October 2026 data · Melbourne · VIC
Southbank house prices: median price and growth
- Median house
- $1000k Too few sales for a change
- Median unit
- $540k ▼ −2.7% in 12 months
The median house price in Southbank is $1000k (October 2026). Units have a median of $540k, down 2.7% over 12 months. That puts Southbank below the typical Inner Melbourne suburb ($1.63m) and number 7 of the 8 suburbs around it.
Median house price
- $2.25M+
- $2M–$2.25M
- $1.75M–$2M
- $1.5M–$1.75M
- $1.25M–$1.5M
- $1M–$1.25M
- $750K–$1M
- $500K–$750K
- <$500K
Southbank price changes
| Type | Median | 3 mo | 6 mo | 12 mo |
|---|---|---|---|---|
| House | $1000k | – | – | – |
| Unit | $540k | ▼ −0.9% | ▲ +0.9% | ▼ −2.7% |
Changes compare the median with three, six and twelve months earlier. A dash means too few sales for a reliable figure. How these figures are worked out.
Southbank compared with nearby suburbs
Suburbs within about 1 km of Southbank, dearest house median first. Select a column heading to sort.
| House | Unit | |||||||
|---|---|---|---|---|---|---|---|---|
| East Melbourne | $2.95m | ▲ +0.1% | ▼ −3.2% | ▲ +0.1% | $703k | ▼ −2.7% | ▲ +1.5% | ▼ −3.7% |
| Albert Park | $2.37m | ▼ −4.1% | ▼ −0.8% | ▼ −3.2% | $934k | 0.0% | ▲ +13.2% | ▲ +33.4% |
| South Yarra | $2.02m | ▲ +1.8% | ▼ −2.2% | ▼ −8.0% | $530k | ▼ −1.9% | ▼ −7.0% | ▼ −7.8% |
| South Melbourne | $1.65m | ▲ +7.6% | ▼ −2.3% | ▲ +12.7% | $605k | ▼ −1.4% | ▲ +1.0% | ▲ +0.8% |
| Port Melbourne | $1.50m | ▼ −3.1% | ▼ −3.7% | ▼ −5.2% | $720k | 0.0% | ▲ +2.1% | ▲ +4.0% |
| Docklands | $1.18m | ▼ −14.2% | ▼ −13.2% | ▼ −32.2% | $580k | 0.0% | ▼ −0.9% | ▼ −3.4% |
| Southbank | $1000k | – | – | – | $540k | ▼ −0.9% | ▲ +0.9% | ▼ −2.7% |
| Melbourne | $550k | ▲ +14.7% | ▲ +25.9% | ▼ −56.4% | $460k | 0.0% | 0.0% | ▲ +0.9% |
| South Wharf | – | – | – | – | $805k | – | – | – |
Living in Southbank
From the 2021 ABS Census: Southbank against the Melbourne council area and VIC. Council and state percentages count all their residents; their medians are the middle suburb by population.
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| Figure | Southbank | Melbourne (council) | VIC |
|---|---|---|---|
| People | |||
| Population | 22,631 | 185,721 | 6,503,500 |
| Median age | 31 | 31 | 39 |
| Families with children | 🔒 | 🔒 | 🔒 |
| Born overseas | 61.2% | 50.9% | 30.0% |
| Language other than English at home | 🔒 | 🔒 | 🔒 |
| Work and education | |||
| Median household income | $1,926/wk | $1,717/wk | $1,856/wk |
| Median personal income | 🔒 | 🔒 | 🔒 |
| Professionals and managers | 🔒 | 🔒 | 🔒 |
| Unemployment | 🔒 | 🔒 | 🔒 |
| Bachelor degree or higher | 🔒 | 🔒 | 🔒 |
| Completed Year 12 | 🔒 | 🔒 | 🔒 |
| Housing | |||
| Owned outright | 🔒 | 🔒 | 🔒 |
| Owned with a mortgage | 🔒 | 🔒 | 🔒 |
| Rented | 67.0% | 64.0% | 28.5% |
| Separate houses | 🔒 | 🔒 | 🔒 |
| Flats and apartments | 🔒 | 🔒 | 🔒 |
| Median weekly rent | 🔒 | 🔒 | 🔒 |
| Median mortgage repayment | 🔒 | 🔒 | 🔒 |
| Advantage | |||
| SEIFA advantage (IRSAD), Australian decile | 🔒 | 🔒 | 🔒 |
🔒 Age, occupation and ancestry breakdowns for Southbank, its council and VIC
Source: ABS Census of Population and Housing 2021. More figures, maps and the 2016 Census are in Location Insights.
Common questions
What is the median house price in Southbank?
The median house price in Southbank was $1000k in October 2026. The typical Inner Melbourne suburb median was $1.63m.
What is the median unit price in Southbank?
The median unit price in Southbank was $540k in October 2026, down 2.7% over 12 months.
Is Southbank more expensive than nearby suburbs?
Of the 7 neighbouring suburbs with a median house price, 6 are dearer than Southbank and 1 is cheaper or the same.
Where does this data come from?
Prices come from REA sales data for October 2026, all bedroom counts, refreshed monthly. Medians cover sales over the past 12 months; changes are shown only where at least 10 homes of that type sold.