Box Hill Property Market & Buyers Agents 2026

Box Hill's property market is a tale of two distinct segments: established family homes and high-density apartments. The suburb has cemented its status as a key commercial and transport hub for Melbourne's east, driving significant population growth and development. This has resulted in a landscape where traditional Californian bungalows coexist with some of Melbourne's tallest suburban skyscrapers.

The median house price currently sits around $1.66 million, having seen a slight decrease of 2.2% over the past year, suggesting a market that is stabilising after a period of strong growth. In contrast, the five-year growth for houses remains positive at 1.4%, indicating underlying long-term strength. The unit market, however, has experienced a more significant correction, with a median price of $500,000, representing a 14.8% drop year-on-year. This is largely attributed to the substantial pipeline and delivery of new apartment projects, which has increased supply and competition.

For investors, the market presents a mixed picture. While house rental yields are modest at around 2.5%, the unit market offers a more attractive yield of approximately 6.0%, driven by strong rental demand from students, young professionals, and hospital workers. However, investors in the unit market must be wary of the high supply levels. The ongoing development, including the Suburban Rail Loop which will feature a major interchange at Box Hill, is set to further bolster the suburb's status as a 'satellite CBD'. This major infrastructure project is expected to underpin long-term capital appreciation for well-located properties, despite potential short-term supply pressures.

Box Hill, located 14 kilometres east of Melbourne's CBD, is a bustling and culturally rich suburb that has evolved into a major commercial and residential hub for the eastern suburbs. Its identity is strongly shaped by its large and vibrant Asian community, which is reflected in the authentic food scene at Box Hill Central and along Station Street, attracting visitors from across Melbourne.

The suburb is a powerhouse for education and health. It is home to the highly sought-after Box Hill High School, as well as other respected institutions like Our Lady of Sion College, St Francis Xavier Catholic Primary School, and Kingswood College. The Box Hill Institute provides extensive TAFE and higher education courses. The medical precinct is anchored by the Box Hill Hospital and the private Epworth Eastern hospital.

Transport connectivity is a cornerstone of Box Hill's appeal. The underground Box Hill railway station is a major interchange on the Belgrave and Lilydale lines, complemented by a large bus terminal and the Route 109 tram service, which provides a direct link to the CBD and Port Melbourne. The future Suburban Rail Loop interchange will further enhance its status as a critical transport node.

For recreation, residents have access to several green spaces, including the Box Hill Gardens, which offers a tranquil retreat with a duck pond and playground, and Surrey Park, which provides sporting ovals. Shopping is dominated by the dual-building Box Hill Central, which offers a mix of major retailers, services, and a renowned fresh food market.