What is the current median house price in South Melbourne, VIC?
The median house price in South Melbourne, VIC 3205 is $1,696,000 as of 2026. The median unit/apartment price is $850,000. Prices have grown by 2.6% over the past 12 months.
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Core Market Intelligence — May 2026
The median house price in South Melbourne, VIC 3205 is $1,696,000 as of 2026. The median unit/apartment price is $850,000. Prices have grown by 2.6% over the past 12 months.
South Melbourne presents a mixed investment picture that requires careful analysis. Key indicators include positive 12-month capital growth of 2.6%. Investors should consider their strategy (capital growth vs yield) and conduct due diligence on local market conditions before making decisions.
The gross rental yield in South Melbourne, VIC 3205 is approximately 2.6%, with a median weekly rent of $421. This yield reflects a growth-oriented market where capital gains may offset lower income returns.
South Melbourne, VIC 3205 has a population of 11,548 with a median age of 39. The median household income is $5,664.