Chelsea
Apartments outnumber houses in Chelsea: 41.7% of dwellings are apartments versus 34.7% detached houses, an unusual ratio for a bayside suburb 30 km from Melbourne's CBD. The median house price peaked at $1,400,000 in mid-2023 then dropped 15.7% to $1,180,000 by mid-2024, one of the steepest recent corrections among bayside VIC suburbs. Rents, by contrast, surged 50% over the decade, creating a growing gap between owners' paper losses and tenants' rising costs. Crime sits at 87.7 per 1,000 residents, above the metropolitan average.
Population
8,347
Median Age
41.0
Household IncomeiMedian weekly household income (ABS Census)
$1,683/wk
DAs (12 months)iDevelopment Applications lodged in the past year
44
Median House
$1.2M
Apr-Jun 2024
The median house price of $1,180,000 is down 15.7% from the $1,400,000 peak in mid-2023, representing a rare buying window in bayside Melbourne. Over 14 years, prices still grew from $577,500 (2013) at a CAGR of 5.2%. Apartments dominate at 41.7%, so unit buyers have more choice than house buyers. Two-bedroom homes account for 41.7% and 3-bedroom for 41.0%, leaving 4+ bedrooms at just 13.8%. Mortgage repayments at $2,008/month consume 27.6% of income, below stress levels. Household income at the 58th percentile is modest for a $1.18M suburb, suggesting equity rollovers from prior sales fund many purchases.
For Buyers
The median house price of $1,180,000 is down 15.7% from the $1,400,000 peak in mid-2023, representing a rare buying window in bayside Melbourne. Over 14 years, prices still grew from $577,500 (2013) at a CAGR of 5.2%. Apartments dominate at 41.7%, so unit buyers have more choice than house buyers. Two-bedroom homes account for 41.7% and 3-bedroom for 41.0%, leaving 4+ bedrooms at just 13.8%. Mortgage repayments at $2,008/month consume 27.6% of income, below stress levels. Household income at the 58th percentile is modest for a $1.18M suburb, suggesting equity rollovers from prior sales fund many purchases.
For Investors
Renter share at 32.7% and vacancy at 7.8% create a mixed signal: tenants exist, but the high vacancy suggests competition from holiday lets or oversupply in the apartment segment. Weekly rent at $375 on a $1.18M median gives a gross yield of roughly 1.7%, among the lowest in southeast Melbourne. Rent grew 50% over the decade, outpacing income growth of 27.9%, so further rent increases face affordability ceilings. Development activity at 44 DAs in 12 months includes multi-dwelling construction and subdivisions. Population growth at 1.26% annually is steady, and net internal migration is positive at +66/year.
Development Activity
Total DAs
58
Last 12 Months
44
YoY ChangeiYear-over-year change in DA lodgements
+1000.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Chelsea iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
St Joseph's School
Prep-6 · 317 students
Chelsea Primary School
Prep-6 · 360 students
Demographics
English ancestry leads at 3,180, followed by Irish (1,109), Scottish (883), and Italian (475). Greek (70 speakers) and Italian (41) are the top non-English languages, reflecting Melbourne's southern European heritage. University attainment at 39.6% sits 9.5 pp above the national average. Overseas-born at 25.4% is 3.8 pp above national. The median age of 41 (1 year above national) and a senior share increase of 4.5 pp over the decade confirms an aging trajectory. Households average just 2.2 people, lower than the national 2.5, consistent with the apartment-heavy stock and 28.6% couples-without-children rate.
Age Distribution
Bedrooms
Dwelling Structure
34.7%
Houses
23.5%
Townhouse
41.7%
Apartment
Tenure
Prices moved from $577,500 in 2013 to $1,180,000 in mid-2024, a 104.3% gain (5.2% CAGR over 14 years). The peak-to-current drop of 15.7% from $1,400,000 is notable. Ownership splits: 29.7% outright, 37.6% mortgage, 32.7% renting. Apartments (41.7%) outnumber detached houses (34.7%), with semi-detached at 23.5%. This makes Chelsea more apartment-dense than most bayside suburbs. Bedroom sizes cluster at 2 (41.7%) and 3 (41.0%), with only 13.8% at 4+ bedrooms. Mortgage stress at 27.6% of income sits just below the threshold, though the 15.7% price correction has improved entry-level affordability.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,008
Rent / wk
$375
HH Size
2.2
Personal Income / wk
$951
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
7.8%
Unoccupied
304
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
22.3%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
27.6%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
28.6%
Couples, no children
6,124
Total families
Economy & Employment
Healthcare (16.1%), Education (15.4%), Construction (11.2%), and Professional/Tech (11.1%) are the top employers, together covering 53.8% of jobs. Public Admin (8.0%) rounds out the top 5. Professionals dominate occupations at 1,206 workers, followed by Managers (618) and Clerical/Admin (611). Unemployment at 3.7% is below the national average, and full-time employment at 66.5% is healthy. SEIFA tells a divergent story: IEO decile 8 (strong education) but IER decile 5 (middling economic resources). This gap suggests a population that is well-educated but not proportionally wealthy, possibly due to public-sector career concentration.
