Deepdene
A $3,950,000 median house price in a suburb of just 2,101 residents places Deepdene among Melbourne's most exclusive addresses, and the data explain how it got there. Household income sits at the 84.8th percentile nationally, and 64.4% of residents hold university qualifications, which is 34.3 percentage points above the national figure. The suburb spans only 0.88 square kilometres, with 50.6% of dwellings owned outright, signalling established, debt-free wealth rather than a first-buyer market. A 11.1% vacancy rate is elevated for a prestige suburb, pointing to discretionary holding of investment stock.
Population
2,101
Median Age
46.0
Household IncomeiMedian weekly household income (ABS Census)
$2,243/wk
DAs (12 months)iDevelopment Applications lodged in the past year
23
Median House
$4.0M
Apr-Jun 2024
At $3,950,000, the median house price is at the extreme upper end of the Melbourne market, having climbed from $1,981,000 in 2013, a 99.4% gain over roughly 14 years equivalent to a 5.1% compound annual growth rate. The price sequence over the most recent quarters shows acceleration: from $2,750,000 in Oct-Dec 2023 to $3,143,000 in Jan-Mar 2024, then $3,950,000 in Apr-Jun 2024. Monthly mortgage repayments average $3,000, but mortgage-to-income sits at 30.9%, above the 30% stress threshold, meaning even this high-income suburb is not immune to purchase cost pressure. Dwellings skew large, with 45.5% having four or more bedrooms and only 9.4% apartments, making Deepdene a predominantly detached-house market. Just 27.9% of residents carry a mortgage compared to 50.6% who own outright.
For Buyers
At $3,950,000, the median house price is at the extreme upper end of the Melbourne market, having climbed from $1,981,000 in 2013, a 99.4% gain over roughly 14 years equivalent to a 5.1% compound annual growth rate. The price sequence over the most recent quarters shows acceleration: from $2,750,000 in Oct-Dec 2023 to $3,143,000 in Jan-Mar 2024, then $3,950,000 in Apr-Jun 2024. Monthly mortgage repayments average $3,000, but mortgage-to-income sits at 30.9%, above the 30% stress threshold, meaning even this high-income suburb is not immune to purchase cost pressure. Dwellings skew large, with 45.5% having four or more bedrooms and only 9.4% apartments, making Deepdene a predominantly detached-house market. Just 27.9% of residents carry a mortgage compared to 50.6% who own outright.
For Investors
The rental market in Deepdene is shallow. Only 21.5% of dwellings are rented, well below the national average, and weekly rent averages $501. Against the $3,950,000 median house price, that rent implies a gross yield of roughly 0.7%, one of the lowest in Melbourne. A vacancy rate of 11.1% is high relative to most Victorian suburbs and suggests investor-held stock sitting idle rather than active tenancy. Development activity recorded 21 applications in the past 12 months, including a new dwelling in a Special Building Overlay and commercial planning permits, signalling ongoing but controlled infill. The long-run capital growth story is stronger than the yield story, with prices up 99.4% since 2013 at a 5.1% CAGR, and the suburb's ultra-luxury positioning limits downside risk in downturns.
Development Activity
Total DAs
25
Last 12 Months
23
YoY ChangeiYear-over-year change in DA lodgements
+2200.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Deepdene iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Deepdene Primary School
Prep-6 · 353 students
Our Lady of Good Counsel School
Prep-6 · 144 students
Demographics
The median age of 46 is 6.0 years above the national figure, placing Deepdene firmly in the established-resident, late-career and retiree cohort. University qualifications reach 64.4% of the population, which is 34.3 percentage points higher than the national rate, ranking it among Melbourne's most educated suburbs. Overseas-born residents account for 38.1%, which is 16.5 percentage points above the national figure. The ancestry mix is led by Chinese (592 residents) and English (584), followed by Irish (242) and Scottish (187). Mandarin is the most spoken non-English language at 172 speakers, reflecting the Chinese ancestry concentration. Average household size is 2.6, marginally above the national average. Couples with children (624) outnumber couples without children (460), suggesting the large four-plus bedroom stock is actively family-occupied.
