Southbank: $590k median unit price, plus flood, zoning and school-zone checks
Southbank median unit price: $590,000 in the Jan–Mar 2026 quarter, from 237 sales (Valuer-General Victoria), down 1.7% on the Jan–Mar 2025 quarter. House sales in Southbank are too few for Valuer-General Victoria to report a reliable median. Median rent: $680 a week (DFFH Rental Report, year to Sep 2025). Postcode 3006.
What stands out: Part of Southbank is under a Public Acquisition Overlay (land reserved for a future public work); part of Southbank is under an Environmental Audit Overlay (potentially contaminated land) (Vicmap Planning).
Page updated · market data to Mar 2026
- Zoning: mostly Capital City zone (CCZ3), 31% of the land
- Planning change: new overlays of 3 types since 2017, latest in 2026 (details)
- School zones: parts of Southbank are zoned for Carlton Gardens Primary School and Docklands Primary School (+2 more) (primary); Albert Park College and Port Melbourne Secondary College (+1 more) (secondary)
- Getting there: 5 min to Southbank by public transport (modelled)
- Unit median
- $590,000
- Mar qtr 2026 · down 1.7% on Mar qtr 2025
- Higher than 32% of the 319 Greater Melbourne suburbs with a reliable unit median · 237 sales in the quarter
- Valuer-General Victoria
- Median rent
- $680/wk
- year to Sep 2025
- Higher than 95% of the 484 Greater Melbourne suburbs with a reliable rent figure · from 4,333 leases
- DFFH Rental Report
- Planning risk
- Flood 60% Very highBushfire 0% Very lowHeritage 17% Moderate
- share of suburb land area
- 5 suburb-specific overlays to check
- Vicmap Planning
- Getting around
- 0.8 km to nearest station
- 5 min to Southbank by public transport (modelled)
- 4 zoned primary, 3 secondary schools
- PTV timetable data · Delora commute model · Victorian Department of Education school zones
Southbank is a suburb with a young population — median age 31, more socio-economically advantaged than most areas on the ABS's SEIFA index. Housing is mixed, with a meaningful share of apartments and units (around 98%) alongside houses. The area is good for café and shop density nearby. It's close to the city and well served by tram, though not by train. House sales here are too infrequent for a reliable median — see the unit and land figures below.
Ready to look at a specific property here? See the due diligence hub for what to verify before you sign.
Scope: Victoria, Australia. Suburb data here is Victorian (state valuer, rental, planning and school records); Greater Melbourne comparison group.
In this profile
- Planning and riskZones, overlays, flood and bushfire, and what is planned nearby, with an address check.
- Prices and rentsMedian prices and rents, how they have moved, and sales volume.
- SchoolsThe government school zones that cover the suburb.
- Living hereTransport, commute times, who lives here and the suburbs nearby.
- Before you buyThe checks every purchase needs, common questions and guides.
Is Southbank in a flood, bushfire or heritage area?
Roughly 17% of Southbank is covered by a Heritage Overlay, so period character is common and some properties carry real renovation restrictions. It also carries meaningful flood-overlay coverage (about 60% of the suburb).
Suburb-wide shares of the land, not a check of any one address.
Flood-related overlays can add building rules and raise insurance cost.
Share of the suburb. Source: Vicmap Planning · Verify this address
If it applies it adds bushfire construction requirements (a BAL rating) and cost.
Share of the suburb. Source: Vicmap Planning · Verify this address
No part of Southbank is in a designated bushfire prone area. That is the building system’s map, not proof that bushfire can’t reach the suburb.
Share of the suburb. Source: Designated Bushfire Prone Area (DataVic) · Verify this address
Changes to the outside of a building, and demolition, need council approval. 46 named overlay areas (HO4, HO1234, HO910 +43 more) — oldest gazetted 1999.
Share of the suburb. Source: Vicmap Planning · Verify this address
On summer mornings in 2017–18 the ground surface across Southbank averaged 7.7 °C above the non-urban baseline, cooler than 70% of metropolitan Melbourne suburbs. (Clean Air and Urban Landscapes Hub, for the Victorian Department of Environment, Land, Water and Planning, verified 23 Oct 2026) Tree cover was 8.3%, less tree cover than 75% of these suburbs.
