south melbourne

3205, Victoria

Real Estate & Property Information

Median
Price Rank
46

south melbourne Suburb Profile & Review

South Melbourne is home to some of Melbourne's most beautiful Victorian terrace houses. After its gentrification in the 1980s, the suburb was transformed into a sought-after area due to its a superb location on the border of Albert Park. The beach is just a five minute drive away and three tram lines provide easy access to the CBD and St Kilda.

The South Melbourne Market is the oldest continuing market in Melbourne. Open on Wednesday and from Friday to Sunday, it is also home to the Style After Dark Thursday night markets, which run from the start of March to mid-April.

Clarendon Street is known for its array of shops and cafes, bars, restaurants and art galleries. St Ali's makes some of Melbourne's (and therefore Australia's) best coffee, and serves inventive and delicious food. South Melbourne is not only known for its culinary delights, but its love of sport. South Melbourne Football Club is one of Australia's most successful Victorian Premier League soccer teams, and its colours of blue and white reflect the area's historically large Greek population.

south melbourne Demographic Data

$ 925,000 Median House Price

9 Minutes Average Commute

37 Median Age

9,317 Population

51.14 % Female

48.86 % Male

2244 NO OF FAMILIES

1.6 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in south melbourne, Victoria.

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south melbourne Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

south melbourne Median House Prices

  • 2008 $ 750,000
  • 2009 $ 825,000
  • 2010 $ 935,000
  • 2011 $ 985,000
  • 2012 $ 925,000

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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south melbourne 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in south melbourne have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term south melbourne property price predictions.

south melbourne Market Property Types

  • 19 % Seperate House
  • 30 % Semi Detached
  • 49 % Flat or Unit
  • 2 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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south melbourne Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

south melbourne Income & Mortgage Stats

  • $ 1,668 Median Weekly Household Income
  • $ 2,500 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in south melbourne

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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south melbourne Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

south melbourne Sold Property Prices

south melbourne Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

south melbourne Related Local Blog Posts

Immigrants Are Pushing House Prices Higher

Much of Australia’s history and success has been built on the back immigration but are the current intake levels too high and how are they impacting prices?

Hangover Stock Brings About Buying Opportunities

This week Melbourne’s auction market has been tested with over 1200 properties reportedly going under the hammer over the weekend. Although both Domain and the REIV show clearance rates at nearly 70%, this on the surface seems good but in actual fact is 10% down for the same time last year. Speaking to a number of agents around town confirms….

Where is The Property Market Heading?

There has been a lot of “white noise” surrounding the Sydney and Melbourne property market over the last few months and it has taken me a while to determine which way things were actually going to go. Is the Australian property market heading down the gurgler or is this just a glitch?

Property Market Trends in Melbourne Which Could Affect Prices

In this final edition we look at what how the Melbourne property market has fared and what whether we are likely to see any changes in property prices, demand for property and economic drivers.

New Research Shows Consumers Who Don’t Own A Home Could Be Worse Off in Retirement

New Research released last week by Roy Morgan shows that people who don’t own a home have become worse off in terms of their net wealth and are jeopardising their retirement.

Is Australian Housing Heading for a Hard Landing or a Financial Cliff?

From my experience and talking with real estate agents the Melbourne market has softened no doubt, but are we heading towards a financial cliff?

south melbourne Restaurants

  • Wayside Inn446 City Rd south melbourne VIC 320503 9696 2192
  • Taco Bill375 Clarendon Streetsouth melbourne VIC 320503 9690 2077
  • Sweet Lemon Thai Cuisine29 York St south melbourne VIC 320503 9078 8527

south melbourne Cafes

  • Clement Coffee Roasters116-136 Cecil St south melbourne VIC 320503 9209 6295
  • CheekyChinos145 Cecil Streetsouth melbourne VIC 320503 9077 6492
  • Sidearm Cafe200 Normanby Roadsouth melbourne VIC 320504 1978 9876

south melbourne Schools

  • Galilee Primary School301-319 Bank Streetsouth melbourne VIC 3205(03) 9699 2928Catholic Primary School
  • Montague Continuing Education Centre100 Montague Streetsouth melbourne VIC 3205(03) 9690 3535Specialist School

south melbourne Childcare

  • Clarendon Children's Ctr Co-op410 Clarendon Streetsouth melbourne VIC 3205
  • Coventry Child Care Ctr328-332 Coventry Stsouth melbourne VIC 3205
  • Dot 2 Dot Early Learning Centre77 Park Stsouth melbourne VIC 3205

south melbourne Kindergarten and Preschools

  • Clarendon Children's Ctr Co-op410 Clarendon Streetsouth melbourne VIC 3205
  • Lilian Cannam Kindergartensouth melbourne VIC 3205
  • South Melbourne Mission Free Kinder332 Park Stsouth melbourne VIC 3205

south melbourne Sporting Centres and Clubs

  • Trugosouth melbourne VIC 3205

Find out How Much your House is Worth in south melbourne

Request a free market Basic Report for south melbourne to get a general idea of property prices in your area, or a more specific CMA Report for the property you own.

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