Real Estate Southbank Vic 3006

Real Estate Market: Is Southbank VIC 3006 a Good Suburb to Buy Into?

Housing Market in Southbank

Key Southbank Metrics & Forecast to 2028

Sources: Property Listings, VIC RENTALS and Microburbs, 2000 - 2023

Field	Value	VS Melbourne	Trend
Capital Growth Forecast: Houses	Premium	Premium	Premium
Capital Growth Forecast: Houses (2-Year Outlook)	Premium	Premium	Premium
Median yield for houses	Premium	Premium	Premium
Smart median rent: All houses	$686	Top 31%	64% to Dec 2025
Smart median sale price: All houses	Premium	Premium	Premium

Housing Supply in Southbank

Southbank Real Estate Investor Report

Sample Graphic

The higher the supply score the more supply is on the market, both current and future.
Sources: ABS, GEOSPATIAL, Property Listings, PLANNING ALERTS and Microburbs, 2002 - 2023

Field	Value	VS Melbourne	Trend
Development applications	0	Bottom 38%	to 0 to Jun 2025
Developments	0.1	Bottom 22%	Data for Jul 2023
Housing Stock Quality Indicator	70.6	Top 8%	Data for May 2023
Total new residential buildings value (SA2)	Premium	Premium	Premium
Days on market: houses	Premium	Premium	Premium
Days on market: units	Premium	Premium	Premium
Number of Subdivisions	2 lots	Bottom 14%	50% to Feb 2023
Volume of houses sold in the last 30 days	Premium	Premium	Premium
Volume of units sold in the last 30 days	Premium	Premium	Premium
Stock on Market	80	Top 1%	400% to Dec 2025

Housing Stock Quality in Southbank

The higher the score, the higher the quality of the houses and units.
Sources: ABS, GEOSPATIAL, Property Listings and Microburbs, 2006 - 2023

Field	Value	VS Melbourne	Trend
Houses	0.0%	Bottom 0%	to Jan 2021
Average bedrooms - all homes	1.8	Bottom 9%	5% to Jan 2021
NBN connection: fibreoptic cable to node	8.3%	Top 16%	Data for Jun 2023

Development Restrictions in Southbank

Southbank Zoning Map

Sample Graphic

The higher the score, the more easily density can be increased.
Sources: GEOSPATIAL, TORREN, ABS and Microburbs, 2011 - 2023

Field	Value	VS Melbourne	Trend
Total area	2.1 sq km	Bottom 21%	Data for Jan 2021
Heritage overlay total area	0.3 sq km	Top 22%	Data for Jun 2023
Residential density	119 sqm per resident	Bottom 1%	Data for Jan 2021

Risk in Southbank

Southbank Risk Report

Sample Graphic

The higher the score, the more exposed households are to financial stress.
Sources: ABS, Property Listings, TORREN and Microburbs, 2006 - 2023

Field	Value	VS Melbourne	Trend
% Owner Occupied	38.8%	Bottom 0%	2% to May 2023
% Rentals	61.2%	Top 1%	1% to May 2023
Housing Affordability Index	75	Top 2%	Data for Jun 2023
Median monthly mortgage	$2,340	Top 28%	17% to May 2023
Rent Affordability Index (Houses)	70	Bottom 14%	Data for Jun 2023
Rent Affordability Index (Units)	63	Bottom 7%	Data for Jun 2023
Mortgage as a percent of income	22.7%	Top 47%	8% to Jan 2021
Mortgaged Dwellings	19.4%	Bottom 7%	9% to May 2023

Housing Demand in Southbank

The higher the score, the more demand their is for housing in the area, both current and future.
Sources: ABS, TORREN, Property Listings and Microburbs, 2004 - 2030

Field	Value	VS Melbourne	Trend
Net internal migration (LGA)	Premium	Premium	Premium
Net overseas migration (LGA)	Premium	Premium	Premium
Future Population (SA2)	26100	Top 7%	58% to Dec 2036
Historical Population (SA3)	177000	Top 5%	219% to Dec 2023
Historical population growth	Premium	Premium	Premium
Population (LGA)	241000	Top 5%	335% to Dec 2030
Population Projection (LGA)	Premium	Premium	Premium
Auction clearance rate	Premium	Premium	Premium
Proportion of distressed listings	Premium	Premium	Premium
Vacancy rate	Premium	Premium	Premium

