Macedon Ranges · 3461
Hepburn Springs, VIC
20.2%/yr capital growth, population +7.8% (5y).
NextSuburb scoreTier D
26Below trend
Median house
$1.50M
5y growth
20.2%/yr
Gross yield
1.2%
Vacancy
2.4%
Thin market · ~0.4k residentsLow confidence
Thin marketSmall sample sizes (~3 sales/yr) can distort medians. Treat the score with caution and weight the eight-signal breakdown over the headline number.
Eight-signal breakdown
Each signal scored 0–100 against the national distribution. Bars reflect how this suburb sits across the index.
- Capital growth (5y)20.2%/yr100/100
- Population growth+7.8% (5y)78/100
- Supply tightening+5.0% YoY25/100
- Rental yield1.2%24/100
- Rental demand2.4% vacancy40/100
- Income growth+13.0% (5y)52/100
- Construction pipelineno nearby pipeline0/100
- Affordability0% under cap0/100
Why this score
Hepburn Springs scores 26/100 (Below trend). The two strongest signals: 20.2%/yr capital growth over five years and 7.8% population growth over five years. The standout watch-out: population of 368 makes the market illiquid.
Drivers
- Capital growth20.2%/yr
- Population growth+7.8% (5y)
Risks
- Only 368 residents — illiquid, slow to sell
- At top of budget (100% of cap)
Nearest infrastructure
Melbourne Airport Rail — Sunshine Hub79.9 km away
Approved · $13.0bn · completion 2033
Construction-stage projects within 10 km lift the suburb’s infrastructure score; projects more than 25 km away barely move it.
Comparable suburbs
Three VIC suburbs in the same budget band with the closest NextSuburb scores.
See the full VIC ranking60-month score history
Backfilled — live history begins May 2026Watch this suburb
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