10 of the Best Suburbs to Live in Melbourne in 2020 | Transcorp (2024)

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10 of the Best Suburbs to Live in Melbourne in 2020 | Transcorp? ›

The Australian Bureau of Statistics rankings, released on Thursday, are based on the latest Socio-Economic Indexes for Areas (SEIFA), compiled using data from the 2021 census. The list of the most advantaged suburbs is dominated by locations in Melbourne's inner east, such as Toorak, Brighton and Malvern.

The Australian Bureau of Statistics rankings, released on Thursday, are based on the latest Socio-Economic Indexes for Areas (SEIFA), compiled using data from the 2021 census. The list of the most advantaged suburbs is dominated by locations in Melbourne's inner east, such as Toorak, Brighton and Malvern.

1. Toorak – $5.19m. Toorak, one of Melbourne's most exclusive and affluent suburbs, is a long-standing front-runner for property prices so it's no surprise to see this suburb at the top of the list yet again. Toorak is located about 5km south-east of the CBD and has a range of luxury properties on offer.

Toorak: $5,000,000

Toorak has long been king of the hill, home to Melbourne's priciest, exclusive properties - and this is still true today. Why is Toorak so expensive? The inner city suburb has a combination of luxury lifestyle properties that are within a 6km radius of the CBD.

Melbourne's most expensive house in 2021 was located on Lansell Road in Toorak, sold for $43.1 million. The property was previously owned by British businessman Mark Healey and his wife Kelly.

What is the happiest suburb in Melbourne? ›

Northcote has taken out the title of the best Melbourne suburb to live in, in a new study by PWC (Pricewaterhouse Coopers). One of Australia's “big four” accounting and consultancy firms, it recently released the findings of its yearly City Pulse analysis, which charts liveability across the state.

Toorak, a Suburb of Melbourne, Is a Hub for Generational Wealth and Large Private Estates - Mansion Global.

States and territories annual population growth, December 2022. Wyndham in Victoria was the fastest-growing area between 2019 and 2022, with 34,500 additional residents.

Melbourne's Australian Muslims live primarily in the northern suburbs surrounding Broadmeadows, (mostly Turkish), Coburg, Brunswick and Epping (mostly Lebanese). They also form communities in outer south-eastern suburbs such as Dandenong and Hallam (mostly Afghan and Pakistani).

There are a few different US cities that have been regarded as being like Melbourne, Australia. However, the city that is generally considered to be the most like Melbourne is New York City. New York City is often compared to Melbourne in an economic hub sense.

They say Port Phillip residents – living in suburbs including Port Melbourne, St Kilda, Albert Park, Port Melbourne, Elwood and the urban renewal precinct of Fishermans Bend – are at particular risk due to the low-lying nature of the bayside suburbs.

Suggested Melbourne Neighborhoods

The CBD (Central Business District) – Right in the action. St Kilda – a historic suburb, close to beaches. Richmond – a cool, hip suburb not far from the city. Fitzroy – Great for a night out, or boutique shopping.

What is the most educated suburb in Melbourne? ›

Princes Hill, in the lap of Melbourne University, has the state's highest concentration of post-graduates. East Melbourne, Carlton North, Clifton Hill and Parkville, all with universities on their doorstep, predictably rate highly for education as well.

Melton is the cheapest suburb in Melbourne with a median house price of $410,000 and tops the list as the most affordable suburb in Melbourne, followed by Melton South ($441,000), Cobblebank ($545,000) and Kurunjang ($445,000).

House prices in Australia are extremely high compared to income, relative to other countries. The market is propped up by rules that provide tax deductions for property investment, and by repeated state government bonuses for first home buyers. Furthermore, the supply of new homes is hard to generate.

INCOME AND HOUSING COSTS

The suburb with the highest individual income is East Melbourne, where half of the adult population earns at least $1532 a week. The suburb with the lowest is Campbellfield/Coolaroo with $437 a week. For all of Victoria, the median individual weekly income is $803.

Fitzroy. Ranked third on UK Telegraph's list of the '15 Most 'Hipster' Neighbourhoods in the World' is Fitzroy. Just two kilometres from the CBD, Fitzroy is not only the hippest but also Melbourne's oldest suburb, dating back to 1839.

But Toorak in particular is packed with wealth and fame, being home to the mansions of trucking magnate Lindsay Fox, property developer Harry Stamoulis, Chadstone Shopping Centre part-owner John Gandel, former Essendon Football Club chairman Paul Little, tech entrepreneur Ruslan Kogan, retailer Solomon Lew – and the ...

They are: the Brunswick and Lalor house markets and the Malvern East, Clayton, Box Hill and St Albans unit markets.

Beverley Hills is a landmark historic apartment development at 65 Darling Street in South Yarra, a suburb of Melbourne, Australia, designed by the architect and developer Howard Lawson, and built in 1935-36.

