Is Southbank expensive?
There is not yet enough consistent market data for a dependable house median. The nearby suburb links make it easier to compare the wider market while local observations build.
High-rise buildings in Melbourne city skyline
The quick read on
Southbank
VIC 3006 · Melbourne
What homes cost, how rents have moved, and a feel for the people who call it home.
- Median unit
- $550,000
- Population
- 22,631
- Postcode
- 3006
latest suburb median
ABS 2021
Southbank, Victoria
Property market insights for Southbank
Median sale price and rental income of properties in Southbank VIC
Market data updated October 2026.
Southbank has a 12-month growth rate of -0.9% for units.
One-bedroom houses have a median sale price of $380,000, Two-bedroom houses have a median sale price of $515,000 in Southbank.
The median price of apartments and units for sale in Southbank is $550,000, which has decreased 0.9% since the same time last year. One-bedroom apartments and units have a median sale price of $385,000, Two-bedroom apartments and units have a median sale price of $580,000, Three-bedroom apartments and units have a median sale price of $1,000,000, Four-bedroom apartments and units have a median sale price of $2,000,000 in Southbank. The median rent for units and apartments in Southbank is $720 per week and has increased 6.7% over the last 12 months.
Crime and safety
Is Southbank safe?
The overall rate for Southbank is 5,455 offences per 100,000 residents — 36% above the Greater Melbourne benchmark.
That is the clearest suburb-wide answer. Open the detailed profile to see how the pattern changes across offence types and different parts of Southbank.
Overall crime rate
5,455
offences per 100,000 residents
36% aboveGreater Melbourne
SouthbankGreater Melbourne: 4,001
Suburb-wide estimate from Microburbs' public crime model; it is not an address-level measure.
The people behind the postcode
Who lives in Southbank?
Southbank VIC 3006 is in Victoria, within Greater Melbourne.
22,631 people call Southbank home, with an average of 1.8 people per household and a median household income of $1,926 a week.
Public ABS 2021 Census figures. The bars compare the local share with the capital-region benchmark.
- Population
- 22,631
- Median age
- 31 years
- Median mortgage
- $1,900 / month
- 2021 household rent
- $411 / week
Above the benchmarkBelow the benchmarkIn lineGreater Melbourne benchmark
Age profile
Share of residents in each age band.
Under 155.9%Below
15–3456.2%Above
35–5426.3%Below
55–749.6%Below
75 and over1.9%Below
Homes
Share of occupied private dwellings.
Separate houses0.0%Below
Townhouses1.3%Below
Apartments98.2%Above
Ownership
Share of homes with a stated ownership or rental status.
Owned outright12.9%Below
Paying a mortgage18.2%Below
Renting68.9%Above
Cars at home
Vehicles available to occupied households.
No car40.6%Above
One car50.5%Above
Two cars7.9%Below
Three or more0.9%Below
Getting to work
Selected ways residents worked or travelled on Census day.
Worked from home40.6%Above
Drove to work15.1%Below
Train, tram or bus11.8%Above
Walked or cycled14.4%Above
What stands out in Southbank
40.6% of workers in Southbank worked from home on Census day — noticeably more common than across Greater Melbourne.
9.4% of Southbank residents were born in India, about twice the rate across Greater Melbourne.
45.6% of people in Southbank described themselves as having no religion in the 2021 Census.
A closer look at the Census
Questions people ask about Southbank
Open any question for a plain-English reading of the public 2021 Census for Southbank VIC 3006.
Is Southbank family-friendly?Age, family structure and household size describe the community families would be joining.
5.9% of Southbank's residents were children under 15 in the 2021 Census. That is about half the Greater Melbourne rate.
5,291 family households lived in Southbank; 18.1% were couple families and 9.1% were one-parent families.
18.6% of local families included children under 15. That is about half the Greater Melbourne rate.
These are suburb-wide household figures, not school or childcare ratings.
What is the age profile of Southbank?The balance between younger adults, families and older residents changes how a suburb feels day to day.
Southbank had 22,631 residents at the 2021 Census.
60.2% of residents were aged 25 to 44.
11.5% were 55 or older. That is about half the Greater Melbourne rate.
Age shares use the suburb’s total Census population.
What kind of homes are in Southbank?The dwelling mix shows whether the suburb is mostly detached homes, townhouses or apartments.
Separate houses made up 0.0% of occupied private dwellings in Southbank.
Townhouses and other attached homes represented 1.3% of occupied private dwellings.
Flats and apartments accounted for 98.2% of occupied private dwellings.
All three shares use occupied private dwellings as the denominator.
Do people own or rent in Southbank?Tenure shows how many households own outright, have a mortgage or rent.
12.9% of households with a stated tenure owned their home outright. That is about half the Greater Melbourne rate.
18.2% were buying their home with a mortgage.
68.9% rented their home. That is about twice the Greater Melbourne rate.
Tenure shares include households that stated one of these three arrangements.
How large are households in Southbank?Household-size data shows the mix behind the suburb-wide average.
The average household in Southbank had 1.8 people.
One-person households made up 42.9% of occupied homes. That is well above the Greater Melbourne average.
Two-person households represented 42.3%, while 4.1% had four or more usual residents.
Household size counts usual residents in occupied homes.
How do people get to work in Southbank?Census-day travel shows the balance between home, road, public transport and active travel.
40.6% of workers worked from home on Census day. That is well above the Greater Melbourne average.
15.1% drove a car as their only travel method. That is about half the Greater Melbourne rate.
11.8% used only a train, tram or bus, while 14.4% walked or cycled.
Travel figures are a 2021 Census-day snapshot.
How many cars do households have in Southbank?Vehicle availability helps describe the routines local households can support.
