A single suburb, as the publisher names it.
Population grew +2.1% over the year to 30 June 2025, against +1.5% for Australia over the same period.
Net overseas migration was the largest component of that change.
Dwelling approvals were +473.3% against the twelve months before. Approvals are permission to build, not completed dwellings.
Completions over the same period were equivalent to 91% of commencements, for Victoria. These figures compare pipeline flows and do not track individual approved dwellings through construction.
Achieved rents moved +3.6% over the year, against +4.6% for the middle suburb in Victoria.
Each of these is a separate reading with its own rule and its own figures, set out under Housing Balance below. There is deliberately no single score: one number would hide which of them was doing the work.
At $570 a week, Carnegie is higher than 50% of the 146 VIC suburbs we hold.
Rents there are up 3.6% over the past year, about the same as the typical VIC suburb (up 4.5%).
Based on 1,037 new leases, which is a large enough sample to be steady quarter to quarter.
Moving annual median, being the median across every lease signed in the preceding twelve months, which is smoother than a quarterly figure and lags one. Every point is a figure the publisher published; nothing between them is filled in.
| Median weekly rent | $570 | publisher’s figure · the twelve months to September 2025 |
|---|
Every quarter the publisher reported, as figures rather than a shape. Download as CSV — a stable link you can cite, check against the publisher’s own workbook, or put in a spreadsheet.
| Quarter | Median weekly rent | Change on the quarter before |
|---|---|---|
| September quarter 2025 | $570 | +1.8% |
| June quarter 2025 | $560 | +1.8% |
| March quarter 2025 | $550 | 0.0% |
| December quarter 2024 | $550 | 0.0% |
| September quarter 2024 | $550 | +3.8% |
| June quarter 2024 | $530 | +1.9% |
| March quarter 2024 | $520 | +3.0% |
| December quarter 2023 | $505 | +5.2% |
| September quarter 2023 | $480 | +6.7% |
| June quarter 2023 | $450 | +3.4% |
| March quarter 2023 | $435 | +6.1% |
| December quarter 2022 | $410 | +2.5% |
| September quarter 2022 | $400 | +1.3% |
| June quarter 2022 | $395 | +1.3% |
| March quarter 2022 | $390 | 0.0% |
| December quarter 2021 | $390 | -1.3% |
| September quarter 2021 | $395 | -1.3% |
| June quarter 2021 | $400 | -2.4% |
| March quarter 2021 | $410 | -4.7% |
| December quarter 2020 | $430 | -1.1% |
| September quarter 2020 | $435 | -1.1% |
| June quarter 2020 | $440 | 0.0% |
| March quarter 2020 | $440 | +1.1% |
| December quarter 2019 | $435 | -1.1% |
| September quarter 2019 | $440 | +1.1% |
| June quarter 2019 | $435 | +1.2% |
| March quarter 2019 | $430 | +1.2% |
| December quarter 2018 | $425 | +1.2% |
| September quarter 2018 | $420 | 0.0% |
| June quarter 2018 | $420 | 0.0% |
| March quarter 2018 | $420 | +0.5% |
| December quarter 2017 | $418 | +3.5% |
| September quarter 2017 | $404 | +1.0% |
| June quarter 2017 | $400 | +1.3% |
| March quarter 2017 | $395 | +2.6% |
| December quarter 2016 | $385 | +1.3% |
| September quarter 2016 | $380 | 0.0% |
| June quarter 2016 | $380 | 0.0% |
| March quarter 2016 | $380 | +2.7% |
| December quarter 2015 | $370 | +1.4% |
| September quarter 2015 | $365 | +1.4% |
| June quarter 2015 | $360 | 0.0% |
| March quarter 2015 | $360 | 0.0% |
| December quarter 2014 | $360 | +2.6% |
| September quarter 2014 | $351 | +0.3% |
| June quarter 2014 | $350 | 0.0% |
| March quarter 2014 | $350 | 0.0% |
| December quarter 2013 | $350 | 0.0% |
| September quarter 2013 | $350 | 0.0% |
| June quarter 2013 | $350 | 0.0% |
| March quarter 2013 | $350 | 0.0% |
| December quarter 2012 | $350 | +1.4% |
| September quarter 2012 | $345 | 0.0% |
| June quarter 2012 | $345 | +4.5% |
| March quarter 2012 | $330 | 0.0% |
| December quarter 2011 | $330 | 0.0% |
| September quarter 2011 | $330 | 0.0% |
| June quarter 2011 | $330 | -1.5% |
| March quarter 2011 | $335 | +3.1% |
| December quarter 2010 | $325 | +1.6% |
| September quarter 2010 | $320 | +1.6% |
