Canterbury
At $3.38 million median, Canterbury's house prices are roughly 5x the Melbourne metropolitan median, yet 49.2% of homes are owned outright with no mortgage, the clearest indicator of accumulated generational wealth. Household income sits in the 96.6th percentile nationally, and SEIFA places the suburb at decile 10 across all four indices, a clean sweep that fewer than 3% of Australian suburbs achieve. The 111 development applications in 12 months show that even at this price point, demand for redevelopment and renovation remains intense.
Population
7,800
Median Age
46.0
Household IncomeiMedian weekly household income (ABS Census)
$2,877/wk
DAs (12 months)iDevelopment Applications lodged in the past year
126
Median House
$3.4M
Apr-Jun 2024
The $3,382,500 median price reflects a 4.0% compound annual growth rate over 14 years from $1,950,000 in 2013, representing 73.5% total growth. Prices are 4.9% below the Q4 2023 peak of $3,555,000. Four-plus bedroom homes make up 45.3% of stock, the dominant type, consistent with the large-family, high-income profile. Six schools operate within the suburb, including 3 Independent schools with ICSEA scores above 1135, a density of high-performing schools that few Melbourne suburbs match. Mortgage stress is moderate at 28.1% of income despite the price level, because household incomes ($2,877/week) are proportionally high.
For Buyers
The $3,382,500 median price reflects a 4.0% compound annual growth rate over 14 years from $1,950,000 in 2013, representing 73.5% total growth. Prices are 4.9% below the Q4 2023 peak of $3,555,000. Four-plus bedroom homes make up 45.3% of stock, the dominant type, consistent with the large-family, high-income profile. Six schools operate within the suburb, including 3 Independent schools with ICSEA scores above 1135, a density of high-performing schools that few Melbourne suburbs match. Mortgage stress is moderate at 28.1% of income despite the price level, because household incomes ($2,877/week) are proportionally high.
For Investors
The 19.7% renter rate and 10.1% vacancy rate create a challenging investor equation. Weekly rent of $515 against a $3.38M median yields roughly 0.8% gross, among the lowest in metropolitan Melbourne. The investment thesis here is capital preservation and long-term growth (4.0% CAGR over 14 years) rather than rental income. The 111 development applications in 12 months indicate active renovation and subdivision activity, though heritage overlays constrain many properties. The aging population (senior share up 5.1pp) may eventually release housing stock through downsizing.
Development Activity
Total DAs
135
Last 12 Months
126
YoY ChangeiYear-over-year change in DA lodgements
+12500.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Canterbury iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Canterbury Primary School
Prep-6 · 639 students
Camberwell Grammar School
Prep-12 · 1346 students
Camberwell Girls Grammar School
Prep-12 · 777 students
Canterbury Girls Secondary College
7-12 · 775 students
Strathcona Baptist Girls' Grammar
Prep-12 · 814 students
Demographics
The median age of 46 is 6 years above the national median, with 66.2% university-educated, 36.1 percentage points above the national average. Chinese ancestry (1,549) is the 2nd largest group after English (2,348), and Mandarin (455 speakers) is the most common non-English language. Only 18.6% of the population moved in the past 5 years, indicating high residential stability compared to the national turnover rate. The 2.7 average household size is larger than the national 2.5, driven by the couples-with-children family structure. Professionals (1,500) and managers (874) together account for 68% of all occupations.
Age Distribution
Bedrooms
Dwelling Structure
64.7%
Houses
23.4%
Townhouse
11.1%
Apartment
Tenure
Prices ranged from $2,742,500 (Q1 2024) to $3,555,000 (Q4 2023) in recent quarters, reflecting the volatility typical of low-volume, high-value markets. The ownership profile skews heavily toward outright ownership (49.2%), higher than the national rate, because many residents purchased at much lower historical prices. Detached houses are 64.7% of stock, with semi-detached at 23.4% and apartments at 11.1%. The 4.0% CAGR since 2013 is solid but below Melbourne's inner-ring growth rate, partly because Canterbury started from a higher base of $1.95M.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$3,500
Rent / wk
$515
HH Size
2.7
Personal Income / wk
$1,102
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
10.1%
Unoccupied
312
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
17.9%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
28.1%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
25.2%
Couples, no children
6,523
Total families
Economy & Employment
Healthcare (20.4%) and professional/technical services (18.9%) together employ 39.3% of working residents, an exceptionally white-collar concentration. Education (10.9%) and finance (9.0%) round out a knowledge-economy profile. The workforce is dominated by professionals (1,500) and managers (874), which together outnumber all other occupation categories combined. Unemployment at 4.0% is below the state average. The SEIFA IEO decile 10 confirms the suburb sits in the highest bracket nationally for education and occupational status. The gap between IEO (10) and IER (9) is minimal, meaning education converts to economic resources here.
