Toorak

Toorak is an affluent suburb 5 km southeast of Melbourne’s Central Business District in Stonnington. Known for its opulent homes and high-end lifestyle, Toorak is one of Melbourne’s most prestigious and sought-after suburbs.

Demographic Profile

• Population: Toorak is home to a population that values luxury and privacy, with a significant representation of established families, professionals, and retirees. According to the 2021 census, the population of Toorak is 12,817.
• Predominant Age Group: The area is popular among the older age groups, particularly those over 40, reflecting its status as an established and stable community.
• Median Household Income: Toorak has one of Melbourne’s highest median household incomes, indicative of its affluent demographic.

Real Estate and Growth

• Median House Prices: The median house price in Toorak is among the highest in Melbourne, often exceeding AUD 4,000,000.
• Median Unit Prices: Apartments and units in Toorak also command high prices, with a median of around AUD 1,200,000.
• Rental Market: The median rent in Toorak is relatively high due to its desirability, with houses renting for approximately AUD 1,500 per week and units for around AUD 650 per week.
• Market Trends: Toorak has consistently experienced substantial growth in property values, underlining its status as a highly desirable location.

Education and Lifestyle

• Schools: The suburb is close to some of Melbourne’s finest schools, including Toorak College and Loreto Mandeville Hall.
• Local Vibe: Toorak is known for its luxurious lifestyle, high-end shopping boutiques, and gourmet dining options.
• Community Insights: Residents enjoy a sense of exclusivity and privacy with quiet, tree-lined streets and meticulously maintained gardens.

Transportation

• Public Transport: Toorak is well connected via public transport, including trams and buses, offering convenient access to the city and surrounding areas.

Notable Features

• High-End Shopping and Dining: Toorak Village is a luxury shopping and dining centre that attracts visitors all over Melbourne.
• Prestigious Location: The suburb is synonymous with wealth and prestige, making it a top choice for Melbourne’s elite.
• Recreational Areas: Toorak features beautiful parks and gardens, contributing to its serene and upscale atmosphere.

Toorak is synonymous with luxury and exclusivity, making it a highly desirable location for those seeking an upscale lifestyle in Melbourne. With its beautiful homes, high-end amenities, and proximity to some of the best schools in the city, Toorak continues to be a top choice for affluent families and professionals.