Unit Market in Southbank

Southbank Unit Investor Report

Sample Graphic

Sources: Property Listings, VIC RENTALS and Microburbs, 2000 - 2023

Field	Value	VS Melbourne	Trend
Capital Growth Forecast: Units	Premium	Premium	Premium
Capital Growth Forecast: Units (2-Year Outlook)	Premium	Premium	Premium
Median yield for units	Premium	Premium	Premium
Smart median rent: All units	$707	Top 7%	104% to Dec 2025
Smart median sale price: All units	Premium	Premium	Premium
Unit to house ratio	67.5%	Top 48%	14% to Dec 2025

Realtors (20)

Headline	Place	Datetime
AUSTRALIA NEW HOMES	Level 2 Unit 18 51-55 City Rd
Ayres Consulting Pty Ltd	81 City Rd
Belle Property South Melbourne	151-153 Clarendon St
CT Real Estate	Suite 3 250 St Kilda Rd
Daly Property Group	Lvl 23/ 40 City Rd

Accommodation Options (49)

Headline	Place	Datetime
Adina Apartment Hotel Melbourne Southbank	99 City Rd
Apartments On The Yarra
Aria Hotel Apartments	285 City Rd
Central Equity Limited	32 Power St
Crown Metropol	Crown Entertainment Complex, 8 Whiteman St

Planning Applications: Other (80)

Headline	Place	Date
Amending the permit pursuant to Section 72 of the Planning and Environment Act 1987 by amending changes to the endorsed plans - Melbourne City Council TP-2016-981/C	83-89 Coventry Street Southbank 3006	16 Jul 2024
Amendment pursuant to Section 72 of the Planning and Environment act to plans endorsed under the permit - Melbourne City Council TP-2023-506/B	85B Queens Bridge Street Southbank 3006	13 Jul 2024
Construct and display an electronic major promotion sky sign in a Commercial 2 Zone, Design and Development Overlay pursuant to Clause 52.05 of the Planning Scheme. The application requires the following planning permission: Clause 52.05 – Construct and display of an Electronic Major Promotion Sky Sign - City of Port Phillip PDPL/00086/2024	143-145 Clarendon Street Southbank VIC 3006	13 Jun 2024
Section 32 plan generally in accordance with the accompanying plan - Streamlined Planning through Electronic Applications and Referrals S229500S	8 Cook Street, Southbank VIC 3006	21 May 2024
Construction of a multi-storey office building and a reduction in the car parking requirements within a Commercial 2 Zone, Design and Development Overlay – schedule 8 and Special Building Overlay – Schedule 2 - City of Port Phillip PDPL/00791/2023	34-36 Market Street Southbank VIC 3006	19 Apr 2024

Planning Applications: Dwellings (19)

Headline	Place	Date
Construct and display an electronic major promotion sky sign in a Commercial 2 Zone, Design and Development Overlay pursuant to Clause 52.05 of the Planning Scheme. The application requires the following planning permission: Clause 52.05 – Construct and display of an Electronic Major Promotion Sky Sign - City of Port Phillip PDPL/00086/2024	143-145 Clarendon Street Southbank VIC 3006	13 Jun 2024
Construction of a multi-storey office building and a reduction in the car parking requirements within a Commercial 2 Zone, Design and Development Overlay – schedule 8 and Special Building Overlay – Schedule 2 - City of Port Phillip PDPL/00791/2023	34-36 Market Street Southbank VIC 3006	19 Apr 2024
Construction of a twenty-six (26) storey residential building (plus a roof area), with associated car parking - Melbourne City Council TP-2024-189	36-42 Clarke Street Southbank 3006	22 Mar 2024
The use of the land for the purpose of an Education Centre in a Commercial 2 Zone (C2Z), partial demolition and buildings and works in a C2Z, Heritage Overlay (HO4) and Design and Development Overlay (DDO8), the waiver of car parking requirements and the reduction of bicycle parking requirements. Hours of operation: 8am to 10 pm, seven days a week. Maximum of 600 students at any one time. Maximum of 30 staff at any one time - City of Port Phillip PDPL/00702/2023	7-19 Ballantyne Street Southbank VIC 3006	27 Feb 2024
RA changed to DTP - Section 72 Amendment for removal of podium levels and introduction of residential apartments within this area. The amendment will result in an additional 65 dwellings within the ap - Melbourne City Council TP-2019-979/B	292-294 City Road Southbank 3006	22 Dec 2023

Planning Applications: Industrial (1)

Headline	Place	Date
Converting a warehouse into a 9B trade training facility - City of Port Phillip PDPL/00631/2022	188 Normanby Road Southbank VIC 3006	08 Sep 2022

LGA Details (1)

Headline	Place	Datetime
Local government area	Melbourne

Median Unit Sale Prices by Street (25)

