Deepdene (Vic.)

Deepdene is positioned among the lower quartile of areas assessed nationally for population growth based on AreaSearch's assessment of recent, and medium term trends

As of May 2026, the population of the suburb of Deepdene (Vic.) is estimated at around 2,064 people. This reflects a decrease from the 2021 Census figure of 2,101 people, a change inferred from AreaSearch's analysis of the latest ERP data release by the ABS in June 2025 and validation of one new address since the Census date. The population density is estimated at 2,345 persons per square kilometer, placing Deepdene in the upper quartile relative to national locations assessed by AreaSearch. Overseas migration was the primary driver of population growth in recent periods. AreaSearch adopts ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022.

For areas not covered, AreaSearch utilises VIC State Government's Regional/LGA projections from 2023, adjusted using weighted aggregation methods to SA2 levels. Growth rates by age group are applied across all areas for the years 2032 to 2041. Based on these aggregated projections, Deepdene is anticipated to grow by 89 persons by 2041, reflecting a total gain of 4.3% over the 16-year period.

The level of residential development activity in Deepdene is very low in comparison to the average area assessed nationally by AreaSearch

AreaSearch analysis of ABS building approval numbers in Deepdene shows approximately 4 new homes approved annually. Over the past five financial years, from FY-21 to FY-25, around 24 homes were approved, with one more approved so far in FY-26. Despite population decline, development activity has been adequate relative to other areas, benefiting buyers.

The average expected construction cost of new dwellings is $1,367,000, indicating a focus on the premium market segment. In FY-26, there have been $2.9 million in commercial approvals, suggesting limited commercial development emphasis. Compared to Greater Melbourne, Deepdene has significantly lower building activity, at 59.0% below the regional average per person. This constrained new construction typically reinforces demand and pricing for existing dwellings. Nationally, Deepdene's level is also below average, reflecting its mature status and possible planning constraints. New building activity in Deepdene comprises 33.0% detached houses and 67.0% medium to high-density housing. This shift towards denser development offers accessible entry options for downsizers, investors, and first-time buyers, marking a departure from the current 67.0% house dominance.

With around 4198 people per dwelling approval, Deepdene exhibits a highly mature market. According to AreaSearch's latest quarterly estimate, Deepdene is projected to add 89 residents by 2041. At current development rates, new housing supply should comfortably meet demand, creating favorable conditions for buyers and potentially supporting population growth beyond current projections.

Deepdene has very high levels of nearby infrastructure activity, ranking in the top 10% nationally

Changes to local infrastructure significantly impact an area's performance. AreaSearch has identified four projects that could affect this region: Koonung Creek Reserve Restoration, Parring Collection, 1207-1209 Burke Road Townhomes, and Boston Balwyn. The following details those considered most relevant.

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Employment performance in Deepdene exceeds national averages across key labour market indicators

Deepdene has an educated workforce with professional services well represented. Its unemployment rate is 2.5%. Over the past year, it maintained relative employment stability.

As of December 2025999 residents are employed while the unemployment rate stands at 2.2%, lower than Greater Melbourne's 4.8%. Workforce participation in Deepdene is 57.2%, significantly below Greater Melbourne's 69.9%. According to Census responses, 44.5% of residents work from home, potentially influenced by Covid-19 lockdowns. Leading employment industries include health care & social assistance, professional & technical services, and education & training.

Deepdene specializes in professional & technical jobs with an employment share 1.5 times the regional level. Construction employment is limited at 4.7%, compared to the regional average of 9.7%. Some residents commute elsewhere for work based on Census data comparing working population to local population. Between December 2024 and December 2025, labour force levels in Deepdene increased by 0.4% while employment declined by 0.2%, leading to a 0.6 percentage point rise in unemployment. In contrast, Greater Melbourne saw employment grow by 2.4%, the labour force increase by 2.8%, and unemployment rise by 0.3 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 project overall employment growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Deepdene's employment mix suggests local employment could increase by 7.4% over five years and 14.9% over ten years, though these are simple extrapolations for illustrative purposes only.

Income analysis reveals strong economic positioning, with the area outperforming 60% of locations assessed nationally by AreaSearch

The suburb of Deepdene has a median taxpayer income of $56,176 and an average income of $107,504 based on the latest postcode level ATO data aggregated by AreaSearch for the financial year 2023. This places it in the top percentile nationally, contrasting with Greater Melbourne's median income of $57,688 and average income of $75,164. Using a Wage Price Index growth rate of 9.62% since financial year 2023, current estimates for Deepdene would be approximately $61,580 (median) and $117,846 (average) as of March 2026. According to Census 2021 income data, household, family, and personal incomes in Deepdene rank highly nationally, between the 77th and 80th percentiles. The data shows that 27.9% of Deepdene's population (575 individuals) fall within the $4000+ income range, contrasting with the surrounding region where the $1,500 - 2,999 bracket leads at 32.8%. Deepdene demonstrates considerable affluence with 37.1% earning over $3,000 per week, supporting premium retail and service offerings. Housing accounts for 13.4% of income while strong earnings rank residents within the 82nd percentile for disposable income. The area's SEIFA income ranking places it in the 9th decile.