| June quarter 2010 | $315 | +3.3% |
| March quarter 2010 | $305 | +1.7% |
| December quarter 2009 | $300 | 0.0% |
| September quarter 2009 | $300 | 0.0% |
| June quarter 2009 | $300 | 0.0% |
| March quarter 2009 | $300 | +3.4% |
| December quarter 2008 | $290 | +3.6% |
| September quarter 2008 | $280 | +3.7% |
| June quarter 2008 | $270 | +1.9% |
| March quarter 2008 | $265 | +6.0% |
| December quarter 2007 | $250 | +4.2% |
| September quarter 2007 | $240 | 0.0% |
| June quarter 2007 | $240 | +4.3% |
| March quarter 2007 | $230 | +4.5% |
| December quarter 2006 | $220 | +4.8% |
| September quarter 2006 | $210 | +5.0% |
| June quarter 2006 | $200 | 0.0% |
| March quarter 2006 | $200 | 0.0% |
| December quarter 2005 | $200 | 0.0% |
| September quarter 2005 | $200 | 0.0% |
| June quarter 2005 | $200 | 0.0% |
| March quarter 2005 | $200 | 0.0% |
| December quarter 2004 | $200 | 0.0% |
| September quarter 2004 | $200 | +5.3% |
| June quarter 2004 | $190 | 0.0% |
| March quarter 2004 | $190 | 0.0% |
| December quarter 2003 | $190 | 0.0% |
| September quarter 2003 | $190 | +2.7% |
| June quarter 2003 | $185 | 0.0% |
| March quarter 2003 | $185 | 0.0% |
| December quarter 2002 | $185 | +2.8% |
| September quarter 2002 | $180 | 0.0% |
| June quarter 2002 | $180 | 0.0% |
| March quarter 2002 | $180 | +1.1% |
| December quarter 2001 | $178 | +1.7% |
| September quarter 2001 | $175 | +2.9% |
| June quarter 2001 | $170 | +3.0% |
| March quarter 2001 | $165 | 0.0% |
| December quarter 2000 | $165 | +3.1% |
| September quarter 2000 | $160 | 0.0% |
| June quarter 2000 | $160 | 0.0% |
| March quarter 2000 | $160 | — |
Victoria publishes no openly licensed sale prices at this level, so there is no yield here rather than one built on a value we would have to model.
Only New South Wales publishes rent quartiles, so the spread of rents within this market is not shown.
The suburbs either side of Carnegie, ranked by the same figure in the same quarter.
| Suburb | Median rent | One year |
|---|---|---|
| Seaford-Carrum Downs | $560 | +7.7% |
| St Kilda | $560 | +3.7% |
| Heidelberg-Heidelberg West | $565 | +6.6% |
| Carnegie | $570 | +3.6% |
| Flemington-Kensington | $570 | +14.0% |
| Ocean Grove-Barwon Heads | $570 | +1.8% |
| Springvale | $570 | +3.6% |
The Australian Bureau of Statistics publishes population and dwelling approvals by council area, not by suburb, and a suburb is not one of its statistical areas. Rather than report a neighbouring boundary’s figures as this market’s, neither is shown here.
Where housing demand is coming from, how quickly supply is being delivered, and how rents are responding. Six readings, each with the figures behind it and the rule that turned those figures into a word. None of them says a market is short of housing: that needs household formation, which APRIQ does not hold, and is not estimated here.
The Australian Bureau of Statistics does not publish population for suburbs. What is shown is the figure for Carnegie, the statistical area containing Carnegie — it describes that wider area, not this suburb.
Strong
How fast the population is growing, against the national rate.
| Population growth, Carnegie | +2.1% | the year to 30 June 2025 |
|---|---|---|
| Population growth, Australia | +1.5% | the year to 30 June 2025 |
Strong when growth is at least half a percentage point above the national rate, weak when at least half a point below, moderate in between. Population is one ABS instrument measured the same way everywhere, so a market compares to Australia.
Net overseas migration
Which component moved the population most over the latest year the ABS splits it.
| Natural increase, Carnegie | +63 | the year to 30 June 2025 |
|---|---|---|
| Net internal migration, Carnegie | −218 | the year to 30 June 2025 |
| Net overseas migration, Carnegie | +584 | the year to 30 June 2025 |
The largest of natural increase, net internal migration and net overseas migration by absolute size, so a large outflow is named rather than hidden inside a net total. This states which component was largest. It says nothing about why anyone moved.