Age Distribution
Bedrooms
Dwelling Structure
66.8%
Houses
23.9%
Townhouse
9.4%
Apartment
Tenure
Tenure tells the story of long-held prestige property: 50.6% of dwellings are owned outright, more than double the 21.5% renting share and well above the mortgage-holder share of 27.9%. That outright-ownership dominance is consistent with the 46-year median resident age and suggests most stock passed through its leveraged phase decades ago. Separate houses make up 66.8% of dwellings, semi-detached 23.9% and apartments just 9.4%. The bedroom profile is large-house oriented, with 45.5% of dwellings at four or more bedrooms and 29.7% at three bedrooms. Rent-to-income sits at 22.3%, below the 30% stress level, while mortgage-to-income at 30.9% edges above it, meaning renters are comfortable but buyers face genuine cost pressure relative even to this suburb's above-median incomes.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$3,000
Rent / wk
$501
HH Size
2.6
Personal Income / wk
$982
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
11.1%
Unoccupied
98
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
22.3%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
30.9% stressed
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
27.4%
Couples, no children
1,679
Total families
Economy & Employment
Healthcare leads the local industry mix at 20.5% of employed residents (147 workers), followed by Professional and Technical Services at 17.0% (122) and Education at 12.7% (91). Finance accounts for 7.1% (51 workers). By occupation, Professionals dominate at 365 workers, Managers follow at 203, Clerical and Admin at 106 and Sales at 84. The full-time employment rate is 57.6%, with 510 residents employed full-time and 376 part-time. The unemployment rate is 4.8%, slightly above typical prestige-suburb benchmarks, with only 45 unemployed. Participation at 51.8% is low, largely because 776 residents are not in the labour force, consistent with a population where the median age of 46 includes a significant early-retirement cohort. Volunteering reaches 18.4%, above average nationally.
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
57.6%
Part-time
37.6%
Participation
51.8%
Employed
886
Occupations
Top Industries
University
64.4%
Postgraduate
20.7%
Born Overseas
38.1%
Dwellings
779
Transport to Work
Transport in Deepdene is overwhelmingly car-dependent: 83.9% of residents drive to work, compared to only 3.2% using public transport and 6.6% who walk or cycle. This is high car reliance even by Melbourne suburban standards. Crime is low in absolute terms, with 65 total incidents recorded and a rate of 30.9 incidents per 1,000 residents; property and deception offences (44) account for the largest share, crimes against the person total 11. No schools are recorded inside the suburb boundary, so families draw on institutions in adjacent Balwyn, Kew and Camberwell. Only 6.7% of residents (137 people) need daily assistance, consistent with a low-disadvantage profile. Rent-to-income at 22.3% is comfortable for tenants. The density of 2,400 residents per square kilometre is moderate, and the 66.8% separate-house rate provides a spacious residential character compared to inner-city Melbourne.
Drive
83.9%
Public Transport
3.2%
Walk / Cycle
6.6%
Work from Home
N/A
Safety & Crime
Total Offences
65
Year ending June 2024
Rate per 1,000 People
30.9
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 Deepdene compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Deepdene a good suburb to live in?
Deepdene suits established, high-income residents seeking a low-density, house-dominated environment. Household income is at the 84.8th percentile nationally, 64.4% of residents hold university qualifications, 50.6% own their home outright, and crime is low at 30.9 incidents per 1,000 people. The main trade-offs are car-dependency (83.9% drive) and no schools within the suburb boundary.
What is the median house price in Deepdene?
The median house price is $3,950,000 as of Apr-Jun 2024, up from $2,750,000 in Oct-Dec 2023. Since 2013 prices have risen 99.4%, equivalent to a 5.1% compound annual growth rate over 14 years. Monthly mortgage repayments average $3,000 and weekly rent averages $501.
What schools are in Deepdene?
No schools are recorded within the Deepdene boundary in this dataset. The suburb is 0.88 square kilometres, so residents typically access schools in neighbouring Balwyn, Kew and Camberwell. Despite the absence of local schools, 64.4% of Deepdene residents hold university qualifications, which is 34.3 percentage points above the national rate.
Is Deepdene safe?
Deepdene recorded 65 total crimes with a rate of 30.9 incidents per 1,000 residents. Property and deception offences were the largest category at 44 incidents. Crimes against the person totalled 11. Only 6.7% of residents (137 people) need daily assistance, consistent with a low-disadvantage community.
Is Deepdene good for property investment?
Deepdene's capital growth case is strong, with prices up 99.4% since 2013 at a 5.1% annual rate. However, the yield case is very weak: weekly rent of $501 against a $3,950,000 median implies a gross yield near 0.7%, well below typical investment benchmarks. A vacancy rate of 11.1% and only 21.5% renters confirm this is a capital-growth rather than income market.
How is Deepdene's population changing?
Deepdene's population of 2,101 is small and relatively stable. Resident turnover is low at 19.0%, with 81.0% of the population staying year to year. The median age of 46 is 6.0 years above the national figure, indicating an aging base. The 0.88 square kilometre footprint limits new supply, so significant population growth is unlikely.
What languages are spoken in Deepdene?
About 38.1% of residents were born overseas, which is 16.5 percentage points above the national rate. Mandarin is the most common non-English language with 172 speakers, followed by Cantonese with 24 and Greek with 16. Chinese ancestry (592 residents) is the largest single ancestry group, slightly ahead of English (584).
How much development is happening in Deepdene?
There were 21 development applications lodged in the past 12 months. Examples include a new dwelling in a Special Building Overlay, commercial planning permits and vegetation removal applications. This level of activity reflects gradual infill in an established suburb of 0.88 square kilometres, rather than large-scale new development.
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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