It measures the surface, not the air temperature, and is a guide to exposure, not a forecast. (Clean Air and Urban Landscapes Hub, for the Victorian Department of Environment, Land, Water and Planning, verified 23 Oct 2026) Streets vary: Address Check shows the figure for an address.
Averaged over the suburb’s mesh blocks. Source: Urban Heat Islands and Urban Vegetation 2018 (DataVic)
Worth checking in Southbank
Public Acquisition Overlay
Part of Southbank is reserved for a future public work (e.g. a road or rail project) under a Public Acquisition Overlay — land it covers can be compulsorily acquired by the authority. Check whether this specific property is affected before you commit.
Potentially contaminated land (EAO)
An Environmental Audit Overlay applies to part of Southbank — usually former industrial or commercial land. A satisfactory environmental audit can be required before it’s used for a home; confirm whether the property sits within it.
Large apartment pipeline
About 10,102 new apartments are in the development pipeline across Southbank. A big incoming supply of similar stock can weigh on unit prices and rents — scrutinise the building’s owners-corporation and how it compares with the other new projects nearby.
Possible Heritage Overlay
Around 17% of Southbank is heritage-overlaid. Verify whether this parcel is affected — it limits what you can change and adds permit steps to any renovation.
Flood / inundation overlay risk
Roughly 60% of Southbank carries a flood-related overlay. Confirm the land isn’t in a Land Subject to Inundation Overlay (LSIO) or Special Building Overlay (SBO) — both affect insurance, build height and what you can construct.
Zoning mix and building controls
Land use across the suburb (planning zones)
- Zoning
- Public / Parks
- mostly Capital City Zone – Schedule 3 (CCZ3) · 31% of the suburb
Planning overlays that can affect building, renovating or removing vegetation somewhere in Southbank — confirm whether any apply to the specific address.
- Design & Development Overlay — height, setback or design rules on new building
- Development-contributions levy — new development pays an infrastructure contribution
Planning changes in Southbank: 3 recorded since 2017
Planning controls on land in Southbank have changed since 2017. Each row below is one gazetted amendment — a batch of parcels changed together in the same notice, not a single lot — the kind of thing that moves land value and that portals don’t show.
Source: Vicmap Planning Scheme History (2017–present); parcel-level zone & overlay changes grouped by suburb, zone transition and gazettal batch. A suburb-level record — confirm the specific parcel. See how Melbourne’s zoning changed over the decade →
- Suburb
- Heritage
- Flood
Layers on this map, as a table
| Layer | Share of suburb | Source |
|---|---|---|
| Suburb boundary | The whole suburb | ABS SAL 2021 |
| Heritage overlay | 17% | Vicmap Planning |
| Flood overlay | 60% | Vicmap Planning |
Overlay colours reflect how much of the suburb an overlay covers — green under ~8%, amber ~8–20%, red above 20%. Public-acquisition, contamination (EAO) and floodway overlays are listed above under "Worth checking" wherever they apply, because even a small area can include a specific property. Source: Vicmap Planning. What do these terms mean? · How to verify planning controls for an address
What do homes cost in Southbank?
Market pulse: is Southbank busier or quieter than a year ago?
VGV sales to Mar 2026 · DFFH rents to Sep 2025 · ABS approvals to Aug 2026
Much the same as a year ago The median unit price changed −1.7% on the same quarter a year earlier (Jan–Mar 2026 quarter).
Prices are much as they were a year ago. The suburb trend won't tell you much about one home: compare it with recent sales of similar homes nearby. Is this price reasonable? →
| Measure | Change | What it's based on |
|---|---|---|
| Unit prices | −1.7% · about the same | Median unit $590,000 in the Jan–Mar 2026 quarter (237 sales), against $600,000 a year earlier (237 sales). The quarter before: 0.0%. |
| Rents (all homes) | +4.6% · rising | Median $680 a week for new leases in the year to Sep 2025, against $650 a year earlier. |
| New leases | +1.5% · about the same | 4,349 new lettings in the year to Sep 2025, against 4,283 a year earlier. |
| New homes approved (council) | +51.1% · more | 4,741 dwellings approved across the council Sep 2025 to Aug 2026, against 3,137 in the 12 months before. |
What sales volume tells you → Reading rental demand →
Among the 8 other Melbourne suburbs with a comparable units figure for that quarter, 4 changed less and 4 changed more. Across the 137 Victorian suburbs on Delora with a comparable figure, the middle change was +3.9%. Over 5 years the calendar-year median unit price went from $593,000 (2020) to $580,000 (2025), −2.2% or about −0.4% a year.