40.6% of occupied households had no motor vehicle available. That is about twice the Greater Melbourne rate.
One-car households formed 50.5% of the total.
8.9% of households had two or more vehicles.
Vehicle counts refer to occupied households, not individual residents.
Who's moving to Southbank, and who stays?Address history shows how settled or recently mobile residents were at the Census date.
20.0% were at the same address five years earlier, while 80.0% reported a different address.
61.2% of residents were born outside Australia. That is well above the Greater Melbourne average.
Mobility figures cover residents who answered the relevant Census question.
What languages are spoken in Southbank?Language at home gives a direct view of the community’s everyday linguistic mix.
45.4% of residents used only English at home.
48.7% used a language other than English at home.
11.6% spoke Mandarin at home, 3.1% spoke Cantonese and 4.0% spoke Hindi.
Home language is separate from English proficiency.
Where were Southbank residents born?Birthplace adds another layer to the local story, separate from ancestry and language.
61.2% of Southbank's population was born outside Australia, while roughly 38.8% was born in Australia.
8.9% of residents were born in China.
9.4% were born in India, while Australian citizenship across the whole suburb stood at 50.5%.
Birthplace, citizenship and ancestry describe different parts of identity.
What ancestries shape Southbank?Ancestry responses show how residents describe family and cultural background.
English ancestry accounted for 18.2% of ancestry responses in Southbank.
Australian ancestry made up 12.3% of responses.
Chinese ancestry represented 20.7% of responses.
People may nominate more than one ancestry, so these are shares of responses.
What work do people do in Southbank?Occupation describes a person’s role; industry describes the sector employing them.
38.5% of employed residents worked in professional occupations. That is well above the Greater Melbourne average.
Managers accounted for 15.1% of employed residents, while clerical and administrative workers made up 12.1%.
Health care and social assistance employed 8.1% of workers, and education and training employed 6.3%.
Occupation and industry figures describe employed residents of the suburb.
How active is the workforce in Southbank?Participation, employment pattern and unemployment describe the resident labour force.
The labour-force participation rate was 77.7%, compared with 64.1% across Greater Melbourne.
47.0% of residents aged 15 and over worked full time, while 21.7% worked part time.
Unemployment was 5.8%, compared with 5.3% across Greater Melbourne.
Labour-force figures come from the 2021 Census.
What does the health profile of Southbank show?Selected long-term health conditions help describe community service needs.
73.1% reported no selected long-term health condition.
6.8% reported a long-term mental health condition, including depression or anxiety.
5.9% reported asthma, 2.4% arthritis and 1.7% diabetes excluding gestational diabetes.
These are self-reported suburb-wide Census figures, not address-level health risks.
How educated is Southbank?Qualifications describe the study pathways represented among local residents.
42.4% of people in the qualifications table held a bachelor degree. That is well above the Greater Melbourne average.
Postgraduate degrees accounted for 24.8% of qualification responses.
Diploma-level qualifications represented 11.3%, while certificate-level qualifications represented 8.1%.
Qualification categories are reported separately and are not school ratings.
What do incomes and housing costs look like in Southbank?Census income and household payments give historical context for local living costs.
Median household income was $1,926 per week in the 2021 Census.
The median monthly mortgage repayment reported by local households was $1,900.
Occupied renting households reported a median rent of $411 per week.
These household figures are from 2021; current sale and asking-rent medians appear in the market section.
How does Southbank compare with Greater Melbourne?A few clear differences place the suburb in its wider metropolitan context.
Working from home was 40.6% in Southbank, compared with 28.8% across Greater Melbourne.
Outright ownership was 12.9% locally and 30.7% across Greater Melbourne. That is about half the Greater Melbourne rate.
Renting accounted for 68.9% in Southbank, against 31.1% across Greater Melbourne.
Capital-region comparisons use the same Census definitions and year.
Three useful questions
A buyer’s quick guide to Southbank
Is Southbank good for families?
The Census counted 5,291 local families, and 5.9% of residents were under 15. That describes the community; school quality, travel times and the right fit for a particular family need separate research.
What can I get for $1.5m in Southbank?
2-bedroom houses have a median around $515,000, the closest bedroom benchmark we hold to a $1.5m budget. Individual homes can differ substantially with block size, renovation and location.
Medians describe recorded market activity across the suburb; they are historical context, not a valuation or forecast for an individual home.
Explore the area
Streets and suburbs around Southbank
47 streets in Southbank
Street-by-street reports are not published yet. The streets below are the ones this suburb covers.
- Bale Cct
- Ballantyne St
- Balston St
- Brady St
- Catherine St
- Cecil St
- Chessell St
- City Rd
- Clarendon St
- Clarke St
- Cook St
- Coventry St
- Dodds St
- Dorcas St
- Douglas St
- Fanning St
- Fawkner St
- Ferrars St
Show all 47 streetsShow fewer streets
- Freshwater Pl
- Gladstone St
- Grant St
- Haig St
- Hancock Street
- Hoff Bvd
- Kavanagh St
- Kings
- Market St
- Meaden St
- Miles St
- Montague St
- Moore St
- Moray St
- Munro St
- Normanby Rd
- Power St
- Queensbridge Sq
- Queens Bridge St
- Railway Pl
- Riverside
- Southbank Bvd
- Southgate Ave
- St Kilda Rd
- Sturt St
- Wadey St
- Wells Pl
- Wells St
- Whiteman St
12 suburbs surrounding Southbank
Compare nearby suburb prices, rents and five-year market trends.
Keep exploring
Is Southbank right for your search?
Use the finders to compare places and properties, or open the full report when you need the street, risk, schools and growth research.
Read the thinking
Figures update as new market and census data arrives. This suburb overview is general information, not a valuation or financial advice.