Carnegie, VIC 3163
Glen Eira City, Victoria
Good to Know
Carnegie, VIC 3163 is a high-value house market in the Glen Eira City Council area, currently positioned as a long-hold capital growth submarket. Located about 13 km south-east of Melbourne CBD, Carnegie is home to roughly 17,909 adults across 10,065 dwellings and records a vacancy rate of 1.97%.
According to HtAG Analytics, Carnegie is exhibiting tight supply with firm rental momentum. Stock on Market sits at 0.17% and Inventory at 0.93 months — well below the ~3-month balanced-market threshold — driving +2.3% YoY price growth and +3.6% YoY rent growth.
What the market data is signalling
Carnegie's modest +2.3% annual price growth alongside stronger +3.6% rent growth suggests rental demand is outpacing capital appreciation at present. Combined with a gross yield of 2.86% (below the 3% recommended minimum) and an affordability horizon of 60 years (stretched), the submarket looks more cashflow-constrained for buy-and-hold investors but offers tight supply support for capital values.
Low Stock on Market (0.17%) and low Inventory (0.93 months) are opportune for sellers and create upward pressure on prices and fast turnaround times — a dynamic you can explore visually on the Markets in the Moment (MiM™) heatmap.
Who lives in Carnegie — and why it matters for investors
Carnegie records an IRSAD of 1076, indicating a relatively advantaged socio-economic profile that tends to reduce downside volatility and supports long-cycle capital growth. The Renter/Owner split is 42.0% (neutral), so there is a balanced mix of tenants and owners.
However, the Units/Houses ratio is 78.0% (unfavourable), meaning the local housing stock is heavily weighted to units — an important supply characteristic for house investors to consider. Read more on how neighbourhood socio-economic shifts affect performance in our IRSAD Crossover study.
Why suburb-level data matters for Carnegie
Suburb-level metrics reveal the specific market pressures that matter for investment decisions. Carnegie's typical house price of $1,549,427, gross yield of 2.86%, Stock on Market of 0.17%, Inventory of 0.93 months and median days on market of 25 days describe a tightly-held, fast-moving house submarket — details that can be masked by broader averages at council level. For methodology on this point see LGA vs Suburb research.
For the complete set of local figures download the full Carnegie data guide.
What's behind the RCS™ score of 58
HtAG's RCS™ score of 58 bundles three independent dimensions — risk minimisation, capital-growth potential and cashflow resilience — into a single composite to help match markets to investor strategies. Inspecting the sub-scores is essential to understand whether Carnegie better suits a growth or an income objective; learn more about how the RCS™ is built.
open Carnegie in HtAG Copilot to explore sub-score detail and scenario modelling.
Forward signals to watch
The vacancy rate — currently 1.97%: sustained neutral vacancy in the 1–3.5% band typically supports steady rent growth without extreme landlord leverage; watch for falls below 1% for stronger rental inflation.
The building approvals ratio — currently 0.67%: this neutral reading signals moderate development activity, so immediate supply shocks are unlikely but incremental unit completions (given the high units/houses ratio) could ease pressure over several years.
The Melbourne cycle phase: a city-wide shift toward expansion would amplify local momentum in Carnegie, while a broadening downturn would test the suburb's price resilience despite tight local inventory.
Does this area meet your investment goals?
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RCS Breakdown
Carnegie's RCS™ headline is an overall signal — but it doesn't tell you why. The three sub-scores below reveal whether that score is earned through risk minimisation, capital growth, or cashflow — and which portfolio brief it fits.
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Market Trends
Carnegie's headline values — $1,549K to buy and $852PW to rent, a 2.85% gross yield. Over the past decade, prices have moved 14.36% and rents 44.09% — the Yield series shows whether that gap is widening (price outpacing rent, yield compressing) or closing.
$1,549K is today. The 10-year trajectory reveals whether that's the top of a run, the start of a new leg, or somewhere mid-cycle. Sign up to unlock the entire trend line.
$852PW today, with rent growth at (+3.65% YoY) compared to price growth (+2.34%). That spread determines yield is expanding or compressing across the next cycle. Sign up to unlock the entire trend line.