Checking an asking price in Southbank
A suburb median is the middle sale, not the value of any one home. Here, the middle unit sale in the Jan–Mar 2026 quarter was $590,000 (237 sales): half sold for more, half for less, so a price above it isn't overpaying on its own. It's a gap the comparable sales should explain, through land size, condition or position.
- Ask the agent for the Property Price Statement (a listing from before the change may still carry a Statement of Information (Consumer Affairs Victoria, verified 27 Sep 2026)). It gives an indicative price and the three most comparable sales (Consumer Affairs Victoria, verified 30 Jul 2026), and since it replaced the Statement of Information in the 2026 underquoting reform it also lists the bedrooms, bathrooms, floor area and land size of each comparable home (Consumer Affairs Victoria, verified 27 Sep 2026).
- Check those sales really are comparable: a similar standard of home, sold within 2 km in the last 6 months in metropolitan Melbourne, or within 5 km in the last 18 months elsewhere (Consumer Affairs Victoria, verified 30 Jul 2026).
- An advertised price is a guide only, and a home selling above it isn't by itself proof of underquoting (Consumer Affairs Victoria, verified 30 Jul 2026).
What open data can't tell you
Auction clearance rates, days on market, the number of homes for sale and how far sellers drop their price are not published as open government data. They come from private listing and data companies under paid licences, so Delora doesn't show them. For a home you're looking at, ask the agent how long it has been listed, whether it was passed in at auction, and what its first price guide was.
How the market pulse is worked out
Prices compare the latest quarterly median with the same quarter a year earlier, using only quarters with at least 20 sales and no thin-market flag from the Valuer-General. A direction is called only when the quarter before agrees: both changes at least +3% is rising, both at most −3% is falling, both within 3% is about the same, anything else is mixed. Sales compare the latest four quarters with the four before (a change of 10% or more counts as more or fewer). Sales are counted when they settle (Valuer-General Victoria / Land Use Victoria, verified 29 Jul 2026), so these figures trail contracts signed in the last few months.
Rents are the Rental Report's moving-annual median for all homes, from new lettings only (Homes Victoria / Department of Families, Fairness and Housing, verified 29 Jul 2026), compared with the same quarter a year earlier (3% band); new leases use a 10% band. Dwelling approvals are the ABS count for the whole council, not this suburb; an approval is the permit to start building, not a finished home (Australian Bureau of Statistics, verified 27 Sep 2026) (10% band). The reading at the top uses the price direction and sales count of houses, or of units where houses have no comparable figure.
Sources: Victorian Property Sales Report (data.vic), Rental Report (data.vic), ABS Building Approvals (all CC BY 4.0).
| Median unit price (Mar qtr 2026) | $590,000 |
|---|---|
| Stamp duty | $30,470 |
| Stamp duty if you qualify as a first home buyer | $0 |
| Land Use Victoria transfer and mortgage fees | $1,614.20 |
| Government costs on top of the price | |
| Owner-occupier | $32,084.20 |
| First home buyer | $1,614.20 |
Work out your own figure in the stamp duty calculator →
How Southbank compares
Where Southbank ranks against other Greater Melbourne suburbs Delora covers, on the measures buyers ask about — a higher bar isn’t always “better”, it’s just where this suburb sits.
Show recorded crime and amenity-density comparisons
New development pipeline: ~10,102 new dwellings · 30 major projects · 100% apartments
Major residential redevelopment tracked by the Victorian Government (UDP 2025) — infill and apartment/townhouse sites, not greenfield house-and-land estates.
City of Melbourne tracks a fuller, building-by-building picture here — 153 development sites, ~40,589 dwellings (including smaller projects).
