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Southbank (VIC 3006): property prices & suburb profile
Melbourne LGA · Latest published data October 2025 · Page updated August 2026 · Public government records
Southbank · VIC 3006 · typical unit price · 12 months to 2025-Q4
$583,000+9.1%
vs 10 years ago (rolling year)
Sales-weighted average of the 4 quarterly medians to 2025-Q4 (1,135 sales) published by the Victorian Valuer-General. A single quarter in one suburb can turn on a handful of sales, so this page reports a rolling year.
Typical unit price
$583,000
1,135 sales over 4 quarters
Sales in the last year
1,135
units
SEIFA advantage decile
10 of 10
Southbank
Schools in the suburb
2
ACARA registered
Southbank property prices
The typical Southbank unit sold for around $583,000 in the year to 2025-Q4, +9.1% over 10 years and -1.6% over 5 years.
1Y
3Y
5Y
10Y
Units
-2.8%
+3.4%
-1.6%
+9.1%
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 | Units (yearly + recent quarters) |
|---|---|
| 2013 | $571,000 |
| 2014 | $550,000 |
| 2015 | $582,500 |
| 2016 | $600,000 |
| 2017 | $585,000 |
| 2018 | $592,000 |
| 2019 | $610,000 |
| 2020 | $593,000 |
| 2021 | $580,000 |
| 2022 | $611,000 |
| 2023 | $605,000 |
| 2024 | $600,000 |
| Apr 2024 | $600,000 |
| July 2024 | $609,000 |
| Oct 2024 | $590,000 |
| 2025 | $600,000 |
| Apr 2025 | $555,000 |
| July 2025 | $592,000 |
| Oct 2025 | $587,500 |
- 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.
Southbank medians by quarter
The most recent quarter on record for Southbank is 2025-Q4.
Southbank medians by quarter
| Quarter | Type | Median | Sales |
|---|---|---|---|
| 2025-Q4 | Unit | $588k | 306 |
| 2025-Q3 | Unit | $592k | 302 |
| 2025-Q2 | Unit | $555k | 290 |
| 2025-Q1 | Unit | $600k | 237 |
| 2024-Q4 | Unit | $590k | 263 |
| 2024-Q3 | Unit | $609k | 278 |
| 2024-Q2 | Unit | $600k | — |
| 2024-Q1 | Unit | $620k | — |
| 2023-Q4 | Unit | $619k | — |
| 2023-Q3 | Unit | $615k | — |
- Sale counts are shown so you can judge how solid each median is.
Who lives in Southbank
Southbank has a median age of 31 and a median household income of $1,926 a week.
Population (Southbank)
22,631
Median age (Southbank)
31 years
Median household income (Southbank)
$1,926/wk
People per square kilometre
14,470
Average taxable income (postcode, 2023)
$93,905
SEIFA advantage decile (Southbank)
10 of 10
Addresses in the suburb (G-NAF)
55,441
Rooftop solar installs, 12 months (postcode)
3
How Southbank homes are held
Owned outright
12.6% · 1,497
Owned with a mortgage
17.7% · 2,103
Rented
67.0% · 7,969
Southbank homes by bedroom count
1 bedroom or studio
29.3% · 3,453
2 bedrooms
57.4% · 6,771
3 bedrooms
12.8% · 1,506
4 bedrooms
0.4% · 47
5 or more
0.1% · 11
ABS SEIFA 2021 deciles · 10 of 10 = most advantaged nationally
Advantage and disadvantage (IRSAD)
from income, education, occupation and housing
10 of 10
Relative disadvantage (IRSD)
from low income, low education and unskilled occupations
8 of 10
Economic resources (IER)
from household income, wealth and housing costs
1 of 10
Education and occupation (IEO)
from qualifications and skilled work
10 of 10
- Figures labelled Southbank are for the suburb boundary itself (ABS 2021 Census). Anything labelled SA2 or postcode covers a wider area: SA2 "Southbank - East" and postcode 3006 both extend beyond Southbank.
- 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 Southbank
The 2 schools in Southbank sit at the 94th percentile nationally on ACARA's socio-educational index.
Schools located in Southbank
| School | Sector | Type | ICSEA |
|---|---|---|---|
| South Melbourne Primary School | Government | Primary | 1,144 |
| Victorian College Of The Arts Secondary School | Government | Secondary | 1,141 |
Median school percentile nationally · ICSEA score
Southbank · 2 schools
94th · 1142
Melbourne LGA
92nd · 1133
Melbourne Inner
94th · 1142
VIC
60th · 1030
Australia
51st · 1008
- 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 Southbank
Compare Southbank with nearby suburbs we have profiled from the same public records.
Southbank: common questions
- How much does a unit cost in Southbank?
- About $583,000 across the 12 months to 2025-Q4, from 1,135 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 Southbank prices gone up?
- Prices have risen 9.1% over 10 years and moved -1.6% 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.
- Can I see Southbank 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 Southbank?
- South Melbourne Primary School, Victorian College Of The Arts Secondary School.
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Data sources
- [1]
- [2]
- [3]
- [4]
- [5]
- [6]
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.