McMillan family: 1.63 million hectares.

An East Melbourne penthouse overlooking Fitzroy Gardens and the Melbourne CBD has been acquired off-the-plan by a local family for $19 million, setting a new apartment benchmark in one of Melbourne's premier inner-city suburbs.

Where is Melbourne on the most liveable city? ›

Melbourne has been named Australia's most liveable city and the 10^th in the world in the Global Liveability Index 2022 . Released by the Economist Intelligence Unit, the title is awarded to the city with the highest score for stability, healthcare, culture and environment, education and infrastructure.

“Queensland's known as the Sunshine State. All those rays and the laid-back lifestyle might be among the reasons why it's Australia's happiest state,” Bayliss said.

Life in Melbourne trounces life in Sydney as the cost of living is at least 11% cheaper. Even rent is cheaper in Melbourne. A typical 1 bedroom rents at AUD 2,689 in Sydney and AUD 1,725 in Melbourne. Also moving around in Melbourne is easy as the city has a well-thought public transport network.

Western Sydney is particularly popular with American expats, while the Northern Beaches Area is great for families. Sydney is a major player on the world stage, which has an undeniable effect on the cost of living here.

The City of Darebin is located to the north of Melbourne and has a population of about 150,000 people covering suburbs such as Bundoora, Northcote and Thornbury. Many of Darebin's residents come from Sri Lanka, India, Egypt and the Middle East.

Melbourne's Arab community is Australia's second largest. Settled in Coburg, Brunswick, Endeavour Hills, Dandenong, Sunshine, Keilor, Altona and Footscray, the community is divided by religious, national and political differences.

Fitzroy, Carlton, and St Kilda are some of the healthiest places in Melbourne to live in terms of walkability and the principle of the 20-minute neighbourhood.

In Melbourne, high homelessness rates are found in Dandenong about 25km from the city, as well as in Maribyrnong, Brimbank, Moreland, Darebin and Whitehorse councils.

Toorak is home to more than 270 shops and businesses ranging from fashion boutiques, cafes, restaurants, beauty therapy, and hair salons. There are also many highly reputable cosmetic and medical clinics inside Toorak Village, located between Wallace Ave and Grange Road.

Where were the slums in Melbourne? ›

As far back as the 1850s, slums existed in inner city Melbourne. Slum dwellers lived a squalid existence. Often, they had no bathrooms, or sewerage. They lived in ramshackle housing, with leaky roofs and holes in the walls.

When will Midweek Melbourne Money end? Midweek Melbourne Money will close 11.59pm Monday 11 April 2022. You still have until 11.59pm Thursday 14 April 2022 to get any outstanding claims in.

Wyndham in Victoria was Australia's fastest growing region over the past three years, with an additional 34,500 to its population between 2019-2022 for a December estimate of 308,900 residents.

The biggest falls in house prices in Melbourne over the past year were in Lower Plenty and Toorak. Bonbeach and Brunswick West bucked the trend, recording rises above 30 per cent compared to the previous year. Noble Park's unit prices rose by more than 40 per cent.

Can foreigners purchase property in Australia? While it is entirely possible for foreigners to purchase property in Australia, they have to be granted permission to do so by the Foreign Investment Review Board (FIRB).

Prices are forecast to decline across all capital cities in 2023, with the largest falls expected in Sydney (-8% to -11%), Brisbane (-8% to -11%), Canberra (-8% to -11%), Melbourne (-7% to -10%), and Hobart (-7% to -10%).

The ABS has a number of interesting statistics regarding the identities of Australia's first home buyers. The average age is between 31 and 33 and the majority are couples, with about half of these including children.

The most in-demand suburbs across the state where houses are attracting hundreds of competing buyers have been revealed. New PropTrack data showed Kangaroo Ground, 26km northeast of the CBD, was the most in demand for houses, with up to a whopping 484 buyers battling for each listed property.

Footscray and Yarraville were also suburbs that were showing similar signs of gentrifying, he said. Wealth has also increased rapidly in Thornbury, the median weekly income having risen from $641 in 2011 to $1041 by 2021, an increase of 62 per cent.

Are Melbourne house prices dropping? ›

Prices are forecast to decline across all capital cities in 2023, with the largest falls expected in Sydney (-8% to -11%), Brisbane (-8% to -11%), Canberra (-8% to -11%), Melbourne (-7% to -10%), and Hobart (-7% to -10%).

The average cost of living in Melbourne, Australia per month is around $2,500 for a single person. This includes expenses for housing, food, rent, transportation, entertainment, and other amenities.

Great city for coffee, education and culture

If you are a coffee addict, love culture and great food, you'll dig Melbourne. The Victorian capital is one of the most exciting and diverse in Australia, offering a variety of academic options and employment opportunities.