Deepdene displays a diverse mix of dwelling types, with above-average rates of outright home ownership

Deepdene's dwelling structure, as per the latest Census data, consisted of 66.8% houses and 33.3% other dwellings (semi-detached, apartments, 'other' dwellings). This compares to Melbourne metro's 67.9% houses and 32.1% other dwellings. In Deepdene, home ownership stood at 50.6%, with mortgaged dwellings at 28.0% and rented ones at 21.4%. The median monthly mortgage repayment in the area was $3,000, higher than Melbourne metro's average of $2,000. The median weekly rent figure in Deepdene was $501, compared to Melbourne metro's $390. Nationally, Deepdene's mortgage repayments were significantly higher than the Australian average of $1,863, while rents were substantially above the national figure of $375.

Deepdene has a typical household mix, with a fairly typical median household size

Family households account for 72.1% of all households, including 33.9% couples with children, 28.3% couples without children, and 8.9% single parent families. Non-family households constitute the remaining 27.9%, with lone person households at 25.2% and group households comprising 2.3% of the total. The median household size is 2.6 people, aligning with Greater Melbourne's average.

Deepdene demonstrates exceptional educational outcomes, ranking among the top 5% of areas nationally based on AreaSearch's comprehensive analysis of qualification and performance metrics

Deepdene's educational attainment is notably high, with 54.0% of residents aged 15+ having university qualifications compared to Australia's 30.4% and Victoria's 33.4%. The area has a significant educational advantage, led by bachelor degrees at 34.1%, followed by postgraduate qualifications (16.1%) and graduate diplomas (3.8%). Vocational pathways account for 18.3% of qualifications among those aged 15+, with advanced diplomas at 10.6% and certificates at 7.7%. Educational participation is high, with 31.3% of residents currently enrolled in formal education, including 9.4% in secondary, 9.2% in tertiary, and 7.8% in primary education.

Educational participation is notably high, with 31.3% of residents currently enrolled in formal education. This includes 9.4% in secondary education, 9.2% in tertiary education, and 7.8% pursuing primary education.

Transport servicing is high compared to other areas nationally based on assessment of service frequency, route connectivity and accessibility

Public transport analysis shows eight active transport stops operating within Deepdene. These include light rail services. Two individual routes service these stops, collectively providing 3420 weekly passenger trips. Transport accessibility is rated good, with residents typically located 213 meters from the nearest stop. As a primarily residential area, most residents commute outward. Car remains the dominant mode of transport at 83%, with 6% by train and 5% walking.

Vehicle ownership averages 1.3 per dwelling. According to the 2021 Census, 44.5% of residents work from home, which may reflect COVID-19 conditions. Service frequency averages 488 trips per day across all routes, equating to approximately 427 weekly trips per individual stop.

Deepdene's residents are extremely healthy with both young and old age cohorts seeing low prevalence of common health conditions

Analysis of health metrics shows strong performance throughout Deepdene. AreaSearch's assessment found low prevalence of common health conditions across both young and old age cohorts. The rate of private health cover was exceptionally high at approximately 69% of the total population (1,426 people), compared to 56.7% across Greater Melbourne and 55.7% nationally.

The most common medical conditions were arthritis and asthma, impacting 8.6 and 6.3% of residents respectively, while 71.3% declared themselves completely clear of medical ailments, compared to 72.6% in Greater Melbourne. Working-age residents showed low chronic condition prevalence. Deepdene has 27.9% of residents aged 65 and over (575 people), higher than the 15.0% in Greater Melbourne. Health outcomes among seniors were above average, with national rankings broadly in line with the general population.

Deepdene was found to be more culturally diverse than the vast majority of local markets in Australia, upon assessment of a range of language and cultural background related metrics

Deepdene's cultural diversity is notable, with 38.1% of its population born overseas and 34.7% speaking a language other than English at home. Christianity is the predominant religion in Deepdene, comprising 46.2% of its population. Buddhism, however, stands out as overrepresented compared to Greater Melbourne, making up 5.6% versus 4.2%.

The top three ancestry groups are Chinese (21.6%), English (21.3%), and Australian (15.6%). Hungarian (0.4%) is slightly overrepresented compared to the regional average of 0.3%, while Vietnamese (1.9%) and Sri Lankan (0.5%) also show notable divergences in their representation.

Deepdene hosts an older demographic, ranking in the top quartile nationwide

The median age in Deepdene is 46 years, notably higher than Greater Melbourne's average of 37 years and also above Australia's median age of 38 years. Compared to the Greater Melbourne average, the percentage of people aged 85 and over is significantly higher in Deepdene at 6.9%, while those aged 25 to 34 are under-represented at 10.1%. Between the 2021 Census and present, the proportion of people aged 85 and over has increased from 5.6% to 6.9%, while the percentage of those aged 25 to 34 has risen from 8.8% to 10.1%. Conversely, the proportion of people aged 35 to 44 has decreased from 11.1% to 10.1%. By 2041, Deepdene's population is projected to see significant demographic changes. The number of people aged 85 and over is expected to grow by 85 individuals (60%), from 142 to 228. The aging population trend is evident, with those aged 65 and over comprising 87% of the projected growth. Conversely, the populations aged 25 to 34 and 35 to 44 are expected to decrease.