Toorak, 3142 The most expensive suburb close to the Melbourne CBD is the leafy suburb of Toorak. Arguably the suburb people most Australians consider to be the most expensive in Melbourne, Toorak has a median house price of $3,043,600 and is located just five kilometres from the city centre.
Victoria's 3142 postcode, which comprises Toorak and Hawksburn and sits just five kilometers south-east of Melbourne's CBD, is home to more of Australia's richest millionaires and billionaires than any other suburb in the country.
Why? Toorak is home to a wealth of smart leafy streets lined with mega mansions where many high-end corporate juggernauts, entrepreneurs and business people own a property. These people are flocking to the local amenities, high end schools, low crime rates and not to mention the spectacular city views.
The Mornington Peninsula has become a hot spot for the rich and famous, with its multimillion-dollar clifftop mansions attracting celebrities, business titans and sporting greats – who seldom ever part with their pricey pads.
Time Out has released its annual list of the 51 coolest neighbourhoods in the world, with inner north mainstay Fitzroy nabbing the highest Aussie spot on the list, coming in at #27.
1. Toorak – $5.18m. Toorak, one of Melbourne's most exclusive and affluent suburbs, is a long-standing front runner for property prices so it's no surprise to see this suburb at the top of the list yet again. Toorak is located about 5km south-east of the CBD and has a range of luxury properties on offer.
1. Braybrook — St Albans (77,300 people)
With a median house price of $4,788,300, Main Ridge is the most expensive suburb in Melbourne, despite being located 97 kilometres from the CBD. The suburb is nine kilometres from Rosebud and has a population of just 416, according to the 2021 Census.
In Melbourne, high homelessness rates are found in Dandenong about 25km from the city, as well as in Maribyrnong, Brimbank, Moreland, Darebin and Whitehorse councils.
Today, St Kilda is an area of sharp social contrast, with many homeless and other disadvantaged people living among the wealthy and fashionable who crowd its shops and cafes. The suburb is noted for its many itinerant backpackers, but also for its many long-term permanent residents.
Key points. Data from the Australian Taxation office shows the average annual incomes of residents across all Victorian postcodes. Toorak ($190,000) ranks as the wealthiest suburb.
As far back as the 1850s, slums existed in inner city Melbourne. Slum dwellers lived a squalid existence. Often, they had no bathrooms, or sewerage. They lived in ramshackle housing, with leaky roofs and holes in the walls.
The Japanese population is located throughout the Melbourne area, with many temporary Japanese residents living in middle-class suburbs. As of 2007 many high income Japanese live in Melbourne-area middle class suburbs, such as Brighton and Camberwell.
The cheapest suburb in Melbourne is Melton. It is located at the far west and has some of the most cheapest housing in the area. Where are the cheapest houses in Victoria? The cheapest houses in Victoria are located in Murtoa.
The City of Darebin is located to the north of Melbourne and has a population of about 150,000 people covering suburbs such as Bundoora, Northcote and Thornbury. Many of Darebin's residents come from Sri Lanka, India, Egypt and the Middle East. Darebin also hosts numerous community events each year.