Victoria Property Spotlight
Wheelers Hill property and home loan guide
Wheelers Hill is a family suburb about 23 km south-east of Melbourne's CBD, in the City of Monash. It's mostly large houses (84.9% in the 2021 Census) and 58.3% of homes have four or more bedrooms. Jells Park is in the suburb. Most homes are owned, with 47.6% owned outright. Time Home Loans is based in Brisbane and works with Wheelers Hill buyers by phone and video. Here larger loans and rebuilds come up most.
Information last updated 3 November 2026
Market snapshot
| Houses | Units | Source | |
|---|---|---|---|
| Share of homes | 84.9% separate houses, 5.8% terraces and townhouses | 9.4% flats and apartments | ABS Census 2021 (Wheelers Hill) |
In the 2021 Census, 77.8% of Wheelers Hill homes were owned outright or with a mortgage and 13.2% were rented. The median weekly rent across all homes was $481 (ABS). Rents by bedroom aren't shown for this area. Sale prices will be added once licensed figures are available.
Figures are a guide only and change over time. Past movements in values and rents don't predict future results.
Living in Wheelers Hill
The post office opened as Mulgrave on 1 January 1869. In 1888 the area and the post office were renamed after James Wheeler, an early settler in the Dandenong district. The Wheelers Hill Hotel was a stopping point for farmers on the long drive to the city markets.
Wheelers Hill was part of the City of Waverley until 15 December 1994, when Waverley and much of Oakleigh merged to form the City of Monash. Jells Park opened in 1976 and the gallery designed by Harry Seidler was completed in 1990.
Transport
- There's no train station in Wheelers Hill. Many residents use Glen Waverley station at the end of the Glen Waverley line.
- Buses run along the main roads.
- Most people drive. In the 2021 Census just 1.0% of working residents took the train to work.
- Plan trips on the PTV journey planner.
Schools
Wheelers Hill Secondary College is a government school that opened in 1980 as Wheelers Hill High School. Caulfield Grammar School has its Wheelers Hill campus in the suburb. Several government primary schools serve the area.
Government school zones change, so check findmyschool.vic.gov.au for any address before you buy.
Shopping and dining
Wheelers Hill has local shopping centres for groceries and everyday needs. Glen Waverley's larger centre is a short drive away.
Parks and recreation
- Jells Park covers about 127 hectares with a lake, wetlands and about 9 km of walking and cycling paths.
- Mulgrave Reserve is home to the Mulgrave Football Club.
- The Museum of Australian Photography shares a building with the Wheelers Hill Library on Jells Road.
Lifestyle
Wheelers Hill suits families who want a big house and a quiet street. Family households made up 78.6% of the suburb in 2021 and the median age was 48. It's a diverse suburb. 49.6% of residents were born in Australia and 11.8% were born in China.
Wheelers Hill
Did you know?
Named after a settler
The post office opened as Mulgrave on 1 January 1869. In 1888 it was renamed Wheelers Hill after James Wheeler, an early settler in the Dandenong area.
A park with a past
Jells Park was a piggery from the late 1930s and a United States Army storage depot during the Second World War. It opened to the public in April 1976.
Source: Wikipedia: Jells Park
A Seidler gallery
Harry Seidler designed the gallery on Jells Road, completed in 1990. It now houses the Museum of Australian Photography and the Wheelers Hill Library.
A mansion lost
The Wheelers Mansion was destroyed by fire in the late 1920s. Its site lay south of today's Wheelers Hill Library.
Property types
Wheelers Hill is mainly large detached homes.
- Houses make up 84.9% of homes, most of them family-sized.
- Flats and apartments make up 9.4%.
- Townhouses and semi-detached homes make up 5.8%.
- Size: 58.3% of homes have four or more bedrooms.
Check VicPlan for zoning and any overlays on the address before you buy.
What lenders look at in Wheelers Hill
Wheelers Hill is a large family house market. Here's what tends to come up with lenders.
