LGA · VIC · SOUTH-EAST MELBOURNE BAYSIDE

City of Kingston

Bayside south-east LGA with the $34B SRL East coming through Cheltenham. Roughly 20km from Melbourne CBD.

South-East Melbourne Bayside Hotspotting refresh: Jun 2026 20km from CBD

Investment thesis

What this LGA is for

South-east bayside Melbourne LGA covering Cheltenham, Mentone, Parkdale, Mordialloc, Aspendale, Edithvale, Bonbeach, Carrum, Chelsea, Moorabbin, Clayton South and Patterson Lakes. Gross Regional Product $14.23 billion (2.44% of Victoria). Manufacturing the biggest output sector at $8.086B with food manufacturing the dominant sub-sector. The structural thesis is the $34 billion Suburban Rail Loop East coming through Cheltenham, plus Level Crossing Removal-driven higher-density rezoning at Cheltenham (7-8 storeys) and Mentone (up to 6 storeys), plus the Highett Gasworks integrated masterplan, plus the Kingston Arts Precinct masterplan. Pre-SRL bayside is the play.

Key numbers

Snapshot of the City of Kingston economy and demographics.

Gross Regional Product

$14.23B

Of Victoria's economic output

2.44%

Manufacturing output (largest sector)

$8B

SRL East stage 1 budget

$34B

Infrastructure pipeline

The committed and in-flight infrastructure spend reshaping the LGA.

$34B

Suburban Rail Loop East

Stage 1 (Cheltenham to Box Hill) under construction. Cheltenham becomes a major interchange. 22-minute Cheltenham to Box Hill when complete in 2035.

Major

Cheltenham + Mentone rezoning

Government land created by Level Crossing Removal now flagged for 7-8 storeys at Cheltenham stations and up to 6 at Mentone.

Major

Highett Gasworks masterplan

SRL Authority-led integrated masterplan with Sir William Fry Reserve. Public hearings commenced Aug 2025.

Major

Moorabbin Junction renewal

Multi-storey developments underway near the train station. Creative industries cluster forming.

Major

Kingston Arts Precinct

Regional-significance arts precinct in Moorabbin. Masterplan completed Oct 2025.

Major

Adjacent Monash Health + Education cluster

Just north in Clayton: Monash University, CSIRO, Monash Medical Centre, Monash Children's Hospital, Synchrotron, Nanofabrication Centre.

Suburbs in scope

Suburbs we actively track within City of Kingston. House market data from PropTrack via Hotspotting LGA report (12 months trailing).

Suburb	Median (house)	Yield	1yr growth	Vacancy	Read
Edithvale	$873K	4.10%	+12%	0.40%	Bayside, strongest LGA YoY growth
Aspendale	$870K	4.00%	+19%	0.50%	Bayside, highest YoY growth across the bayside set
Carrum	$860K	3.70%	+9%	0.50%	Bayside village pocket
Parkdale	$770K	3.80%	+2%	0.70%	Bayside, established middle-tier
Patterson Lakes	$742K	4.00%	+17%	0.60%	Canal estate, strong YoY
Moorabbin	$742K	4.20%	-7%	0.80%	Renewal precinct, value entry
Bonbeach	$720K	4.10%	+6%	0.50%	Bayside affordable
Chelsea	$710K	4.10%	+5%	0.60%	Bayside affordable middle-tier
Cheltenham	$700K	4.30%	0%	0.70%	SRL interchange. Most affordable entry on this SRL station.
Mentone	$640K	4.30%	+5%	0.60%	Most affordable bayside entry. SRL station rezoning candidate.
Clayton South	$636K	5.10%	+4%	0.80%	Lowest LGA entry, highest yield. Adjacent to Monash
Mordialloc	$680K	4.10%	0%	0.70%	Established bayside middle-tier

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