Confident because rents have grown +48.24% over the past decade while unit prices held flat, lifting gross yield to 4.03%, up from 2.7% ten years ago. That's tied to a deep renter base: 44.9% of local households rent (2021 Census).
Rental Demand
Confident because vacancy sits at 1.86% (inside the 1–3.5% balanced range) and rent search interest scores a top 10/10 against neighbouring markets. Demand is tied to a large professional, health and education workforce, plus population growth of 1.3% in 2025, led by overseas migration.
Why This Suits You
Stonnington units suit investors after a blue-chip location at a sub-$1M price, because:
Affordable entry point: a typical unit costs $919K, under the $1M mark, in one of Melbourne's most established inner-south council areas
Conservative, SMSF-friendly profile: IRSAD sits in the top decile (10/10), economic diversity scores 76, and bushfire safety is 100
Stable local employment: unemployment is 3.4%, below Victoria's, with health and education alone making up 22% of local jobs
Trade-offs
Unit prices have been flat: +0.09% over 10 years and -5.26% over 3, running -16.5% below the area's own long-run trend (GPD). The main driver is supply: units make up a big share of the stock (unit-to-house ratio 68%), and 709 of 807 dwellings approved last year were apartments or townhouses. One dynamic, two effects: prices stay flat across the market, and the building you pick matters more, so favour smaller, owner-occupier-style blocks over investor-heavy towers.
All four charts sourced directly from the City of Stonnington's public economy.id / forecast.id / profile.id profiles (informed decisions).
Market & insurance risk
Higher = more favourable
EDI
76
Variety of industries & employment sources locally
MADI
100
Low reliance on volatile resource sectors
Bushfire Safety
100
Based on vegetation, topography & history
Flood Safety
68
Based on topography, watercourses & history
Demand profile: bedrooms × property type
3 Bed
4 Bed
2 Bed
5 Bed
1 Bed
3-bed dwellings lead buyer & renter search activity, with 4-beds close behind and 2-beds a clear third
Market trends
Historical data only
Headline values: $919K to buy, $713pw to rent, and a 4.03% gross yield. Over the past decade, prices have moved just +0.09% while rents rose +48.24%. Rents outpacing prices is why yield has been climbing.
1 Month
0.15%
1 Quarter
0.18%
1 Year
-0.72%
3 Year
-5.26%
5 Year
-5.18%
7 Year
-2.78%
10 Year
0.09%
Buy
$919K↓ -0.72%
Rent
$713pw↑ +6.55%
Yield
4.03%↑ +7.48%
Growth Rate Cycle
GRC Index: 177
GRC Index
177
+ve minus -ve growth months
GRC Minima
-2.90%
Depth of worst slowdown
GPD
-16.5%
Growth vs area's own long-run trend (avg 3–10yr)
GSP
-9%
Growth vs surrounding areas (avg 3–10yr)
Supply
~91 new listings/month
New stock on market
0.20%
Inventory
1.79 mo
Building approvals
1.43%· 643
Hold period
8.82 yrs
Demand
Typical sale takes 30 days
Days on market
30 days· 3.39% discount
Vacancy rate
1.86%
Buy & rent search index
9.0 Buy|10.0 Rent
Clearance rate
65.94%· 46 auctions
Fundamentals
Underlying market quality
A sales ratio of 4.1% and rental ratio of 8%, with local schools ranked 68/100 and $4,824 of infrastructure spend per capita. These are the underlying quality signals behind the headline numbers above.
Affordability index: years of income to buy
25.4 yrs
Market stability
Sales ratio
4.1%
Annual sales, % of dwellings
Rental ratio
8%
Annual rentals, % of dwellings
School rank
68/100
Catchment school quality
RO ratio
46%
Owner-occupier vs investor
Infra. spending
$4,824
Active infrastructure pipeline, per capita
IRSAD
10
Socio-economic advantage index
Public housing
2.8%
Share of dwellings
Unit-to-house ratio
68.00%
Market depth
UH value ratio
38%
Typical unit vs house values
Major projects
HtAG Projects · as at 1 October 2026
ⓘ Covers all projects recorded in Stonnington since 2020: completed, active and proposed
Project pipeline at a glance
Total projects
23
Total stated value across the 22 projects with a published cost
$695.6M
Completed
11
Active (approved / under construction)
12
Proposed
0
Projects by type
Type
Projects
Commercial
14
Transport
4
School
4
Health
1
Top 10 projects by stated value
1.Goldfields House, 627 Chapel Street
Completed redevelopment on Chapel Street in South Yarra, the largest stated-value project in the council since 2020.
Value: $115.7MLocation: South Yarra
Completed
2.One Toorak Place
Approved development at One Toorak Place in Toorak.
Value: $80MLocation: Toorak
Approved
3.Office building, Dandenong Road
Approved office development on Dandenong Road in Malvern East.
Value: $73.4MLocation: Malvern East
Approved
4.10 River Street
Completed development at 10 River Street, South Yarra.
Value: $48.5MLocation: South Yarra
Completed
5.Office building, Malvern Road
Approved office development on Malvern Road in Toorak.
Value: $43.2MLocation: Toorak
Approved
6.Office building, Toorak Road
Approved office development on Toorak Road in South Yarra.
Value: $37.4MLocation: South Yarra
Approved
7.Office building, Chapel Street
Approved office development on Chapel Street in Prahran.