Larger loan amounts
Larger loans get closer scrutiny of income, expenses and existing debts. Some lenders cap their maximum loan-to-value ratio (LVR) on bigger loans, so check how much deposit you'll need early.
Renovating or rebuilding
Some buyers update or replace older homes. Construction loans pay out in stages and need a fixed-price building contract and approved plans. Talk to us before you sign with a builder.
Overseas income
Some buyers earn part of their income overseas or are new to Australia. Lenders treat foreign income and visa status differently. Have your documents ready early.
Buying before you sell
Upsizers often need bridging finance or a sale plan. Lenders look at both properties and your peak debt. Plan the timing before you make an offer.
Postcode 3150
Wheelers Hill shares postcode 3150 with Glen Waverley. It isn't on one LMI provider's lists of excluded or single-industry postcodes.
Lender and LMI policies differ between lenders and change often. This is a general guide based on public lender and LMI information checked 3 November 2026. We can check current policy for the property you're looking at before you apply.
Buying in Wheelers Hill
In Wheelers Hill the size of the home usually sets the size of the loan. Some buyers want a ready family home. Others buy an older house to renovate or rebuild. Knowing which before you get pre-approval saves time.
First home buyers
Wheelers Hill has few small homes, so most first home buyers here are buying a house. That usually means a larger deposit or help from family. A family guarantee may help some buyers.
Get pre-approval first. Victorian duty concessions and grants follow state rules and have price caps. See our first home buyer page for current details.
Upgraders
Many Wheelers Hill buyers are upsizing from a smaller home in the area. If you're buying before you sell, ask about bridging finance early. Older homes often need updating, so budget for a building inspection and any work you plan.
Deposit and costs
On top of your deposit, allow for:
- stamp duty (transfer duty) under Victoria rules, with concessions for some first home buyers (see the State Revenue Office Victoria)
- conveyancing and legal fees
- building and pest inspections
- lenders mortgage insurance (LMI) if you borrow more than 80% of the property's value
Our calculators give you a starting figure. Stamp duty rules differ between states, so check the Victoria rules for your purchase.
Thinking about buying in Wheelers Hill?
Talk it through with a Brisbane broker before you sign a contract. We can check the property you're looking at against lender policy.
Frequently asked questions
Is Wheelers Hill mostly houses?
Yes. In the 2021 Census 84.9% of homes were separate houses and 58.3% had four or more bedrooms.
Is there a train station in Wheelers Hill?
No. Many residents use Glen Waverley station on the Glen Waverley line. Buses run along the main roads.
Can I buy in Wheelers Hill with a small deposit?
Possibly, depending on your income, the price and the lender. Some buyers use a family guarantee. Lenders mortgage insurance usually applies if you borrow more than 80% of the value.
How do I check school zones in Wheelers Hill?
Use findmyschool.vic.gov.au. Zones are set by address and can change.
Can a Brisbane mortgage broker help me buy in Wheelers Hill?
Yes. Time Home Loans is based in Brisbane and works with clients across Australia by phone and video. We don't have an office in Wheelers Hill. Lender policy is national, so the same lenders and products are available. Stamp duty, first home buyer concessions and grants follow Victorian rules. In most cases there's no broker fee to pay. Time Home Loans is paid by commission from the lender.
What costs should I budget for besides the deposit?
Victorian land transfer duty (often called stamp duty), conveyancing, building and pest inspections and lenders mortgage insurance if you borrow more than 80% of the value. The calculators on our site give you a starting figure.
General information only. This page provides general information and doesn't take into account your objectives, financial situation or needs. Consider whether it's appropriate for you and seek advice before making a decision. Market figures are a guide only and change over time. Past movements in values and rents don't predict future results.
Time Home Loans Pty Ltd ACN 161 695 012, Credit Representative 529395 is authorised under Australian Credit Licence 384324.