Unemployment
3.0%
Labour Force
3,910
Unemployed
117
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
66.5%
Part-time
29.8%
Participation
59.4%
Employed
3,957
Occupations
Top Industries
University
39.6%
Postgraduate
9.3%
Born Overseas
25.4%
Dwellings
3,606
Transport to Work
Crime at 87.7 per 1,000 residents sits above the Melbourne metro average. Property and deception offences account for 421 of 732 total incidents. Public transport captures 3.0% of commuters, and 89.3% drive. Chelsea has 2 schools: St Joseph's School (Catholic primary, ICSEA 1084, 317 students) and Chelsea Primary School (Government, ICSEA 1075, 360 students). Both score well above the national 1000 benchmark, indicating strong local primary education. Need-for-assistance at 7.6% is above the national average. SEIFA IRSAD decile 7 signals moderate advantage overall.
Drive
89.3%
Public Transport
3.0%
Walk / Cycle
3.3%
Work from Home
N/A
Population Forecast
+1.26%/yr
(+89 people/yr)
EstablishedPopulation grew 16.2% over the past decade at 1.26% annually, adding 89 people per year. Medium forecasts project 7,436 by 2031, up from 7,079 in 2025. Growth is primarily internal migration (+66/year), not overseas (+18/year), which is unusual for Melbourne suburbs. The gentrification score of 31 flags early signs, with an accelerating growth pattern (from 1% to 22%) over the decade. Rent growth of 50% exceeded income growth of 27.9%, tightening the affordability screw for renters. The senior share rose 4.5 pp, the largest age-shift metric, indicating a suburb that aging families are choosing to stay in rather than leave.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Balanced
Net Overseas / yr
+18
Net Internal / yr
+66
Gentrification Signal
Early signs
Population +22% since 2011, Net internal migration +66/yr, Accelerating: 1% → 22%
Safety & Crime
Total Offences
732
Year ending June 2024
Rate per 1,000 People
87.7
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 Chelsea compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Chelsea a good suburb to live in?
Chelsea scores SEIFA IRSAD decile 7 with both local schools above ICSEA 1075. Crime at 87.7 per 1,000 is above the metro average, driven by property offences (421 of 732 total). The beachside location is a draw, but public transport use at just 3.0% means car dependency is high.
What is the median house price in Chelsea?
The median house price is $1,180,000 as of mid-2024, down 15.7% from the $1,400,000 peak in mid-2023. Over 14 years, prices grew 104.3% from $577,500 at a CAGR of 5.2%. Mortgage repayments average $2,008/month, consuming 27.6% of household income.
What schools are in Chelsea?
Chelsea has 2 primary schools: St Joseph's School (Catholic, ICSEA 1084, 317 students) and Chelsea Primary School (Government, ICSEA 1075, 360 students). Both score well above the national ICSEA benchmark of 1000, placing them in roughly the top 25% nationally.
Is Chelsea safe?
Chelsea recorded 732 total crimes, or 87.7 per 1,000 residents, above the Melbourne metro average. Property and deception offences (421) dominate, followed by crimes against the person (133) and justice procedure offences (111). Drug offences accounted for 33 incidents.
Is Chelsea good for property investment?
Gross rental yield is approximately 1.7% ($375/week on $1.18M), below most Melbourne submarkets. Vacancy at 7.8% is elevated, and the 15.7% price correction signals short-term capital risk. However, 14-year CAGR of 5.2% and positive net internal migration (+66/year) support longer-term growth.
How is Chelsea's population changing?
Population grew 16.2% over the past decade, adding 89 people per year. Growth is primarily from internal migration (+66/year), not overseas (+18/year). The gentrification score of 31 flags early-stage transition, with the senior share increasing 4.5 pp over 10 years.
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 Chelsea on the Map
View parcels, zoning overlays, DA applications, schools and more.
Open Interactive Map