South Melbourne (VIC 3205): property prices & suburb profile
Port Phillip LGA · Latest published data October 2025 · Page updated August 2026 · Public government records
South Melbourne property prices
The typical South Melbourne house sold for around $1,699,000 in the year to 2025-Q4, +27.7% over 10 years and +13.1% over 5 years.
Change in medians published by the Victorian Valuer-General · rolling year to 2025-Q4 for recent horizons, yearly medians to 2024 further back
View as table
| Period | Houses (yearly + recent quarters) | Units (yearly + recent quarters) |
|---|---|---|
| 2013 | $1,030,000 | $515,000 |
| 2014 | $1,200,000 | $567,500 |
| 2015 | $1,310,000 | $585,000 |
| 2016 | $1,595,000 | $591,500 |
| 2017 | $1,532,500 | $625,000 |
| 2018 | $1,465,000 | $630,000 |
| 2019 | $1,355,000 | $608,000 |
| 2020 | $1,580,000 | $590,000 |
| 2021 | $1,710,000 | $690,000 |
| 2022 | $1,882,500 | $665,000 |
| 2023 | $1,640,000 | $655,000 |
| 2024 | $1,532,500 | $612,000 |
| Apr 2024 | $1,616,300 | $539,500 |
| July 2024 | $1,325,000 | $618,000 |
| Oct 2024 | $1,535,000 | $645,000 |
| 2025 | $1,620,000 | $596,900 |
| Apr 2025 | $1,790,000 | $591,000 |
| July 2025 | $1,457,500 | $670,000 |
| Oct 2025 | $1,932,500 | $630,000 |
- Medians are published by the Victorian Valuer-General per suburb; we do not have individual sale records for this state, so there is no street-level breakdown on this page (our New South Wales pages have one).
- The headline figure is a sales-weighted average of the last four quarterly medians, not a median of individual sales, because one quiet quarter in a single suburb can move a quarterly median by more than the market did. The chart below plots each quarter as published.
- The Victorian Valuer-General yearly file currently ends at 2024; newer points on the chart and the short-horizon changes come from the quarterly file.
- Change over time reflects what sold in each period, not the value of any one home: a run of large or small homes moves it.
- Periods with fewer than 5 recorded sales are excluded.
South Melbourne medians by quarter
The most recent quarter on record for South Melbourne is 2025-Q4.
| 2025-Q4 | Unit | $630k | 79 |
| 2025-Q4 | House | $1.93M | 26 |
| 2025-Q3 | Unit | $670k | 88 |
| 2025-Q3 | House | $1.46M | 23 |
| 2025-Q2 | Unit | $591k | 82 |
| 2025-Q2 | House | $1.79M | 17 |
| 2025-Q1 | Unit | $597k | 70 |
| 2025-Q1 | House | $1.62M | 26 |
| 2024-Q4 | Unit | $645k | 75 |
| 2024-Q4 | House | $1.53M | 25 |
| 2024-Q3 | Unit | $618k | 66 |
| 2024-Q3 | House | $1.32M | — |
- Sale counts are shown so you can judge how solid each median is.
Who lives in South Melbourne
South Melbourne has a median age of 39 and a median household income of $2,101 a week.
- Figures labelled South Melbourne are for the suburb boundary itself (ABS 2021 Census). Anything labelled SA2 or postcode covers a wider area: SA2 "South Melbourne" and postcode 3205 both extend beyond South Melbourne.
- SEIFA decile 1 is the lowest tenth of Australian areas on that index and 10 the highest. The four indices measure different things and often disagree, which is why all four are shown: a suburb can rank high on education and occupation while ranking mid on economic resources.
Schools in South Melbourne
The 2 mainstream schools in South Melbourne sit at the 78th percentile nationally on ACARA's socio-educational index.
| Galilee Regional Catholic Primary School | Catholic | Primary | 1,154 |
| Montague School | Government | Special | 983 |
| Youth2Industry College | Independent | Secondary | 1,033 |
- ICSEA is ACARA's socio-educational index (average 1000). It describes the family backgrounds of the students enrolled, NOT how well a school teaches: a lower ICSEA means a less advantaged intake, not a worse school.
- Percentiles are ACARA's own national ranking, so the Australia bar is a published figure rather than our arithmetic. Each area shows the median of the mainstream schools sitting inside it; special schools are listed in the table but excluded from the medians.
- Public school intake zones are not published in our dataset for this state, so confirm catchments with the school.
Suburbs near South Melbourne
South Melbourne's typical house price of $1,699,000 is the 8th highest of the 22 Melbourne Inner suburbs we cover.
Albert Park 3206
$2,309,000 typical house price
Armadale 3143
$2,643,000 typical house price
Balaclava 3183
$1,402,000 typical house price
Carlton 3053
$1,542,000 typical house price
Collingwood 3066
$1,321,000 typical house price
Docklands 3008
$573,000 typical unit price
Elwood 3184
$2,203,000 typical house price
Fitzroy 3065
$1,575,000 typical house price
South Melbourne: common questions
- How much does a house cost in South Melbourne?
- About $1,699,000 across the 12 months to 2025-Q4, from 92 recorded sales. That is a sales-weighted average of the four quarterly medians published by the Victorian Valuer-General: a single quarter in one suburb can swing on a handful of sales.
- Have South Melbourne prices gone up?
- Prices have risen 27.7% over 10 years and moved +13.1% over 5 years, comparing the latest rolling year with the same window a decade earlier. These movements reflect the mix of homes sold, not the change in value of a specific property.
- What do units cost in South Melbourne?
- The typical unit price was around $624,000 across the 12 months to 2025-Q4: a sales-weighted average of the quarterly unit medians, from 319 sales.
- Can I see South Melbourne prices street by street?
- Not yet. VIC publishes suburb-level medians rather than individual sale records, so street-level medians are only available on our New South Wales pages.
- Which schools are in South Melbourne?
- South Melbourne has 3 ACARA-registered schools: Galilee Regional Catholic Primary School, Montague School, Youth2Industry College.
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Data sources
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This page summarises public government datasets for general information. It is not financial, legal or property advice, figures can contain source errors, and postcode or SA2 statistics cover a wider area than the suburb itself. Flood and bushfire overlays are not yet loaded for VIC pages, so the absence of a risk section is a data gap, not an all-clear: always check the vendor statement and planning certificate. Verify anything material independently before acting on it.