Bunyip
With 98.3% of dwellings being separate houses, Bunyip sits at the detached end of the Victorian housing spectrum, well above the national average, and prices have more than doubled since 2013. The median house price of $702,500 reflects a 5.5% CAGR over 14 years, and household income ranks in the 72nd percentile nationally despite the suburb scoring decile 4 on the IEO education and occupation index. That gap, high income paired with below-average qualifications, points to a blue-collar and trades workforce: Construction accounts for 21.8% of local employment, the single largest industry by a wide margin.
Population
3,131
Median Age
38.0
Household IncomeiMedian weekly household income (ABS Census)
$1,927/wk
DAs (12 months)iDevelopment Applications lodged in the past year
12
Median House
$702K
Apr-Jun 2024
The median house price is $702,500 as of April-June 2024, down 21.1% from the peak of $890,000 in late 2023. The longer-term picture remains positive: prices have risen 111.3% since 2013 at a 5.5% annual rate. Monthly mortgage repayments average $1,950, producing a mortgage-to-income ratio of 23.4%, comfortably below the 30% stress threshold, which is lower than most Melbourne fringe markets. Stock is almost exclusively detached houses at 98.3%, with 47.9% having four or more bedrooms, making Bunyip practical for larger families. Outright owners account for 34.2% of households, while mortgage holders make up 53.9%, consistent with a mortgage-belt suburb that still attracts buyers rather than long-term settled retirees.
For Buyers
The median house price is $702,500 as of April-June 2024, down 21.1% from the peak of $890,000 in late 2023. The longer-term picture remains positive: prices have risen 111.3% since 2013 at a 5.5% annual rate. Monthly mortgage repayments average $1,950, producing a mortgage-to-income ratio of 23.4%, comfortably below the 30% stress threshold, which is lower than most Melbourne fringe markets. Stock is almost exclusively detached houses at 98.3%, with 47.9% having four or more bedrooms, making Bunyip practical for larger families. Outright owners account for 34.2% of households, while mortgage holders make up 53.9%, consistent with a mortgage-belt suburb that still attracts buyers rather than long-term settled retirees.
For Investors
Investors face a low-yield environment: weekly rent of $320 against a $702,500 median implies a gross yield near 2.4%, below the 3% threshold many investors seek. The vacancy rate of 6.2% is elevated compared to Melbourne suburban averages, suggesting the rental pool is thin relative to stock. Only 11.9% of households rent, one of the lower renter shares in regional VIC, so demand for rental properties is limited. On the positive side, net internal migration averages 42 residents per year and overseas migration adds 30 more, supporting steady population growth of 1.44% annually. Development activity is modest at 11 applications in 12 months, mostly extensions and alterations rather than new supply, so the detached stock is not being diluted.
Development Activity
Total DAs
26
Last 12 Months
12
YoY ChangeiYear-over-year change in DA lodgements
+200.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Bunyip iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Columba Catholic School
Prep-6 · 291 students
Bunyip Primary School
Prep-6 · 176 students
Demographics
The median age of 38 is 2.0 years below the national figure, and household size of 2.8 is 0.3 above national average, reflecting a family-oriented composition. Couples with children (1,296 families) outnumber couples without children (647), and the household income sits in the 72.1st percentile nationally. Overseas-born residents are 9.1%, which is 12.5 percentage points below the national figure, and ancestry is strongly Anglo-Celtic, led by English (1,326), Irish (405) and Scottish (254). University qualifications reach only 18.8%, which is 11.3 points below the national average, consistent with the decile 4 IEO score and the trades and construction employment base. The aging trajectory is mild, with the senior share rising 4 points and young share falling 2.1 points over the decade.
Age Distribution
Bedrooms
Dwelling Structure
98.3%
Houses
1.7%
Townhouse
N/A
Apartment
Tenure
Tenure is skewed toward ownership: 34.2% own outright and 53.9% hold a mortgage, compared to just 11.9% renting, well below state and national norms. The dominance of four-plus bedroom homes at 47.9% points to a family demographic that needs space rather than convenience. Prices have risen from $332,500 in 2013 to $702,500 in mid-2024, a 111.3% gain, though they remain 21.1% below the October 2023 peak of $890,000. The stock is 98.3% separate houses, with semi-detached at only 1.7% and no apartment data recorded, making this one of the most detached-dominant markets in VIC. Rent-to-income sits at 16.6%, below the 30% stress line, meaning tenants are not financially stretched relative to local incomes.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,950
Rent / wk
$320
HH Size
2.8
Personal Income / wk
$779
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
6.2%
Unoccupied
67
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
16.6%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
23.4%
Community Profile
Ancestry
Household Composition
24.8%
Couples, no children
2,607
Total families
Economy & Employment
Construction dominates the local economy at 21.8% of employment (205 workers), nearly 50% higher than the next sector, Healthcare at 14.5% (136 workers). Education follows at 11.6% (109 workers), with Professional/Tech and Public Admin each at 6.7%. The workforce is mixed by occupation: Professionals (200) and Clerical/Admin (199) are the largest groups, but Labourers (158) and Community/Personal (172) workers are also prominent, reflecting the trades character. The unemployment rate is 3.0%, below the national average, and the full-time employment rate of 62.3% is reasonable. The SEIFA IRSD decile of 7 shows moderate advantage on relative disadvantage measures, while the IRSAD decile of 6 is near the national median, giving a balanced economic picture. Real incomes grew 16.6% over the decade.
