Suburb Profile – Kew
Sitting at one of the highest points in Melbourne, 6km east of the CBD, is the prestigious suburb of Kew. The epitome of inner-eastern leafy Melbourne, this historic suburb has an aura about it that transforms it into its own little world. To settle in Kew, is to settle into tranquillity.
At the heart of Kew’s prestige is its exceptional examples of Edwardian, Victorian, Italianate and contemporary architecture. While the streets of Kew are filled with some of Melbourne’s biggest and most beautiful homes, there is no doubt that the architectural highlight of the suburb, in terms of abodes, is the grand 19th-century Italianate mansion, Raheen.
Once the residence of the Catholic Archbishop of Melbourne it was purchased in 1980 by the wealthy Melbourne businessman, Richard Pratt. Today, its grand scale reminds all of the unique qualities of this highly sought-after suburb.
Befitting the esteem in which Kew is held is the prices its houses attract. The median sale price for a Kew house in the 12 months to October 2016 was $2.1 million1, making it the tenth most expensive suburb in Melbourne2.
The weekly median advertised rent in Kew for the 12 months to October 2016 was $7303. The median gross yield for the 12 months being 1.8%4.
The median sale price for a unit during the same period was $635,000, a 1.6 per cent increase in the 12 months to August 20155. The median rent during this time was $435, giving a median gross yield of 3.6%6.
Overall, from 2005-2015 the median house price in Kew increased 172%, with the median annual growth over this time being 10.5%7.
While large houses nestled amongst leafy streets explain a great deal of the attraction of Kew, for families with children, or prospective families, the suburb has another key feature: its schools. Kew is home to a large number of Melbourne’s most exclusive private schools including Genazzano FCJ College, Methodist Ladies’ College, Trinity Grammar School and Xavier College. The long list of successful alumni from these schools undoubtedly makes Kew the epicentre of elite secondary education in Australia.
With so many school children making their way to and from the suburb on a daily basis, it is no surprise that Kew has excellent public transport options. Three trams routes pass through it as well as numerous bus routes, and Glenferrie train station is just five minutes down the road.
As one of Melbourne’s oldest and most high-status suburbs, Kew has an air about it that exudes elegance. If you want to enjoy the fruits of life in leafy, green suburb close to the CBD, it doesn’t get any better than Kew.
– Last updated November 2016.