Which school zones cover Southbank?
Parts of Southbank fall within 4 primary and 3 secondary government school catchments. 2 schools are located within the suburb (2 government).
Government schools have address-based catchment zones; Catholic and independent schools set their own enrolment processes.
| Zone | Covers | Boundary | |
|---|---|---|---|
| Primary school zones | |||
| South Melbourne Primary School | 87% | — | |
| South Melbourne Park Primary School | 13% | — | |
| Secondary school zones | |||
| Port Melbourne Secondary College | 86% | — | |
| Prahran High School | 13% | — | |
How well connected is Southbank?
0 train, 25 tram and 11 bus stop points sit inside the suburb (PTV timetable data).
- Distance to the CBD
- ~1.4 km
- from the suburb centre
- Getting around
- 0 train · 25 tram · 11 bus
- nearest train station ~0.8 km · counts are stop points, not stations (a station is often several)
- Train frequency
- every 4 min
- at the nearest station, weekday AM peak
- Tram frequency
- every 6 min
- at the nearest stop, weekday AM peak
- Schools
- 2
- primary & secondary
- Nearest Centrelink
- ~0.6 km
- outside the suburb
| Job hub | Minutes |
|---|---|
| Southbank | 5 min |
| South Melbourne | 9 min |
| Melbourne CBD | 15 min |
| Docklands | 19 min |
| Cremorne | 22 min |
| South Yarra | 22 min |
Show all 16 job hubs
| Job hub | Minutes |
|---|---|
| Parkville | 25 min |
| East Melbourne | 29 min |
| Port Melbourne Industrial | 30 min |
| Preston | 48 min |
| Laverton | 54 min |
| Clayton (Monash University) | 65 min |
| Dandenong | 65 min |
| Campbellfield | 70 min |
| Mulgrave | 87 min |
| Geelong | 99 min |
Everyday amenity (OpenStreetMap)
- Cafés & amenity density
- 35 cafés
- Good café & amenity density nearby
- Restaurants
- 43
- places to eat nearby
- Supermarkets
- 9
- grocery stores nearby
- Pharmacies
- 2
- chemists nearby
- Parks
- 24
- green space nearby
- Childcare
- 1
- centres nearby
- GP & medical centres
- 1
- nearby
Who lives in Southbank?
— 22,631 residents · median age 31 · 30% own their home · SEIFA 8/10
- Population
- 22,631
- usual residents (Census 2021)
- Owner-occupied
- 30%
- 30% own, 60% private rent, 0% social, 10% other or not stated
- Median age
- 31 yrs
- of residents
- Personal income
- $1,171/wk
- median, per week
- Household income
- $1,926/wk
- median, per week
- Avg household size
- 1.8 people
- people per home · 24% live alone, 16% share housing
- Monthly mortgage
- $1,900/mo
- median repayment
- Taxpayer income
- $58,169/yr
- median taxable income, per year (ATO)
- Population growth
- no data
- Recorded crime
- 281 per 1,000 residents
- a year, across all of Melbourne council, not just Southbank · higher than most VIC councils
In Southbank itself: 4,725 recorded offences in the year to 2026 (Crime Statistics Agency, matched by suburb name and postcode — a closer figure than the council-wide band above, though still a count, not a rate per resident).
Offence category mix (Melbourne council's mix, latest year):
- Property and deception offences63%
- Crimes against the person15%
- Justice procedures offences10%
- Public order and security offences6%
- Drug offences6%
- Other offences1%
Recorded offences by year, Southbank (up 32% since 2019):
| Year | Offences |
|---|---|
| 2019 | 3,567 |
| 2020 | 4,171 |
| 2021 | 3,544 |
| 2022 | 3,867 |
| 2023 | 3,460 |
| 2024 | 3,694 |
| 2025 | 3,986 |
| 2026 | 4,725 |
- Median household incomeup 4%
- Median personal incomeup 20%
- Median weekly rentdown 20%
- Median ageolder by 1 year
How advantaged the area is
Deciles 1–10 vs all Victorian areas — 10 = most advantaged — from the ABS SEIFA index. A demographic measure, not a house-price one. These three don’t always move together — a suburb with lots of renters or students, for example, can score high on education but lower on income and housing costs.