Unemployment
3.0%
Labour Force
6,051
Unemployed
184
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
62.3%
Part-time
34.7%
Participation
57.2%
Employed
1,345
Occupations
Top Industries
University
18.8%
Postgraduate
3.5%
Born Overseas
9.1%
Dwellings
1,010
Transport to Work
Car dependency is high: 91.6% of residents drive to work and only 1.4% use public transport, which is significantly lower than Melbourne suburban norms, reflecting the rural-fringe location. Volunteering at 14.5% is solid and indicates community engagement. The crime rate of 39.0 incidents per 1,000 residents encompasses 122 recorded offences, led by justice procedures (47) and property offences (45). The IRSAD decile of 6 sits near the national median, neither highly advantaged nor disadvantaged. Housing stress is absent: the mortgage-to-income ratio of 23.4% and rent-to-income of 16.6% are both well below stress thresholds. No schools are recorded in the suburb dataset, so families rely on schools in nearby towns. Resident stability is high: 78.2% stayed at the same address, compared to a turnover rate of 21.8%.
Drive
91.6%
Public Transport
1.4%
Walk / Cycle
1.8%
Work from Home
N/A
Population Forecast
+1.44%/yr
(+149 people/yr)
EstablishedAnnual population growth runs at 1.44%, adding roughly 149 residents per year, and the 10-year population change of 20.9% classifies Bunyip as a growing outer suburban market. The medium forecast projects the broader area reaching 11,258 by 2031, up from 10,366 in 2025. Migration is balanced: 42 net internal arrivals and 30 overseas arrivals per year provide a stable demand floor. The gentrification score of 24 with an early-signs stage is supported by signals including population growth of 26% since 2011 and university qualification share rising from 7% to 18%. Affordability has been stable, moving from 42.1% in 2011 to 40.5% in 2021, which is lower pressure than many comparable Victorian towns. Rent grew 38.2% over the period, outpacing income growth of 16.6%.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Balanced
Net Overseas / yr
+30
Net Internal / yr
+42
Gentrification Signal
Early signs
Population +26% since 2011, Accelerating: 7% → 18%
Safety & Crime
Total Offences
122
Year ending June 2024
Rate per 1,000 People
39.0
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 Bunyip compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Bunyip a good suburb to live in?
Bunyip suits families and owner-occupiers seeking detached housing on the Melbourne fringe. Household income ranks in the 72nd percentile nationally and housing stress is low, with mortgage-to-income at 23.4% and rent-to-income at 16.6%. Car dependency is high at 91.6% driving to work, so it suits those with their own transport.
What is the median house price in Bunyip?
The median house price is $702,500 as of April-June 2024. Prices peaked at $890,000 in late 2023 and are currently 21.1% below that peak. Over the longer term, prices have risen 111.3% from $332,500 in 2013, a 5.5% compound annual growth rate over 14 years.
What schools are in Bunyip?
No schools are recorded inside the Bunyip boundary in this dataset. Families typically access schools in neighbouring towns. The local university qualification rate is 18.8%, which is 11.3 percentage points below the national figure, reflecting the trades-oriented workforce rather than the absence of education infrastructure.
Is Bunyip safe?
Bunyip recorded 122 offences in the latest period, giving a crime rate of 39.0 per 1,000 residents. The largest categories were justice procedures offences (47) and property and deception offences (45). The IRSD decile of 7 indicates moderate advantage nationally, consistent with a settled, low-disadvantage community.
Is Bunyip good for property investment?
Rental demand is limited: only 11.9% of households rent, compared to higher shares in urban markets, and the vacancy rate of 6.2% is elevated. Weekly rent of $320 against a $702,500 median gives a gross yield near 2.4%, below average. Population growth of 1.44% per year and balanced migration support long-term capital growth prospects over yield.
How is Bunyip's population changing?
Population grows at 1.44% annually, adding around 149 residents per year. The 10-year change of 20.9% shows consistent outward expansion from Melbourne. The area is forecast to reach around 11,258 residents by 2031. The trajectory is mildly aging, with the senior share rising 4 points and the young share falling 2.1 points over the decade.
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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