Malvern
At $3,215,000 median house price and IRSAD decile 10, Malvern stands among Melbourne's most expensive residential addresses, yet a 13.7% vacancy rate and 27.6% renter share reveal a market where wealth concentrates in ownership while the rental segment shows oversupply. University qualifications at 65.3% are 35.2 points above national, the highest in this batch, with Professional/Tech (19.6%) and Healthcare (18.8%) driving a knowledge-economy core. The crime rate of 60.5 per 1,000 is elevated, but property and deception offences (509 of 601 total) account for 85% of incidents, consistent with a high-value suburb targeted for property crime. Judaism (720 adherents) ranks as the second-largest religion after Christianity.
Population
9,929
Median Age
44.0
Household IncomeiMedian weekly household income (ABS Census)
$2,606/wk
DAs (12 months)iDevelopment Applications lodged in the past year
154
Median House
$3.2M
Apr-Jun 2024
The $3,215,000 median reflects a 12-year CAGR of 6.3% from $1,508,500, the strongest long-run appreciation in this batch. The dwelling mix offers genuine choice: 45.9% detached houses, 30.9% apartments and 19.5% semi-detached. Bedroom distribution is similarly balanced, with two-bedroom (31.7%), three-bedroom (30.5%) and four-bedroom (28.3%) roughly equal. Mortgage-to-income at 27.1% is below the stress threshold despite the high absolute prices, because household incomes at the 93.7th percentile ($2,606/week) provide the servicing capacity. All 3 schools exceed ICSEA 1,130: Malvern Central (1,163), St Joseph's (1,156) and De La Salle (1,131).
For Buyers
The $3,215,000 median reflects a 12-year CAGR of 6.3% from $1,508,500, the strongest long-run appreciation in this batch. The dwelling mix offers genuine choice: 45.9% detached houses, 30.9% apartments and 19.5% semi-detached. Bedroom distribution is similarly balanced, with two-bedroom (31.7%), three-bedroom (30.5%) and four-bedroom (28.3%) roughly equal. Mortgage-to-income at 27.1% is below the stress threshold despite the high absolute prices, because household incomes at the 93.7th percentile ($2,606/week) provide the servicing capacity. All 3 schools exceed ICSEA 1,130: Malvern Central (1,163), St Joseph's (1,156) and De La Salle (1,131).
For Investors
Renters at 27.6% sit near the national average, but the 13.7% vacancy rate is alarmingly high and likely the central investment risk. Median weekly rent of $450 against a $3,215,000 median produces a gross yield of just 0.7%, one of the lowest possible. This is purely a capital-growth market: the 6.3% CAGR over 12 years from $1,508,500 is the return mechanism. Development activity is strong with 137 DAs in 12 months, indicating ongoing redevelopment and densification pressures. The gentrification score of 35 with early signs may seem counterintuitive for an already premium suburb, but likely reflects apartment infill changing the resident mix.
Development Activity
Total DAs
162
Last 12 Months
154
YoY ChangeiYear-over-year change in DA lodgements
+2980.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Malvern iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Malvern Central School
Prep-6 · 529 students
St Joseph's School
Prep-6 · 183 students
De La Salle College
6-12 · 890 students
Demographics
University qualifications at 65.3% are the highest in this batch, 35.2 points above the national average, consistent with the IEO decile 10 rating. The median age of 44 sits 4 years above national. English ancestry leads (3,636), with Irish (1,353), Scottish (1,227) and Chinese (633) following. Only 24.7% were born overseas (3.1 points above national), a relatively low share for such a cosmopolitan suburb. Judaism (720) ranks as a significant religious group, well above typical Melbourne suburban levels. Average household size of 2.3 is below national, and couples with children (2,910) outnumber couples without (2,196). Greek (152) and Mandarin (118) lead non-English languages.
