Skye
Skye's house prices doubled over 14 years, climbing 102.5% from $395,000 in 2013 to $800,000 in mid-2024 (5.2% CAGR), making it one of Melbourne's south-east growth stories. Nearly 6 in 10 households (58.2%) carry a mortgage, well above the national average, while only 24.0% own outright. Despite this, mortgage stress sits at just 20.0% of income, among the lowest in the Casey-Frankston corridor. The SEIFA economic resources decile of 9 (IER 1,082) ranks it higher on wealth than education (IEO decile 6), suggesting residents earn well through trades and blue-collar work rather than tertiary credentials.
Population
8,088
Median Age
36.0
Household IncomeiMedian weekly household income (ABS Census)
$2,004/wk
DAs (12 months)iDevelopment Applications lodged in the past year
15
Median House
$800K
Apr-Jun 2024
At $800,000 (Apr-Jun 2024), Skye sits at a new price peak after rising from $747,800 (Oct-Dec 2023) and $753,300 (Jan-Mar 2024), showing consistent quarterly momentum. The stock is 89.3% detached houses, with 4+ bedroom homes dominant at 49.0%, ideal for growing families. Monthly mortgage repayments of $1,733 at 20.0% of income make it one of the most comfortable mortgage-belt suburbs in Melbourne's south-east. Car dependency is total: 91.2% drive and just 1.1% use public transport. Skye Primary School (ICSEA 995, 515 students) is close to the national benchmark, serving the suburb's young families (median age 36, 4 years below national).
For Buyers
At $800,000 (Apr-Jun 2024), Skye sits at a new price peak after rising from $747,800 (Oct-Dec 2023) and $753,300 (Jan-Mar 2024), showing consistent quarterly momentum. The stock is 89.3% detached houses, with 4+ bedroom homes dominant at 49.0%, ideal for growing families. Monthly mortgage repayments of $1,733 at 20.0% of income make it one of the most comfortable mortgage-belt suburbs in Melbourne's south-east. Car dependency is total: 91.2% drive and just 1.1% use public transport. Skye Primary School (ICSEA 995, 515 students) is close to the national benchmark, serving the suburb's young families (median age 36, 4 years below national).
For Investors
Only 17.9% of residents rent, and the 2.5% vacancy rate is tight, creating a landlord-friendly environment. Weekly rent of $410 against $800,000 gives a gross yield of roughly 2.7%. Development activity is active at 13 DAs in 12 months, including 8-dwelling multi-storey projects and 6-8 lot subdivisions, signalling densification. The SEIFA IRSD decile of 8 indicates low disadvantage. Prices have risen steadily without correction (102.5% over 14 years), so investor capital is relatively protected. The young median age (36) and family formation stage support long-term demand for 3-4 bedroom rental houses in the area.
Development Activity
Total DAs
20
Last 12 Months
15
YoY ChangeiYear-over-year change in DA lodgements
+400.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Skye iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Skye Primary School
Prep-6 · 515 students
Demographics
Skye's median age of 36 is 4 years younger than nationally, and university education at 22.5% sits 7.6 points below the national rate, reflecting a trades-oriented community. English ancestry dominates (3,100), followed by Scottish (758), Irish (727), and a notable Italian community (366). Households average 2.9 persons (0.4 above national), and only 18.6% of families are couples without children, both indicators of a strongly family-oriented population. The SEIFA IER decile of 9 alongside IEO decile 6 creates an unusual profile: high economic resources without matching educational attainment, suggesting well-paid blue-collar and trades occupations drive wealth.
