The new mansion at 39 St Georges Road in Toorak, belonging to property developer Harry Stamoulis, is rumoured to have cost $70 million, including land. Photo: Joe Armao

The Most Expensive Suburbs in Melbourne

If you’re wondering where Melbourne’s wealthy are residing, you can place your bet on one of these exclusive suburbs. These are the most expensive suburbs in Melbourne.


Favoured by Melbourne’s elite, Toorak is located just five kilometres southeast of the Melbourne CBD. Populated with stately homes, elegant restaurants and haute couture boutiques, this inner-city suburb has a median house price of A$3.1 million, making it the most expensive suburb in the city.

Melbourne's best streets: Robertson St, Toorak reaps millions -
Real Estate

Middle Park

Despite its affluence, Middle Park is a relatively laid-back suburb with leafy streets, chic cafes and a mix of Victorian, Edwardian and Federation architecture. Popular with high income earning families, Middle Park is one of the richest suburbs in Melbourne and boasts a median price range of A$2.6 million.

File:Victorian terrace on canterbury road, Middle Park.jpg - Wikimedia  Commons


This affluent coastal suburb is known for its tree-lined streets, exclusive yacht clubs and it’s 82 colourful beach boxes on Dendy Street Beach. Located 11km south-east of the Melbourne CBD, Brighton has a median house price of A$2.4 million, with one of it’s beach boxes costing over A$300,000.

Ten things to discover in Bayside, Brighton, Melbourne, Victoria, Australia  | Brighton Savoy
Brighton Savoy


From state premiers to the Minogue sisters, generations of Melbourne’s elite have called the suburb of Canterbury home. Populated with exclusive schools, oak trees and multi million dollar mansions lining the suburb’s golden mile, Canterbury has a median house price of A$2.4 million.


East Melbourne

Situated next to the Melbourne CBD, this historical neighbourhood is home to a host of religious and government buildings, including Parliament House. If you want to live in this exclusive suburb, East Melbourne’s luxury storied terraces and art deco mansions come with an average price tag of A$2.3 million.

Real Estate


With white picket fences, manicured gardens and a 20-minute drive to the Melbourne CBD, Malvern epitomises the suburban dream. With an average house price of A$2.2 million, the beloved suburb is one the most expensive suburbs in Melbourne.

Malvern: The Melbourne suburb with schmick homes and famous residents

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