Thinking about buying in Southbank? Now could not be a better time, with 50444 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $814,000 with prices in this suburb ranging from $25,000 to $17,405,000. Southbank is located fairly close to the coast at just 0Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.
Household Makeup
| Median Weekly Rent | $439.65 |
| Median Monthly Mortgage | $1957.25 |
| Median Persons Per Bedroom | 1.00 |
| Average Household Size | 2.00 |
| Average Age | 32.30 |
| Average Income | $1206.75 |
| Average Cars Per Dwelling | 0.73 |
| Average Properties Within 50M | 1453 |
Housing Stock
Average Property Prices
| 1 Bed $578,000 |
| 2 Bed $770,000 |
| 3 Bed $1,446,000 |
| 4 Bed $3,138,000 |
Southbank Real Estate Market Outlook
Consistent high demand relative to supply is a key feature in Southbank driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. High average incomes in Southbank ensure a focus on quality with a commensurate high entry price under constant demand. Competition for available quality housing is intense with multiple offers likely to be made in excess of asking prices. The high percentage of professional people in Southbank classifies the area as "gentrified". This implies high demand for quality housing, generally of larger than average size. Price growth is ensured even where the state affordability index is negatively impacting other areas. High density population in Southbank requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. High industry presence in the wider area is a double-edged sword. While local employment options are high, the presence of industrial buildings may negatively impact lifestyle perception. Demand from first home buyers and investors however ensures good price growth.
Southbank is a suburb within the centre of Melbourne, Victoria. Bordered to the north by the Yarra River, Southbank was formerly primarily populated by industrial developments, but in the early 1990s a major urban renewal program was implemented. Today, Southbank is a metropolis of high-rise accommodation, office space and entertainment, containing Australia’s tallest tower, the Australia 108. This shift has led to Southbank becoming one of the primary business centres within the region of Greater Melbourne, and serves as the site for the headquarters of a number of large corporations. Southbank Promenade is a major centre for entertainment and commerce, as is the Southgate Restaurant and Shopping precinct.
Southbank’s transformation from industrial area to residential hub has been incredibly rapid, leading to an immense rise in population over the past decades, as well as a huge boost to the area’s economy. Located just 1km from the central business district of Melbourne, Southbank is incredibly conveniently located and indeed is seen by many as an extension of the centre of Melbourne following its recent growth and development. The commercial venues, high-end housing and beautiful urban views make Southbank a sought-after suburb full of opportunity.
Units for sale Southbank
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Local Schools
Victorian College Of The Arts Secondary School
South Melbourne Primary School
Hester Hornbrook Academy
Montague Continuing Education Centre
Melbourne Grammar School
Galilee Regional Catholic Primary School
MacRobertson Girls High School
Ozford College
Port Phillip Specialist School
Albert Park Primary School
(While the above schools are located with the suburb of Southbank there may also be nearby schools whose catchments cover this suburb)Local Crime Rate
Incidents Trend State Average
Southbank weather - Average Local Climate by month
| (mm) RAIN | Min (°C) TEMP | Max (°C) TEMP | Min (%) HUMIDITY | Max (%) HUMIDITY | (m/sec) WIND | (MJ/sq m) SOLAR | |
|---|---|---|---|---|---|---|---|
| Jan | 1.5 | 16.4 | 27.0 | 42.8 | 86.8 | 2.9 | 23.8 |
| Feb | 1.0 | 15.9 | 25.8 | 44.4 | 86.5 | 2.7 | 20.3 |
| Mar | 1.1 | 14.5 | 24.1 | 45.4 | 88.1 | 2.5 | 15.6 |
| Apr | 2.0 | 12.1 | 20.8 | 48.0 | 90.9 | 2.4 | 10.6 |
| May | 1.6 | 10.0 | 17.7 | 52.3 | 89.4 | 2.9 | 7.8 |
| Jun | 1.3 | 7.7 | 15.0 | 59.8 | 93.7 | 2.5 | 6.9 |
| Jul | 1.3 | 7.8 | 14.4 | 56.9 | 89.5 | 3.3 | 7.4 |
| Aug | 1.6 | 7.8 | 15.1 | 51.2 | 89.3 | 3.0 | 10.0 |
| Sept | 1.4 | 9.3 | 17.7 | 46.1 | 88.9 | 3.1 | 14.0 |
| Oct | 1.4 | 11.1 | 21.1 | 42.8 | 89.3 | 3.2 | 18.3 |
| Nov | 1.8 | 12.5 | 22.4 | 43.4 | 88.6 | 2.9 | 20.8 |
| Dec | 2.0 | 14.6 | 24.8 | 43.5 | 88.6 | 2.8 | 24.0 |
source: Australian Government Bureau of Meteorology
Internet Speed
Download 25 Mbps / Upload 5 MbpsNearby Suburbs
Public Transport
Stop 117: York Street - Less than 1 KM
Stop 116: City Road - Less than 1 KM
Stop 116: City Road - Less than 1 KM
Stop 115: Casino/Southbank - Less than 1 KM
Stop 18: Grant Street - Less than 1 KM
Stop 18: Grant Street - Less than 1 KM
Stop 19: Miles Street - Less than 1 KM
Stop 19: Miles Street - Less than 1 KM
Stop 126: City Road - Less than 1 KM
Stop 126: City Road - Less than 1 KM
General Points of Interest
Hall's Taekwondo Centre - Less than 10 KM
Green Acres Golf Club - Less than 10 KM
Trinity College - Less than 5 KM
Como Centre - Less than 5 KM
Admiral Creswell Memorial - Less than 5 KM
Melbourne Cricket Ground - Less than 2 KM
Olympia Gymnasium - Less than 2 KM
Centenary Bridge Pillar - Less than 5 KM
Altona Badminton Centre - Less than 10 KM
Flemington Grandstand - Less than 10 KM
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