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LGA · VIC · SOUTH-EAST MELBOURNE

City of Monash

South-east anchored by Australia's largest university and Victoria's tightest labour market. Roughly 18km from Melbourne CBD.
South-East Melbourne Hotspotting refresh: Jun 2026 18km from CBD

Investment thesis

What this LGA is for
South-east Melbourne LGA covering Clayton, Glen Waverley, Mount Waverley, Mulgrave, Oakleigh, Oakleigh East/South, Wheelers Hill and Notting Hill. Gross Regional Product $22.58 billion (3.47% of Victoria), generating ~$50 billion in annual output (4.9% of Greater Melbourne). Unemployment just 2.3% in the December 2025 quarter, 2.5 percentage points BELOW Greater Melbourne, the tightest labour market in the metro. The structural anchor is the Monash National Employment + Innovation Cluster (NEIC) contributing $9.4 billion to the Victorian economy annually, anchored by Monash University Clayton (30,000 students), CSIRO, ANSTO Synchrotron, the Melbourne Centre for Nanofabrication, the Victorian Heart Hospital and the Monash Medical Trials Centre. SRL East adds 4 stations inside the LGA.

Key numbers

Snapshot of the City of Monash economy and demographics.

Gross Regional Product
$22.58B
Unemployment (Dec 2025 quarter)
2.3%
Annual contribution to VIC economy from Monash NEIC
$9.4B
Students at Monash Clayton
30K

Infrastructure pipeline

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

$34B+
Suburban Rail Loop East
Six new underground stations in SRL East, four of them inside Monash LGA. Materially reshapes transit access to the Monash NEIC.
$9.4B/yr
Monash NEIC contribution
Monash National Employment + Innovation Cluster. Includes Monash University Clayton campus (30,000 students), CSIRO, ANSTO Synchrotron, Melbourne Centre for Nanofabrication, Monash Medical Trials Centre.
$535M
Monash Freeway upgrade
Major arterial capacity expansion.
Major
Victorian Heart Hospital (Clayton)
Recently completed. Major specialist health employer.
$79M
FY2026 Council Capital Works
Inside $238M FY2026 budget.
10K+
New homes target in Clayton + Glen Waverley + Burwood
Long-term housing plans aim to deliver 10,000+ new homes in the SRL station catchments.
Major
John Monash Science School (Clayton)
Victoria's first specialist science school. Year 10-12. Bolsters the family demographic.

Suburbs in scope

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

SuburbMedian (house)Yield1yr growthVacancyRead
Glen Waverley$1.785M2.20%+12%0.30%LGA premium. Strongest YoY house growth + tightest vacancy. SRL East station
Mount Waverley$1.65M2.50%-1%0.40%Premium established. Family demographic, top-100 schools
Wheelers Hill$1.507M2.80%+6%0.50%Premium hillside family pocket
Oakleigh$1.41M2.80%+11%0.60%Strong YoY house growth. Multicultural commercial centre
Clayton$1.31M2.90%+8%0.60%Monash NEIC core. Strongest unit market 273 sales/yr at 5.0% yield
Oakleigh South$1.255M3.30%+8%0.70%Affordable middle-tier
Oakleigh East$1.196M2.80%+7%0.70%Mid-band
Mulgrave$1.14M3.30%+6%0.80%Affordable, established family pocket
Notting Hill$410K (unit)7.40%+5%1.40%Pure unit market. Highest yield in LGA. Student demand from Monash

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