South Melbourne vs Southbank
House prices, rent and lifestyle, side by side. Every figure shows its period and source.
Bars scale each row to its largest figure.
| Suburb | South MelbournePort Phillip | SouthbankMelbourne |
|---|---|---|
| Price & rent | ||
| Median house priceValuer-General Victoria | $1,700,000 (calendar year 2025) | not available |
| Median unit price | $622,500 (calendar year 2025) | $580,000 (calendar year 2025) |
| Median weekly rentDFFH / Census 2021 | $650/wk | $680/wk |
| Gross rental yieldweekly rent x 52 / house price, before costs | 1.99% | not available |
| People | ||
| PopulationABS Census 2021 | 11,548 | 22,631 |
| SEIFA advantage decile | 6/10 | 8/10 |
| Housing | ||
| Houses | 5% | 0% |
| Townhouses | 36% | 1% |
| Apartments/units | 59% | 98% |
| Transport | ||
| Distance to Melbourne CBD | 2.3 km | 1.4 km |
| Train stations | 0 | 0 |
| Tram stops | 29 | 25 |
| Planning & risk | ||
| Flood overlayVicmap Planning | 14% | 60% |
| Bushfire overlayVicmap Planning | 0% | 0% |
| Heritage overlayVicmap Planning | 56% | 17% |
| Schools (zoned government) | ||
| Primary | Albert Park Primary School, Middle Park Primary School, Port Melbourne Primary School, South Melbourne Park Primary School, South Melbourne Primary School, South Yarra Primary School | Carlton Gardens Primary School, Docklands Primary School, South Melbourne Park Primary School, South Melbourne Primary School |
| Secondary | Albert Park College, Port Melbourne Secondary College, Prahran High School | Albert Park College, Port Melbourne Secondary College, Prahran High School |
| Safety | ||
| Recorded crime (council area)Crime Statistics Agency Victoria, council-wide | Higher than most areas | Higher than most areas |
Key differences
- Southbank is higher on population (by about 96%).
- Southbank is higher on SEIFA advantage/disadvantage decile (by about 2 deciles).
- Southbank is higher on flood overlay share (by about 46 percentage points).
- South Melbourne is higher on heritage overlay share (by about 39 percentage points).
- Southbank is higher on recorded crime rate (council area) (by about 69%).
Median house price over time
South Melbourne
The median house price in South Melbourne was $1,700,000 in calendar year 2025 (Valuer-General Victoria); the median unit price was $622,500 in calendar year 2025. The median unit price in Southbank was $580,000 in calendar year 2025 (Valuer-General Victoria).