- Overall advantage
- 8/10
- More advantaged than most
- Economic resources
- 1/10
- income, housing costs & wealth
- Education & occupation
- 10/10
- qualifications & skilled jobs
The homes here
Mix of dwelling types across the suburb (Census 2021)
Who owns and rents here (Census 2021)
More detail on building height and bedroom mix (Census 2021)
Apartment building height (share of all dwellings in the suburb, not just apartments):
- Mid-rise (3–8 storeys): 10%
- High-rise (9+ storeys): 88%
Bedroom mix (share of all occupied dwellings):
- Studio or 1 bedroom: 29%
- 2 bedrooms: 57%
- 3 bedrooms: 13%
Not sure whether a house, townhouse or apartment suits you? Decide what to buy →
Recorded crime is a council-wide rate — every offence police logged over the latest year (theft, property damage, drug and traffic offences and the like, not only violent crime) divided by the council’s residents. A broad area signal, not a figure for this exact street.
All figures are suburb-level indicators, not property-specific — always confirm the exact address on the Section 32. Sources: ABS Census 2021, Valuer-General Victoria, DFFH Rental Report, Crime Statistics Agency Victoria, Vicmap Planning, Victorian Government UDP, Victorian Department of Education (schools & zones, via data.vic, CC BY 4.0), OpenStreetMap.
Suburbs near Southbank
The 6 closest suburbs with a Delora page, by distance between suburb centres.
Compare with nearby suburbs
What should I check before buying in Southbank?
Overlay and pipeline checks specific to Southbank are in the Planning and risk tab. Two checks apply to every purchase.
Easements & covenants
Check Section 3 for easements (e.g. drainage/sewer along a boundary — you usually can’t build over them) and restrictive covenants (single-dwelling, materials, height) that limit your plans.
Owners corporation (if applicable)
Apartments and many townhouses in Southbank are in an owners corporation. If so, the statement must include its certificate — review annual fees, any special levies, the maintenance fund and insurance.
Already under contract in Southbank?
Questions about Southbank
What is the median unit price in Southbank?
The median unit price in Southbank was $590,000 in the Jan–Mar 2026 quarter (Valuer-General Victoria), down 1.7% on a year earlier. House sales in Southbank are too few for Valuer-General Victoria to report a reliable median.
What postcode is Southbank?
Southbank is in postcode 3006, in the Melbourne council area, Victoria.
What is the population of Southbank?
Southbank had 22,631 usual residents at the 2021 Census (ABS), with a median age of 31.
Is Southbank in a flood zone?
About 60% of Southbank's land is under a flood-related planning overlay (LSIO, SBO or floodway), and less than 1% is under the Bushfire Management Overlay (Vicmap Planning). These are suburb-wide shares: whether an overlay applies to one property depends on the address, so check it on VicPlan and in the Section 32.
What should I check in a Section 32 for Southbank?
For Southbank, pay particular attention to heritage overlays (about 17% of the suburb is affected), any flood-related overlay (about 60% of the land), easements and restrictive covenants on the title, and — for apartments — the owners-corporation certificate with its fees and any special levies.
Show all 3 more questions
Does Southbank have heritage overlays?
Around 17% of Southbank sits under a Heritage Overlay — common enough that it's worth confirming whether it applies to this specific parcel. It restricts demolition, extensions and even exterior paint colours, and a permit is needed for changes.
How is Southbank zoned?
Most of Southbank (31% of the land) is in the CCZ (CCZ3), then TRZ2 (22%) and CCZ7 (11%) (Vicmap Planning). The zone and its schedule set what can be built; check the exact zone for an address on VicPlan.
Which school zones cover Southbank?
Parts of Southbank are in the government school zones for primary: 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 (Victorian Department of Education school zones). A suburb can span several zones: the exact address decides which applies, so confirm it at findmyschool.vic.gov.au.
Guides for buying in Southbank
The heritage, flood and bushfire figures in Planning and risk are suburb-wide — they tell you how common an overlay is here, not whether it applies to one specific address. Confirm via VicPlan and an in-person inspection before you rely on them.
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