City of Port Phillip
South Melbourne Property Market
& Suburb Profile
MEDIAN PRICES IN SOUTH MELBOURNE
Median house price
(all agencies, last 12 months)$1.5m*House price change
(all agencies, last 12 months)-0.32%Median unit price
(all agencies, last 12 months)$600k*Unit price change
(all agencies, last 12 months)-1.72%(Median House Price and Median Unit Price is calculated based on sales of properties with all numbers of bedrooms)
SOUTH MELBOURNE price TRACKER
South Melbourne sales overview
- Sold by Auction 50%
- Sold by Private Sale or Other Method 50%
- (Based on Sales Reported in the Last 12 Months)
Average days on market (houses)
(all agencies, 12 months)27Average days on market (units)
(all agencies, 12 months)39Auction clearance rate in South Melbourne
(all agencies, last 12 months)55%Average held period in South Melbourne
(proptrack)13 yearsSouth Melbourne Investor Statistics
Median rental price for Houses
(all agencies, last 12 months)$970pwHouse rental price change
(all agencies, last 12 months)0.08%Median rental price for Units
(all agencies, last 12 months)$681pwUnit rental price change
(all agencies, last 12 months)0.07%Average rental yield for Houses
(all agencies, last 12 months)2.77%Average rental yield for Units
(all agencies, last 12 months)5.41%South Melbourne total population size
(as at the last census)11,548Median household size in South Melbourne
(as at the last census)1.9(Median House Price and Median Unit Price is calculated based on leased properties with all numbers of bedrooms)
South Melbourne property types
- Houses 21%
- Units 46%
- Other 33%
OCCUPANCY in South Melbourne
- Owned 42%
- Rented 55%
- Other/Not Stated 3%
- Singles 43%
- Families 51%
- Other 6%
About South Melbourne
Education
Sales Comparison
Find out how South Melbourne median sales prices compare to neighbouring suburbs.
South Melbourne MARKET INSIGHTS
| Year | Sold | Median Sale Price (All Residential) | Sales Growth YoY |
|---|---|---|---|
| 2025 | 409 | $1,067,250 | -0.32% |
| 2024 | 415 | $1,067,500 | -5.93% |
| 2023 | 478 | $1,130,750 | -9.95% |
| 2022 | 388 | $1,228,375 | +7.84% |
| 2021 | 474 | $1,173,625 | +5.08% |
| Year | Leased | Median Rental Price (All Residential) | Rental Yield |
|---|---|---|---|
| 2025 | 991 | $826pw | 4.09% |
| 2024 | 912 | $784pw | 4.00% |
| 2023 | 926 | $787pw | 3.92% |
| 2022 | 1089 | $716pw | 3.62% |
| 2021 | 1333 | $598pw | 2.70% |
PROUDLY SERVICING South Melbourne
Barry Plant
Docklands
- Our other local offices include:
- Yarra's Edge
*The State of Victoria owns the copyright in the property sales data and reproduction of that data in any way without the consent of the State of Victoria will constitute a breach of the Copyright Act 1968 (Cth).The State of Victoria does not warrant the accuracy or completeness of the licensed material and any person using or relying upon such information does so on the basis that the State of Victoria accepts no responsibility or liability whatsoever for any errors, faults, defects or omissions in the information supplied.
This information is supplied by Barry Plant Group Pty Ltd (ABN 96 088 069 952) on behalf of PropTrack Pty Ltd (ABN 43 127 386 298).
The 12 month data in this report is from 31 October 2024 to 31 October 2025, last updated 31 October 2025.