Neerim South
At a median age of 47, Neerim South's resident base is 7 years older than the national figure, a gap that shapes nearly every aspect of the suburb. Spread across 63.78 square kilometres with only 1,599 residents, population density is 25.1 per square kilometre, far below state and national urban averages. The median house price reached $680,000 in April-June 2024, double the $340,000 recorded in 2013, reflecting a long-run CAGR of 5.1% over 14 years. Household income sits at the 35th percentile nationally, below average, yet housing stress is absent: mortgage-to-income at 26.3% and rent-to-income at 19.1% are both below standard stress thresholds.
Population
1,599
Median Age
47.0
Household IncomeiMedian weekly household income (ABS Census)
$1,359/wk
DAs (12 months)iDevelopment Applications lodged in the past year
4
Median House
$680K
Apr-Jun 2024
The median house price in April-June 2024 was $680,000, up from $555,000 in October-December 2023, a sharp three-quarter rise. Prices peaked at $815,000 in April-June 2023, meaning the current figure is 16.6% below that peak, offering buyers a re-entry point compared to the top of the cycle. The housing stock is overwhelmingly separate houses at 96.1%, with apartments at just 2.1%. Four-plus bedroom dwellings dominate at 44.4%, followed by three-bedroom at 39.3%, suiting families seeking space. Monthly mortgage repayments average $1,549, and the mortgage-to-income ratio of 26.3% is below the 30% stress threshold, making Neerim South more affordable to service than many metropolitan markets despite a six-figure median.
For Buyers
The median house price in April-June 2024 was $680,000, up from $555,000 in October-December 2023, a sharp three-quarter rise. Prices peaked at $815,000 in April-June 2023, meaning the current figure is 16.6% below that peak, offering buyers a re-entry point compared to the top of the cycle. The housing stock is overwhelmingly separate houses at 96.1%, with apartments at just 2.1%. Four-plus bedroom dwellings dominate at 44.4%, followed by three-bedroom at 39.3%, suiting families seeking space. Monthly mortgage repayments average $1,549, and the mortgage-to-income ratio of 26.3% is below the 30% stress threshold, making Neerim South more affordable to service than many metropolitan markets despite a six-figure median.
For Investors
Rental demand in Neerim South is thin: only 11.9% of dwellings are rented, well below state and national averages, and weekly rent sits at $260. Against the $680,000 median house price, that implies a gross yield near 2.0%, below typical investor thresholds. The vacancy rate of 10.0% is high, signalling more available properties than active tenants in the rental pool. Development activity is minimal at 4 applications in the past 12 months, all subdivision permits rather than new dwellings, so no supply surge is anticipated. With 80.8% of residents having lived in the same address five years prior, the suburb has low churn. Investors focused on yield rather than capital growth would find better options elsewhere, but the long-run CAGR of 5.1% over 14 years shows steady appreciation.
Development Activity
Total DAs
14
Last 12 Months
4
YoY ChangeiYear-over-year change in DA lodgements
0.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Neerim South iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Neerim South Primary School
Prep-6 · 148 students
Neerim District Secondary College
7-12 · 223 students
Demographics
The median age of 47 is 7 years above the national average, placing Neerim South firmly among the older segments of regional Victoria. Overseas-born residents make up just 11.3% of the population, which is 10.3 percentage points below the national figure, reflecting the strongly local-born character of the community. Ancestry is Anglo-Celtic, led by English (699 residents), Irish (217) and Scottish (195). University qualifications are held by 20.0% of residents, 10.1 percentage points below the national rate, consistent with the trade and agriculture-oriented local economy. Average household size is 2.5, matching the national figure. A volunteering rate of 23.2% is notably high, suggesting strong civic participation relative to urban benchmarks.