Expanding
Whether dwelling approvals are running above or below the year before.
| Dwellings approved, Carnegie | 86 | June quarter 2026 |
|---|---|---|
| The twelve months before, Carnegie | 15 | a year earlier |
| Change on the year before, Carnegie | +473.3% | June quarter 2026 |
Expanding above +10%, contracting below −10%, stable in between, comparing twelve months of approvals against the twelve before them. An approval is permission to build, not a dwelling. Where a market is smaller than the areas the Australian Bureau of Statistics counts approvals for, this is a blend of those areas' own changes, weighted by how much of each the market covers — not a count of approvals here.
Moderate
How much housing is being finished, against how much is being started.
| Dwellings completed, Victoria | 12,220 | March quarter 2026 |
|---|---|---|
| Dwellings started, Victoria | 13,437 | March quarter 2026 |
| Completions as a share of commencements | 91% | March quarter 2026 |
Strong at or above 95% of commencements, weak below 80%, moderate in between, over the same twelve months. Completions during the period compared with commencements during the period — these figures compare pipeline flows and do not track individual approved dwellings through construction.
Moderate
How fast achieved rents are rising, against the rest of the state.
| Rent change over a year, Carnegie | +3.6% | the twelve months to September 2025 |
|---|---|---|
| Rent change over a year, the middle suburb in Victoria | +4.6% | the twelve months to September 2025 |
High when rents rose at least one percentage point faster than the state, low when at least a point slower, moderate in between. Compared against the state rather than the nation because each bond authority defines its own series: changes compare, levels do not.
Limited
How much of this market's picture was measured for this market.
| Demand evidence | measured for a larger area containing this market | how it was made |
|---|---|---|
| Components present | 5 of 5 | on this page |
High where the demand evidence was published for this geography and most components are present; moderate where it was derived through an official ABS correspondence; limited where it describes a larger area containing this market, or where components are missing.
Four separate readings, each with the figures behind it and the rule that turned those figures into words. There is deliberately no single score: one number would hide which of these was doing the work, and a market with strong rental evidence and no population figure would score as though it had both. Every signal describes what has been measured — none of them is advice, and none says what will happen next.
Moving with the rest of Victoria
How rents here moved over a year, against the typical suburb in Victoria.
| Rent change over a year here | +3.6% | the twelve months to September 2025 against a year earlier |
|---|---|---|
| The middle suburb in Victoria | +4.6% | the twelve months to September 2025 against a year earlier |
| Difference | −0.9 percentage points | the twelve months to September 2025 against a year earlier |
| Markets in the comparison | 146 | the twelve months to September 2025 against a year earlier |
The difference between this market’s one-year rent change and the middle change across every suburb the same publisher reports, in percentage points: 3 or more above is well above, 1 above is above, within 1 either way is in line. Changes are compared within one state because each bond authority defines its own series — movement may be compared between them, the rent itself may not.
Not enough evidence
How fast the population here is changing, against how fast Australia is changing.
No population estimate is published for this market at a geography the ABS uses.
Not enough evidence
How many dwellings this market approved over twelve months for every thousand residents, against the national rate. Approvals are permission to build, not completed dwellings.
Dwelling approvals are published by council area, and this market is not one.
Thin
How much weight the figures on this page can carry.
| New leases behind the current figure | 1,037 | the twelve months to September 2025 |
|---|---|---|
| Quarters of history | 103 | to the twelve months to September 2025 |
| How current | 3 quarters behind the newest any state has published | the twelve months to September 2025 |
| Origin | As the publisher published it | the twelve months to September 2025 |
| Knowability | Dated by the end of its reference period, because no release date is recorded | the twelve months to September 2025 |
Strong needs 200 or more new leases behind the current figure, the most recent quarter published anywhere, and eight or more quarters of history. Adequate needs 50 leases and no more than one quarter behind. A withheld count cannot earn better than thin, because a suppressed number is unknown rather than small.
The latest figures here cover the twelve months to September quarter 2025, which ended 30 September 2025. December quarter 2025 has since closed and no figures for it have appeared here. Either the publisher has not released it or we have not yet retrieved it; we do not guess which, and nothing here is filled in meanwhile.
The rent figures here are published by Department of Families, Fairness and Housing and used under an open licence. Any other figure on this page names its own publisher on the line it appears on. Every rent figure is either as published or arithmetic on figures as published. APRIQ models and estimates nothing: where a figure is a publisher’s own estimate — an estimated resident population is one — it is called an estimate where it is shown. Growth is measured between named quarters, never by counting back rows, because an area is published only when it clears the publisher’s reporting threshold. This page exists because Carnegie has 1,037 bonds behind its current figure and 103 quarters of history; markets with less than that get no page rather than a thin one. Method, sources and licences.