South Yarra, a vibrant and cosmopolitan suburb of Melbourne, Victoria, is located approximately 4 km southeast of Melbourne’s Central Business District, within the City of Stonnington.
Known for its trendy lifestyle, high-end shopping, and dining, South Yarra blends historic charm with modern urban living.
Table of Contents
Demographic Profile
- Population: South Yarra is known for its diverse and dynamic population. According to the 2021 census, the population of South Yarra is 25,028.
- Predominant Age Group: The suburb is particularly popular among young professionals and singles, mainly in the 20-39 age group.
- Median Household Income: Generally higher than the Melbourne average, reflecting the suburb’s affluent nature.
- Occupancy: A mix of homeowners and renters, with a significant proportion of high-income singles and couples.
Real Estate and Growth
- Median House Prices: The median house price in South Yarra is around AUD 1,800,000.
- Median Unit Prices: The median price is approximately AUD 600,000 for units.
- Rental Market: The median rent for houses is about AUD 700 per week, and for units, it’s around AUD 450 per week.
- Market Trends: South Yarra has seen substantial growth in property values due to its prime location, lifestyle offerings, and appeal to a wealthy demographic.
Education and Lifestyle
- Schools: Several prestigious schools, including Melbourne High School, serve the area.
- Local Vibe: Known for Chapel Street, a hub for fashion, nightlife, and fine dining. The suburb offers a blend of luxury and street culture.
- Community Insights: Residents enjoy a high-quality lifestyle with excellent access to shopping, dining, and cultural activities. The suburb is also known for its picturesque streets and historic architecture.
Transportation
- Public Transport: Exceptionally well-served by public transport, including South Yarra Station and multiple tram routes.
Notable Features
- Shopping and Dining: Chapel Street and Toorak Road are famous for high-end shopping and diverse dining options.
- Recreational Areas: The suburb is close to the Royal Botanic Gardens, Fawkner Park, and along the Yarra River, offering abundant green spaces and recreational activities.
South Yarra is a prestigious and lively suburb favoured for its luxury lifestyle, excellent amenities, and proximity to the city centre. It’s particularly appealing to young professionals and affluent singles or couples looking for an energetic and upscale living environment. The suburb’s real estate market reflects its desirability, with high property values and a competitive rental market.