Age Distribution
Bedrooms
Dwelling Structure
96.1%
Houses
1.8%
Townhouse
2.1%
Apartment
Tenure
Tenure is unusually tilted toward outright ownership: 48.5% own their home outright, compared to the national average near 30%, because the older resident base has had decades to pay down mortgages. Mortgage holders account for 39.6% and renters just 11.9%. The long-run price record shows median house prices rising from $340,000 in 2013 to $680,000 in April-June 2024, a 100.0% gain over 14 years. The peak was $815,000 in April-June 2023, and the current price is 16.6% below that high. Separate houses represent 96.1% of stock, apartments only 2.1%, so the market is almost entirely detached. Four-plus bedroom dwellings make up 44.4%, the largest category, consistent with the rural block sizes typical of a 63.78 square kilometre suburb.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,549
Rent / wk
$260
HH Size
2.5
Personal Income / wk
$678
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
10.0%
Unoccupied
62
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
19.1%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
26.3%
Community Profile
Ancestry
Household Composition
34.2%
Couples, no children
1,247
Total families
Economy & Employment
Healthcare is the largest employing industry at 16.2% of workers (73 people), followed closely by Education at 14.4% (65 people) and Construction at 11.5% (52 people). Agriculture employs 8.6% (39 people), above the national share for an area of this character. By occupation, Managers lead at 122 workers, then Professionals at 107 and Clerical/Admin at 87, with Labourers at 82. The unemployment rate is 5.1% and the participation rate is 50.5%, lower than national, because 495 residents are not in the labour force, a figure consistent with the above-average older demographic. Full-time employment accounts for 59.7% of employed workers. Household income at the 35th national percentile reflects the rural and service-sector employment mix rather than high-paying professional roles.
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
59.7%
Part-time
35.2%
Participation
50.5%
Employed
631
Occupations
Top Industries
University
20.0%
Postgraduate
3.7%
Born Overseas
11.3%
Dwellings
564
Transport to Work
Car dependency is extreme: 89.4% of residents drive to work, compared to the national average, while only 0.6% use public transport, reflecting the rural setting and limited transit infrastructure. Walking and cycling account for 5.2% of commutes, likely short local trips. The crime rate of 70.0 incidents per 1,000 residents covers 112 recorded offences, with property and deception offences (34) and crimes against the person (31) the leading categories. No schools are recorded within the suburb boundary in available data. The suburb's rural character, with housing stress absent at both mortgage (26.3%) and rental (19.1%) levels, suits established residents and owner-occupiers. The 6.3% rate of residents needing daily assistance (92 people) is consistent with the older median age of 47.
Drive
89.4%
Public Transport
0.6%
Walk / Cycle
5.2%
Work from Home
N/A
Safety & Crime
Total Offences
112
Year ending June 2024
Rate per 1,000 People
70.0
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 Neerim South compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Neerim South a good suburb to live in?
Neerim South suits established owner-occupiers seeking a quiet rural lifestyle. Housing stress is low: mortgage-to-income is 26.3% and rent-to-income is 19.1%, both below stress thresholds. The suburb's 63.78 square kilometre spread and density of just 25.1 residents per square kilometre suit those who value space. The main trade-offs are minimal public transport (0.6% usage) and no schools recorded locally.
What is the median house price in Neerim South?
The median house price was $680,000 in April-June 2024, down 16.6% from the $815,000 peak in April-June 2023. Long-run prices have doubled from $340,000 in 2013, a CAGR of 5.1% over 14 years. Weekly rent is $260 and monthly mortgage repayments average $1,549.
What schools are in Neerim South?
No schools are recorded within the Neerim South boundary in available data. Families rely on schools in surrounding towns. The suburb has a median age of 47 and a household composition skewed toward couples, with 34.2% of families being couples without children, so school demand may be lower than in younger suburban areas.
Is Neerim South safe?
Neerim South recorded 112 total offences, giving a crime rate of 70.0 per 1,000 residents. Property and deception offences account for 34 incidents and crimes against the person 31 incidents. As a small rural suburb with 1,599 residents spread across 63.78 square kilometres, absolute offence counts are low compared to urban areas.
Is Neerim South good for property investment?
The investment case is mixed. Weekly rent of $260 against a $680,000 median implies a gross yield near 2.0%, below typical investor targets. The vacancy rate of 10.0% is high, and only 11.9% of dwellings are rented, limiting the tenant pool. On the capital growth side, the 14-year CAGR is 5.1%, and prices rose from $555,000 to $680,000 across three quarters of 2024.
How is Neerim South's population changing?
Neerim South has a population of 1,599 across 63.78 square kilometres. The median age of 47 is 7 years above the national average and the identity signals point to an aging resident base. With 80.8% of residents having stayed at the same address for 5 years, turnover is low at 19.2%, suggesting stable but slowly ageing demographics rather than active growth.
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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