Forest Hill Property Market Overview (2026)
Forest Hill sits in the affordable outer-suburban market. This is value territory. Prices are lower than inner Melbourne because the suburb is still developing its amenity base, but growth corridors tend to appreciate as infrastructure catches up.
Price Estimates
| Property Type | Estimated Median | Monthly Mortgage (est.)* |
|---|---|---|
| House | $550K–$850K | $2,200–$3,400 |
| Unit/Apartment | $350K–$500K | $2,000–$3,000 |
Estimates based on Forest Hill’s market positioning. Mortgage estimates assume 20% deposit, 6.5% variable rate, 30-year term. For current sales data, check REIV or Domain.
What Drives Property Value in Forest Hill
Property prices in any suburb reflect three things: what is already there, what is coming, and how easy it is to get to the CBD. Here is how Forest Hill stacks up:
| Amenity Factor | Forest Hill | Impact on Value |
|---|---|---|
| Schools | 8 | Strong — school zones drive family demand |
| Parks | 11 | High — green space is a premium driver |
| Dining & Cafes | 3 | Developing |
| Medical | 6 | Strong — healthcare proximity matters |
| Supermarkets | 0 | None — drives value down |
| Gyms & Fitness | 1 | Some options |
Total amenity score: 39. Growing infrastructure — early buyers may benefit from appreciation as the suburb develops.
Schools (Key Value Driver)
Forest Hill has 8 schools — school zone boundaries are one of the strongest price drivers in Melbourne property:
| School | Address |
|---|---|
| Vermont South Special School | 22-30 Livingstone Road |
| Forest Hill College | 178-198 Mahoneys Road |
| Emmaus College | 487-503 Springvale Road |
| Livingstone Primary School | 25-29 Livingstone Road |
| Mount Pleasant Road Primary School | 105-107 Mount Pleasant Road, Nunawading |
| St Timothy’s Primary School | 17-23 Stevens Road |
| Parkmore Primary School | 38-54 Jolimont Road |
| Burwood Heights Primary School | 174 Mahoneys Road |
Check zone boundaries at findmyschool.vic.gov.au.
Rental Market
| Unit Type | Weekly Rent (est.) |
|---|---|
| 1 Bedroom | $260–$360 |
| 2 Bedroom | $350–$450 |
| 3 Bedroom | $450–$600 |
Rental yield estimate: 4.5–5.5% (higher yields in more affordable suburbs).
See our detailed Cost of Living Guide for full cost breakdown.
Before You Buy in Forest Hill
- Check school zones — findmyschool.vic.gov.au determines your designated school
- Review planning overlays — heritage, flood, bushfire at your local council
- Check flood risk — planning.vic.gov.au
- Attend auctions — quoted ranges in Forest Hill are guides, not guarantees
- Get a building inspection — non-negotiable for any house purchase
- Talk to locals — knock on a neighbour’s door. They will tell you what agents won’t
Key Links for Forest Hill Property Research
- Domain — current listings and recent sales
- realestate.com.au — price history and suburb profiles
- REIV — quarterly median prices (the official data)
- ABS Census — population and demographic data
Related Guides
- Best Restaurants in Forest Hill
- Best Cafes in Forest Hill
- Best Bars in Forest Hill
- Cost of Living in Forest Hill
- Forest Hill Neighbourhood Guide
- Family Guide to Forest Hill
- Is Forest Hill Safe?
- Forest Hill Transport Guide
Last updated: March 2026. This guide is refreshed when OpenStreetMap data changes — new openings, closures and corrections are reflected automatically. Found something wrong? Let us know.
Sources
- OpenStreetMap Contributors — openstreetmap.org — accessed March 2026
- ABS Census 2021 — abs.gov.au/census
- REIV Quarterly Median Prices — reiv.com.au
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