Date	Median sale value	Street
06 Dec 2025	$614,200	Bale Cct
06 Dec 2025	$449,100	Balston St
06 Dec 2025	$552,000	City Rd
06 Dec 2025	$460,000	Clarendon St
06 Dec 2025	$557,400	Clarke St

Recently Sold Houses (56)

Address	Price	Bedrooms	Bathrooms	Garage spaces	Date sold	Sale Type
Unit 2302, 48 Balston St	$465,000	2.0	1.0	1.0	28 Oct 2024	On Market
Unit 408, 100 Kavanagh St	$320,000	1.0	1.0	0.0	22 May 2024	On Market
Unit 3, 67 Whiteman St	Price Withheld	2.0	1.0	1.0	14 Dec 2023	On Market
21 Miles St	$1,040,000	2.0	1.0	1.0	04 Oct 2023	On Market
19 Miles St	$945,000	2.0	1.0	1.0	29 Jul 2023	On Market

Median House Rental Prices by Street (6)

Street	Date	Median rent (per week)
Kavanagh St	06 Dec 2025	$1,702
Dorcas St	06 Dec 2025	$576
Whiteman St	06 Dec 2025	$764
Wells St	06 Dec 2025	$1,142
City Rd	06 Dec 2025	$633

Median House Sale Prices by Street (2)

Street	Date	Median sale value
Coventry St	06 Dec 2025	$2,039,000
Dorcas St	06 Dec 2025	$824,800

Percent of Renters by Street (44)

Percent of Renters	Street
81.9%	Balston St
44.4%	Chessell St
53.5%	Bale Cct
0.0%	Ballantyne St
47.8%	Clarke St

Turnover Rate by Street (42)

Turnover rate	Street	Turnover Label	Turnover Years	Year
49.1%	Dodds St	very tightly held	Every 20.4 years (very tightly held)	2025
91.2%	Clarendon St	high turnover	Every 11.0 years (high turnover)	2025
111.7%	Coventry St	very high turnover	Every 9.0 years (very high turnover)	2025
88.2%	Kavanagh St	high turnover	Every 11.3 years (high turnover)	2025
117.2%	Bale Cct	very high turnover	Every 8.5 years (very high turnover)	2025

Businesses (74)

Name	Address
Hickory	L5/68 Clarke St, Southbank VIC 3006, Australia
THIS IS AUSTRALIA CONSTRUCTION	25 Whiteman St, Southbank VIC 3006, Australia
ABD Group	Level 1/99 Queens Bridge St, Southbank VIC 3006, Australia
Marcus Group	Level 1/99 Queens Bridge St, Southbank VIC 3006, Australia
Kmercial	Level 23 HWT Tower,, 40 City Rd, Southbank VIC 3006, Australia

Recent Rental Unit Listings (100)

Address	Rent (per week)	Bedrooms	Bathrooms	Garage spaces	Date
Unit 33, 8 Wells St	$1,250	3.0	2.0	2.0	05 Dec 2025
Unit 1402, 11 Bale Circuit	$650	1.0	1.0		05 Dec 2025
Unit 41, 161 Sturt St	$675	2.0	1.0	1.0	04 Dec 2025
Unit 6207, 18 Hoff Bvd	$1,300	3.0	2.0	1.0	04 Dec 2025
Unit 203, 183 City Rd	$750	2.0	2.0	1.0	04 Dec 2025

Recent Rental House Listings (100)

Address	Rent (per week)	Bedrooms	Bathrooms	Garage spaces	Date
Unit 15, 28 Southgate Ave	$750	2	2	1	26 Nov 2025
Unit 15, 28 Southgate Ave	$750	2	2	1	26 Nov 2025
Unit 15, 28 Southgate Ave	$750	2	2	1	26 Nov 2025
Unit 15, 28 Southgate Ave	$750	2	2	1	26 Nov 2025
Unit 15, 28 Southgate Ave	$750	2	2	1	26 Nov 2025

Recently Sold Units (100)

Address	Price	Bedrooms	Bathrooms	Garage spaces	Date sold	Sale Type
Unit 1310, 33 City Rd	$520,000	2.0	2.0	1.0	05 Dec 2025	On Market
Unit 3701, 61 City Rd	$475,000	2.0	2.0		02 Dec 2025	On Market
Unit 3701, 61 City Rd	$475,000	2.0	2.0		02 Dec 2025	On Market
Unit 3701, 61 City Rd	$475,000	2.0	2.0		02 Dec 2025	On Market
Unit 3701, 61 City Rd	$475,000	2.0	2.0		02 Dec 2025	On Market

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