Value: $37.2MLocation: Prahran
Approved
8.The Victoria Clinic Vertical Extension
Completed vertical extension of The Victoria Clinic in Prahran.
Value: $31.6MLocation: Prahran
Completed
9.Office building, Toorak Road
Approved office development on Toorak Road in South Yarra.
Value: $31.5MLocation: South Yarra
Approved
10.Office building, Toorak Road
Completed office development on Toorak Road in Toorak.
Value: $30MLocation: Toorak
Completed
Sourced from HtAG Projects (as at 1 October 2026), which compiles council, state government and ABS building-approval records. "Approved" means the project has building approval but may not have started construction. Projects shared across several councils (e.g. Next Generation Rapid Transport for Melbourne's Southeast, across 4 councils) are excluded from the top 10 because no Stonnington-specific cost is published. Confirm current status before relying on this for a purchase decision.
What these numbers mean
Plain-English definitions
Economic profile
Gross Regional Product (GRP)
The total value of all goods and services produced within the LGA in a year. It's the local equivalent of GDP and measures the strength and size of the area's economy.
Population (forecast)
The forecast resident population for the area each year (ending 30 June), prepared by .id from historical growth, planned housing and migration patterns.
Unemployment Rate
The share of the local labour force actively looking for work but not currently employed, measured quarterly.
Industry Sector of Employment
The percentage of employed local residents working in each industry. It shows what the area's economy runs on and how reliant it is on any one sector.
Scores & risk
EDI
Economic Diversity Index: how many different industries employ people locally. Higher = less exposed to a downturn at a single employer or sector.
MADI
Mining & Agriculture Dominance Index: how reliant the local economy is on volatile resource sectors. Higher = less reliant and more stable.
Bushfire / Flood Safety
A safety score from 0–100 based on vegetation, topography, watercourses and historical incidents. Higher = safer.
IRSAD
ABS Index of Relative Socio-economic Advantage and Disadvantage: a decile (1–10) measuring the area's socio-economic profile. Higher = more advantaged.
Market trends
Typical price / Yield
Typical price is recalculated every month for the current month and all previous months. Yield is the resulting gross rental yield.
Growth Rate Cycle (GRC)
Tracks the speed of price growth, not price itself. A rising curve means growth is accelerating; a falling curve means it's cooling.
GRC Index
The area's current position in its growth cycle, calculated as the number of months with positive growth minus the number of months with negative growth.
GRC Minima
The lowest cyclical growth-rate point the area has recorded, i.e. the depth of its worst slowdown.
GPD (Growth Pattern Deviation)
How current growth compares with the area's own long-run trend, averaged across 3- to 10-year windows. Negative = growing slower than its own history.
GSP (Growth Spillover Potential)
How the area's growth compares with the surrounding areas, averaged across 3- to 10-year windows. Negative = it has lagged its neighbours.
Supply & demand
Stock on Market (SoM)
New listings as a % of total dwellings. Below ~0.4% is considered low supply, i.e. a tight market.
Inventory
Months it would take to sell all current listings at the trailing 12-month sales pace. Under ~3 months = undersupplied and seller-favoured.
Building Approvals
New dwelling approvals over the past year as a % of total dwellings. It's a leading indicator of future supply, since approvals typically become dwellings in 2–3 years.
Hold Period
The average length of time owners keep a property before selling. Over ~7 years (a full property cycle) = tightly held.
Days on Market (DOM) & Discount
The typical time a property takes to sell, plus how much below the asking price vendors are accepting. Under ~35 days = high demand; a larger discount = more buyer bargaining power.
Vacancy Rate
The share of rental listings advertised for 21+ days, measured quarterly. Between 1% and 3.5% = balanced demand; under 1% = very tight.
Search Index (Buy & Rent)
Online search interest indexed 1–10 against the wider area, population-adjusted. It shows demand share compared with neighbouring markets, not absolute volume.
Clearance Rate
The share of scheduled auctions that sell. Above ~70% = high demand; below ~60% favours buyers. Auctions are common in Stonnington, so it's a meaningful signal here.
Fundamentals & projects
Affordability Index
Years of median household income required to buy the typical property outright.
Sales / Rental Ratio
Annual sales (or rentals) as a % of total dwellings, i.e. how much of the area turns over each year.
School Rank
Catchment school quality, scored out of 100 based on academic performance data.
RO Ratio
The balance of owner-occupiers to investors in the area.
Infra. Spending
Non-residential building approval value per adult resident, a proxy for how much infrastructure investment is flowing into the area.
Unit-to-House / UH Value Ratio
How much of the housing stock is units vs houses, and how unit prices compare with house prices in the same area.
Public Housing
The share of dwellings in the area that are government-owned social housing.
Stated Project Value
The published cost of a project. Some projects have no published cost, or share one cost across several councils, so they aren't counted in the total.
Definitions simplified for client readability. See HtAG's own data dictionary for full technical methodology.
Important: Market and project data sourced from HtAG Analytics. Economic data from economy.id, forecast.id and profile.id (informed decisions).
Figures shown are indicative and general in nature only, and do not constitute personal financial, investment, or legal advice. Past performance is not a reliable indicator of future results. You should seek independent professional advice before making any investment decision. Mindset Property Pty Ltd, ACN 664 657 247.