Where is Carnegie in its cycle - and is the 2.85% yield holding?
Cycle phase tells you whether you're buying near the bottom (room to run) or top (compression ahead). Yield trajectory tells you whether cashflow is durable or being eroded — the single most important question for a long-hold thesis.
Cycle Phase
Cycle Position
Yield Trajectory
Rent vs Price Spread
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Area Risks
Property data alone won't flag the structural risks that can erode a long-hold position. Bushfire overlays, flood-zone exposure, and economic concentration sit outside the price feed but determine whether your capital is insurable, defensible, and structurally protected. Unlock to see.
Are there hidden structural risks shaping Carnegie's long-hold story?
Beyond the headline price, Carnegie carries risk signals a median can't show — hazard exposure from bushfire and flood overlays, and how narrowly local employment leans on a handful of sectors (the concentration the EDI score quantifies). Together these separate insurable, defensible long-holds from those carrying tail-risk that never surfaces in the headline number.
MADI Risk
EDI Risk
Bushfire
Flood
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Critical to know
Supply & Demand
Carnegie's headline numbers show where the market is today. The two cards below answer where it's heading. Direction is what separates a buy from a wait.
Is housing supply tightening or building up?
Stock on Market is one number — the trend is what matters. SoM, inventory, building approvals and hold period together reveal whether the market is starving for stock (price pressure up) or quietly building a pipeline (pressure down).
Stock on Market
Inventory
Building Approvals
Hold Period
Is buyer and renter demand heating up or cooling off?
Vacancy is one signal — the real question is whether demand is still building or quietly peaking. Days on market, vacancy, search index and clearance rate are the four pulse-points — when they diverge, they signal a turning point.
Days on Market
Vacancy Rate
Search Index
Clearance Rate
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Fundamentals
Carnegie can look solid on the surface — but the three layers below separate markets that genuinely hold value from ones that only look like they do.
Is Carnegie genuinely stable - or just expensive?
IRSAD hints at affluence, but socio-economic strength alone doesn't guarantee resilience. Combined with the renter-to-owner balance and unit-to-house ratio, you get the three signals that separate a tightly-held submarket from one carrying hidden volatility.
IRSAD
Renter to Owner
Units to Houses
Where do Carnegie prices go over the next 12 months?
Today's headline price is just a snapshot. Projected ROI and the volatility index tell you whether to commit capital now, wait for a softer entry, or rotate into a steadie submarket.
Projected Annual ROI
Volatility Index
Can you actually buy into Carnegie - and exit cleanly?
Tightly-held areas reward long-hold investors but punish anyone who needs liquidity. Annual sales and rental volume reveal whether your capital can reposition — or sits structurally locked in.
Annual Sales Volume
Annual Rental Volume
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Important to know
Education & Infrastructure
Carnegie looks tightly-held and stable on the surface — but the three layers below separate areas that genuinely hold value from ones that only look like they do.
Does Carnegie's school catchment + infrastructure pipeline justify the price?
School ranks anchor family demand and tenant quality. The active infrastructure pipeline shifts a suburb's price ceiling over the next 5–10 years. Together they tell you whether Carnegie has structural support for the next leg of capital growth.
School Rank
Hospitals & Employment
Infrastructure Spend
Transport Projects
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Full HtAG Intelligence
Carnegie shows potential. The platform tells you whether it's the best fit for your portfolio.
Price and yield are only the surface. HtAG reads the forces underneath — supply tightening or loosening, demand heating or cooling, and the risks that move slowly but decide long-term growth. Together they show whether Carnegie has the structural support for its next leg — or whether the numbers are running ahead of the fundamentals.
The total adult population (15 years or older) of Carnegie 3163 VIC is 15,429, with a median age of 36. Of those, 40.99% are married, 10.00% are divorced or separated, 44.80% are single and 4.25% are widowed.
The average household size is 2.2 people per dwelling, and the median household monthly income is estimated to be $10,180. The median monthly mortgage repayment for households in this suburb is $2,040 which is 20.04% of their earnings.
Source: ABS Census Data (2021)