropolitan Melbourne. Property and deception offences make up the bulk at 115, while crimes against the person stay low at 32. The suburb also scores decile 9 on the IRSD disadvantage index, the upper tier.
Is Aspendale Gardens good for property investment?
Rent of $496 a week against the $1,168,500 median gives a gross yield near 2.2%, modest, though rent has grown 34.2% and the vacancy rate is tight at 3.0%. Only 11.0% of households rent, so the tenant pool is small. Overseas migration of 106 a year supports demand, but returns lean on capital growth over yield.
How is Aspendale Gardens's population changing?
Population growth is slow at 0.54% annually, about 49 residents a year, with a 1.1% rise over 10 years. Forecasts lift the count to roughly 9,589 by 2031. The profile is aging, with the senior share up 6.5 points and the young share down 5.1 points over the decade.
What languages are spoken in Aspendale Gardens?
About 32.4% of residents were born overseas, 10.8 points above the national figure. English dominates, while the most common non-English languages are Mandarin (107 speakers), Greek (107), Cantonese (46) and Italian (46), reflecting a modest but established international resident mix.
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.
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