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Melbourne

Victoria 3000
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Strap yourself in for the caffeine-fuelled ride of your life.

People

The buzz of the city is honey to young, independent people who love everything on their literal doorstep, but free spirits of all ages call this city home.

Lifestyle

Want everything on your doorstep? Melbourne’s CBD is your doorstep. Immerse yourself in boutique shopping, hidden bars, hip restaurants, theatre, art – the works.

Homes

Compact and creative, Melbourne’s CBD is a stylish mix of brand new apartment complexes and handsome, older buildings hiding smart digs within.
Melbourne has 784 properties available for rent and 503 properties for sale. The median unit price in Melbourne last year was $435,000. If you are looking for an investment property, consider houses in Melbourne rent out for $575 PW with an annual rental yield of 2.1% and units rent for $530 PW with a rental yield of 6.3%. Based on five years of sales, Melbourne has seen a compound growth rate of 19.1% for houses and -2.4% for units.
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Median property price

For more information on what exactly a median price means, have a read of this article on our Blog
HouseUnitsTrend
buy
no data
rent
$575 PW
(Rent data last updated
Sep 18th, 2019)
buy
$435,000
(Price data last updated
Sep 4th, 2019)
rent
$530 PW
(Rent data last updated
Sep 18th, 2019)
How this was calculated & copyright information
Median House Price
Median Price: The price of a property that falls in the middle of the total number of houses sold over a period of time, no data available as less than 10 sales have been recorded from 1 Sep 2018 - 04 Sep 2019.
  • 2 Bedroom (no data - less than 10 sales).
  • 3 Bedroom (no data - less than 10 sales).
  • 4 Bedroom (no data - less than 10 sales).
Median House Rent
The advertised weekly rent of a property that falls in the middle of the total number of houses listed over a period of time, based on 53 house listings from 1 Sep 2018 - 18 Sep 2019.
  • 2 Bedroom price is based on 31 house listings.
  • 3 Bedroom (no data - less than 10 listings).
  • 4 Bedroom (no data - less than 10 listings).
Data supplied by realestate.com.au
Median Unit Price
Median Price: The price of a property that falls in the middle of the total number of units sold over a period of time, based on 452 unit sales from 1 Sep 2018 - 04 Sep 2019.
  • 1 Bedroom price is based on 180 unit sales.
  • 2 Bedroom price is based on 228 unit sales.
  • 3 Bedroom price is based on 36 unit sales.
Data supplied by Hometrack Australia
Median data for 3 bedroom unit configurations are calculated off 3 or more bedrooms.
Median Unit Rent
The advertised weekly rent of a property that falls in the middle of the total number of units listed over a period of time, based on 5522 unit listings from 1 Sep 2018 - 18 Sep 2019.
  • 1 Bedroom price is based on 2304 unit listings.
  • 2 Bedroom price is based on 2625 unit listings.
  • 3 Bedroom price is based on 262 unit listings.
Data supplied by realestate.com.au

The median sales information is current as at the publication date only. The median sales information is based on Third Party Content (within the meaning of our website terms of use). realestate.com.au Pty Ltd does not make any warranty as to the accuracy, completeness or reliability of the information or accept any liability arising in any way from any omissions or errors. The information should not be regarded as advice or relied upon by you or any other person and we recommend that you seek professional advice before making any property decisions.

The State of Victoria owns the copyright in the Property Sales Data and reproduction of that data in any way without the consent of the State of Victoria will constitute a breach of the Copyright Act 1968 (Cth). The State of Victoria does not warrant the accuracy or completeness of the Property Data and any person using or relying upon such information does so on the basis that the State of Victoria accepts no responsibility or liability whatsoever for any errors, faults, defects or omissions in the information supplied.
Comparison of these prices with Victoria
With a median unit price of $435,000, Melbourne is lower than Victoria's median unit price of $506,000. When it comes to renting, the Melbourne median unit rental price per week is $530 which makes renting more expensive than Victoria's average of $410.
Data supplied by Hometrack Australia

The median sales information is current as at the publication date only. The median sales information is based on Third Party Content (within the meaning of our website terms of use). realestate.com.au Pty Ltd does not make any warranty as to the accuracy, completeness or reliability of the information or accept any liability arising in any way from any omissions or errors. The information should not be regarded as advice or relied upon by you or any other person and we recommend that you seek professional advice before making any property decisions.

The State of Victoria owns the copyright in the Property Sales Data and reproduction of that data in any way without the consent of the State of Victoria will constitute a breach of the Copyright Act 1968 (Cth). The State of Victoria does not warrant the accuracy or completeness of the Property Data and any person using or relying upon such information does so on the basis that the State of Victoria accepts no responsibility or liability whatsoever for any errors, faults, defects or omissions in the information supplied.

Supply and demand in Melbourne

The level of competition in a suburb can affect prices and availability.
0
Visits per property
0
Visits per property
Melbourne
Average of VIC
How this was calculated
Supply and Demand data.