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
59.8%
Part-time
36.2%
Participation
55.3%
Employed
3,484
Occupations
Top Industries
University
66.2%
Postgraduate
21.9%
Born Overseas
32.5%
Dwellings
2,787
Transport to Work
Six schools operate within Canterbury, led by Canterbury Primary (Government, ICSEA 1192, 639 enrolled) and Camberwell Grammar (Independent, ICSEA 1192, 1,346 enrolled). Canterbury Girls Secondary College (Government, ICSEA 1141, 775 enrolled) provides a selective-level public option. Crime at 31.2 per 1,000 is well below the Victorian average, with property offences (187 of 243 total) being the main category. Public transport usage at 6.8% is low, but walking/cycling at 6.6% suggests some local errands are walkable. The 20.8% volunteering rate is above the national average, consistent with the established community profile.
Drive
81.8%
Public Transport
6.8%
Walk / Cycle
6.6%
Work from Home
N/A
Safety & Crime
Total Offences
243
Year ending June 2024
Rate per 1,000 People
31.2
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 Canterbury compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Canterbury a good suburb to live in?
Canterbury ranks in SEIFA decile 10 across all 4 indices, placing it among Australia's most advantaged suburbs. The crime rate of 31.2 per 1,000 is well below the state average, 6 schools include 3 with ICSEA above 1135, and the 49.2% outright ownership rate signals deep residential stability. The cost of entry at $3.38M is the primary barrier.
What is the median house price in Canterbury?
The median house price is $3,382,500 as of mid-2024, down 4.9% from the Q4 2023 peak of $3,555,000. Over 14 years, prices have grown at 4.0% CAGR from $1,950,000 in 2013, totalling 73.5% cumulative growth.
What schools are in Canterbury?
Canterbury has 6 schools. Canterbury Primary (Government, ICSEA 1192, 639 enrolled) and Camberwell Grammar (Independent, ICSEA 1192, 1,346 enrolled) co-lead. Camberwell Girls Grammar (Independent, ICSEA 1180, 777 enrolled) and Canterbury Girls Secondary (Government, ICSEA 1141, 775 enrolled) also serve the suburb. All 6 schools have ICSEA above 1000.
Is Canterbury safe?
The crime rate of 31.2 per 1,000 residents is substantially below the Victorian state average. Property and deception offences account for 77% of incidents (187 of 243 total). Crimes against the person numbered just 24, approximately 3 per 1,000 residents.
Is Canterbury good for property investment?
Canterbury is a capital-preservation play, not a yield play. Gross rental yield is approximately 0.8% ($515/week rent on $3.38M median), and vacancy sits at 10.1%. The 4.0% CAGR over 14 years and SEIFA decile 10 profile ensure stable long-term value. The 111 DAs in 12 months indicate active redevelopment, which supports land value appreciation.
How is Canterbury's population changing?
Growth is slow at 0.53% annually (66 people/year), projected to reach 12,919 by 2031. The suburb is aging: seniors rose 5.1 percentage points and working-age share fell 2.8 percentage points over the decade. Only 7.6% total population growth in 10 years reflects the physical constraints of an established, heritage-protected suburb.
How active is development in Canterbury?
Very active for an established suburb: 111 planning applications were lodged in the past 12 months, including multi-dwelling developments and heritage overlay modifications. This volume is driven by renovation and subdivision of large blocks rather than greenfield construction.
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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