Age Distribution
Bedrooms
Dwelling Structure
89.3%
Houses
10.7%
Townhouse
N/A
Apartment
Tenure
From $395,000 in 2013 to $800,000 in Apr-Jun 2024, prices grew 102.5% (5.2% CAGR over 14 years). The current price equals the all-time peak. Mortgage holders at 58.2% are the dominant tenure, higher than most Melbourne suburbs, while outright owners at 24.0% and renters at 17.9% trail. The stock is 89.3% separate houses with 10.7% semi-detached and near-zero apartments. Nearly half (49.0%) of all dwellings have 4+ bedrooms, reflecting the large-lot suburban character. Mortgage stress at 20.0% and rent stress at 20.5% are both comfortable, supported by the 75th percentile household income.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,733
Rent / wk
$410
HH Size
2.9
Personal Income / wk
$844
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
2.5%
Unoccupied
69
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
20.5%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
20.0%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
18.6%
Couples, no children
7,057
Total families
Economy & Employment
Healthcare leads at 19.6% (517 workers), followed by Construction at 14.9% (392), Education at 11.0% (289), Manufacturing at 9.9% (262), and Retail at 8.5% (225). The construction share is notably higher than the national average, consistent with the suburb's trades-heavy profile. Clerical/Admin (593) edges out Professionals (616) in occupations, while Community/Personal (559), Sales (470), and Labourers (465) fill the middle ranks. Unemployment at 4.8% is slightly above average, and the participation rate of 67.3% is strong. The 64.9% fulltime rate and 1,426 part-time workers suggest a workforce balancing family commitments with earning capacity.
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
64.9%
Part-time
30.3%
Participation
67.3%
Employed
4,063
Occupations
Top Industries
University
22.5%
Postgraduate
4.5%
Born Overseas
22.1%
Dwellings
2,694
Transport to Work
Crime sits at 48.2 per 1,000 residents (390 total offences), above the Croydon North comparison of 21.3 but in line with broader Casey-Frankston benchmarks. Property offences (158) and justice procedure offences (123) are the top categories. Skye Primary School (government, ICSEA 995, 515 students) scores just below the 1,000 national benchmark. Public transport is minimal at 1.1%, with 91.2% driving, so car ownership is essential. The IRSAD decile of 7 places Skye in the top 30% nationally for socioeconomic advantage, while the low 5.5% need-for-assistance rate and low housing stress indicate a comfortable but car-dependent lifestyle.
Drive
91.2%
Public Transport
1.1%
Walk / Cycle
1.1%
Work from Home
N/A
Safety & Crime
Total Offences
390
Year ending June 2024
Rate per 1,000 People
48.2
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 Skye compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Skye a good suburb to live in?
Skye suits families wanting space and affordability in Melbourne's south-east. SEIFA IRSAD decile 7 places it above 60% of Australian suburbs. Mortgage stress at 20.0% is very low, and 49.0% of homes have 4+ bedrooms. The main drawback is car dependency at 91.2% and limited public transport (1.1%).
What is the median house price in Skye?
The median is $800,000 (Apr-Jun 2024), at its all-time peak. Prices have grown 102.5% from $395,000 since 2013, averaging 5.2% CAGR over 14 years. Monthly mortgage repayments of $1,733 are comfortable at 20.0% of household income for the suburb's 75th-percentile earners.
What schools are in Skye?
Skye Primary School is the suburb's sole school: a government primary with 515 students and an ICSEA of 995, marginally below the 1,000 national benchmark. Families needing secondary education look to nearby Carrum Downs and Frankston for options.
Is Skye safe?
The crime rate is 48.2 per 1,000 residents (390 total offences). Property and deception offences account for 158 incidents, and justice procedure offences for 123. This rate is above Melbourne's average but within the typical range for outer south-east suburbs. The 84.2% residential stability rate reflects strong community roots.
Is Skye good for property investment?
The 2.5% vacancy rate is tight, favouring landlords. Gross yield is roughly 2.7% ($410/week on $800,000). Capital growth has been consistent at 5.2% CAGR over 14 years without a single price decline in recent quarters. Active development (13 DAs, including multi-dwelling projects) signals densification, which could bring new competing stock.
How is Skye's population changing?
Skye's population of 8,088 has a young median age of 36, 4 years below the national figure. The 84.2% stability rate shows residents are putting down roots. Seniors share is rising, but the family-dominated mix (only 18.6% childless couples, 49.0% 4+ bedroom homes) suggests the suburb will remain family-oriented for the next decade.
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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