Demand is calculated as the average number of visits per listing per month over the last 12 months to realestate.com.au/buy that include at least one property details page view in Melbourne, VIC 3000. Supply is calculated as the average number of property listings per month that have been viewed at least once that month on realestate.com.au/buy in Melbourne, VIC 3000 over the last 12 months.

The level of demand for individual listings varies. The data above shows the average for the suburb. realestate.com.au makes no claim about the statistical significance nor accuracy of the data. Please note: This information is based on realestate.com.au data. The purpose is to give buyers and sellers an indication of interest in properties in the suburb, based on that data. It is not a definitive representation of market supply and demand.

Latest Melbourne property listings

The lifestyles and people of Melbourne

The lifestyle of a suburb is often influenced by who lives there.
Top 3Details

Independent Youth

64.0%

Maturing & Established Independence

13.1%

Older Independence

6.3%

64.0%
Independent Youth
13.1%
Maturing & Established Independence
6.3%
Older Independence
5.0%
Elderly Singles
4.2%
Older Couples & Families
2.5%
Maturing Couples & Families
1.7%
Established Couples & Families
1.6%
Young Families
1.6%
Elderly Couples
0.1%
Elderly Families
64.0%
Independent Youth
13.1%
Maturing & Established Independence
6.3%
Older Independence
5.0%
Elderly Singles
4.2%
Older Couples & Families
2.5%
Maturing Couples & Families
1.7%
Established Couples & Families
1.6%
Young Families
1.6%
Elderly Couples
0.1%
Elderly Families
How this was calculated and classification information
About this data
Independent Youth make up the largest percentage of people living in Melbourne followed by Maturing & Established Independence and Older Independence.
The statistics above have been sourced from Mosaic demographic data that is the copyright property of Experian Australia Pty Limited (or its licensors).
Classification Details
Young Families - Families, Extended Families and Single Parents under 35
Independent Youth - Couples, Singles and Homesharers under 35
Maturing Couples & Families - Families, Couples, Extended Families and Single Parents aged 35-44
Maturing Independence - Singles and Homesharers aged 35-54
Established Couples and Families - Families, Couples, Extended Families and Single Parents aged 45-54
Older Couples & Families - Families, Couples, Extended Families and Single Parents aged 55-64
Older Independence - Singles and Homesharers aged 55-64
Elderly Families - Families, Extended Families and Single Parents 65 and over Empty Nesters - Couples 65 and over
Elderly Singles - Singles and Homesharers 65 and over

Artful, energetic and stylish: life in Melbourne’s city centre is a glorious whirl of renowned restaurants, epic gardens, stadiums, bars and hidden delights.

The beating heart of the city and a magnet for everyone who surrounds it, Melbourne’s CBD is a cultural wonderland to call home. If you’ve got an insatiable appetite for street art, great restaurants, rooftop bars, tiny cafes, film festivals, Victorian architecture, historic markets, department stores and designer boutiques, you’ll never go hungry in Melbourne.

People in Melbourne

With its proximity to universities and every business in town, the people who choose to live in the CBD are, by and large, an independent bunch who love the unbeatable convenience of a city pad for getting to work or lectures.

The Melbourne Lifestyle

Melbourne’s easy grid layout and its plethora of beautiful gardens means living and working in the city can be an easy, liveable blend. Get your fresh produce at Queen Victoria Market, picnic in the Royal Botanic Gardens, swim at the City Baths – city life can still have that neighbourly feel when you’re not at the theatre, gallery, Etihad Stadium or the latest restaurant or bar.

Being the bullseye of the transport system means getting to and from town is incredibly convenient, and being home to Victorian College of the Arts, Melbourne University and RMIT makes living in the city perfect for students.

Melbourne Homes

Apartment living is the name of the game in Melbourne’s CBD – it’s just a matter of picking the style you like.

New, designer buildings flank major corners where you can get expansive views and the convenience of gyms and rooftop gardens, while older buildings in iconic street art laneways contain neat little pads with bags of charm.

If you thrive on A-grade convenience and a lively atmosphere sountracked by tram bells and bustle; if you dig sleek and compact apartments close to work; if you approach dining as a multiple choice question; and if you love nothing more than to soak up a dose of culture, hightail it to the CBD.

Similar places to Melbourne in

Love what Melbourne has to offer? You may also be interested in taking a look at some of the following areas.
How similarity was identified among suburbs
Experian Pty Ltd classifies Australian households into one of 49 Mosaic Types based on geo-demographic segmentation. realestate.com.au calculates the composition of household Mosaic Types within each suburb, and compares this composition across suburbs to determine the similarity between suburbs. The suburbs with the most similarity to Melbourne, VIC 3000 are shown. No other factors are considered.

Mosaic data supplied by Experian Australia Pty Ltd.
Mosaic data is the copyright property of Experian Australia Pty Ltd (or its licensors).

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