Age Distribution
Bedrooms
Dwelling Structure
45.9%
Houses
19.5%
Townhouse
30.9%
Apartment
Tenure
Ownership is strong: 43.2% own outright and 29.2% carry mortgages, with renters at 27.6%. The dwelling mix spans 45.9% houses, 30.9% apartments and 19.5% semi-detached, with bedroom sizes roughly balanced across two, three and four bedrooms. The median peaked at $3,123,500 in 2024, up from $1,508,500 in 2013, a 107.1% total gain. Monthly mortgage repayments of $3,057 produce a price-to-income ratio of roughly 23.7 times annual household income, extreme but absorbed by the 93.7th percentile incomes. Mortgage-to-income at 27.1% stays below stress, while rent-to-income at 17.3% is very comfortable.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$3,057
Rent / wk
$450
HH Size
2.3
Personal Income / wk
$1,326
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
13.7%
Unoccupied
636
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
17.3%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
27.1%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
29.4%
Couples, no children
7,470
Total families
Economy & Employment
Professional/Tech (19.6%, 793 workers) narrowly leads Healthcare (18.8%, 761), followed by Finance (10.3%, 417), Education (9.3%, 376) and Retail (7.0%, 282). This top-heavy knowledge-economy distribution explains the IEO decile 10 reading. Professionals (2,098) and Managers (1,128) together make up over 60% of the workforce. The unemployment rate of 4.0% is below national, and the participation rate of 60.0% is reasonable for a suburb with an older median age. The IER decile 8 reflects strong accumulated wealth, while the IRSD decile 10 confirms the lowest level of disadvantage nationally.
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
64.9%
Part-time
31.1%
Participation
60.0%
Employed
4,865
Occupations
Top Industries
University
65.3%
Postgraduate
18.6%
Born Overseas
24.7%
Dwellings
4,000
Transport to Work
Car driving at 76.5% is lower than most suburban areas, with public transport at 8.1% and walking/cycling at 11.5% providing alternatives. All 3 schools are elite: Malvern Central (ICSEA 1,163, 529 students), St Joseph's (1,156, 183) and De La Salle College (1,131, 890). Crime at 60.5 per 1,000 appears elevated, but 85% (509 of 601) are property offences, a pattern typical of high-value suburbs targeted for theft. The IRSAD decile 10 and IRSD decile 10 confirm the highest possible socio-economic advantage. Volunteering at 20.5% is high, indicating strong community participation.
Drive
76.5%
Public Transport
8.1%
Walk / Cycle
11.5%
Work from Home
N/A
Safety & Crime
Total Offences
601
Year ending June 2024
Rate per 1,000 People
60.5
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 Malvern compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Malvern a good suburb to live in?
Malvern ranks among Melbourne's most advantaged: IRSAD decile 10, 65.3% university qualifications, 3 schools above ICSEA 1,130, and manageable mortgage stress (27.1%). The $3,215,000 median limits access, but walking/cycling (11.5%) and public transport (8.1%) provide good alternatives to driving.
What is the median house price in Malvern?
The median is $3,215,000, with prices rising from $1,508,500 in 2013 to $3,123,500 in 2024, a 107.1% gain (CAGR 6.3%). Monthly mortgage repayments of $3,057 produce a mortgage-to-income ratio of 27.1%, manageable given household incomes at the 93.7th percentile. Median weekly rent is $450.
What schools are in Malvern?
Malvern has 3 schools, all elite. Malvern Central School (ICSEA 1,163, 529 students, government) leads, followed by St Joseph's (1,156, 183, Catholic) and De La Salle College (1,131, 890, Catholic combined). All exceed the national benchmark by at least 131 points.
Is Malvern safe?
Malvern's crime rate of 60.5 per 1,000 is numerically high, but 85% (509 of 601 offences) are property and deception offences, consistent with high-value suburbs targeted for theft. Crimes against the person total just 54. The IRSD decile 10 confirms the lowest level of relative disadvantage nationally.
Is Malvern good for property investment?
Malvern is a pure capital-growth play. Gross yield is just 0.7% ($450/week on $3,215,000), but 12-year CAGR of 6.3% is the strongest in this batch. The 13.7% vacancy rate is a concern. Development is active with 137 DAs in 12 months. The 43.2% outright ownership share limits turnover-driven supply.
How is Malvern's population changing?
Malvern is a stable, established suburb with moderate mobility (23.8% turnover). The 137 DAs in 12 months suggest ongoing infill development. The median age of 44 is 4 years above national. With 65.3% university qualifications (35.2 points above average) and IRSAD decile 10, the socio-economic profile is entrenched at the top.
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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