Herne Hill

HERNE HILL, VIC 3218 is a suburb with a total population of 3507 residents. The area has seen steady population growth over recent years across all age groups. The suburb offers a good mix of occupations, with professionals, technicians and trades workers, and community and personal service workers among the top three occupational groups. Residents have access to various commuting options, with a significant number opting for motor vehicles, while a noteworthy portion also works from home. The suburb has a mix of residents across different age groups, with a considerable number falling in the age bracket of 20 to 64 years. The median household income is above average, and the median mortgage repayment and rent are relatively moderate. For houses in HERNE HILL, VIC 3218, the suburb presents a balanced market for both buyers and sellers. The high median growth rate and market absorption rate indicate a growing demand and potential for value appreciation. The low vacancy rate and room demand-to-supply ratio suggest good rental opportunities. The moderate discount median and low days on market further highlight the suburb's attractiveness. On the other hand, for units, the suburb offers a higher rental yield and lower vacancy rate compared to houses, making it potentially lucrative for investors seeking rental income. HERNE HILL, VIC 3218 is a suburb that offers a balanced lifestyle with access to various amenities, good demographic diversity, and convenient commuting options. For property investors, the suburb presents opportunities in both the house and unit segments, with each offering its own set of advantages such as potential capital growth, rental yield, and demand dynamics. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022