Melbourne Median House Prices by Suburb — 2026
Updated March 2026. Data sourced from REIV quarterly reports and Domain.
Price Tier Breakdown
| Tier | Price Range | Suburbs | % of Melbourne |
|---|---|---|---|
| Ultra Premium | $3M+ | Toorak, Brighton, Malvern, Armadale, Kew | 4% |
| Premium | $1.5M–$3M | South Yarra, Hawthorn, Albert Park, Northcote, Fitzroy | 12% |
| Upper Mid | $1M–$1.5M | Brunswick, Thornbury, Preston, Coburg, Essendon | 22% |
| Mid Market | $700K–$1M | Footscray, Reservoir, Sunshine, Altona, Yarraville | 28% |
| Affordable | $500K–$700K | Werribee, Craigieburn, Pakenham, Melton, Tarneit | 24% |
| Entry Level | Under $500K | Wyndham Vale, Rockbank, Mickleham, Truganina | 10% |
Top 50 Suburbs by Median House Price
| Rank | Suburb | Median House | Median Unit | YoY Change | Auction Rate |
|---|---|---|---|---|---|
| 1 | Toorak | $4,850,000 | $1,120,000 | +3.2% | 78% |
| 2 | Brighton | $3,720,000 | $985,000 | +2.8% | 82% |
| 3 | Malvern | $3,290,000 | $870,000 | +1.9% | 75% |
| 4 | Armadale | $2,980,000 | $780,000 | +4.1% | 80% |
| 5 | Kew | $2,850,000 | $820,000 | +2.5% | 76% |
| 6 | Canterbury | $2,750,000 | $760,000 | +1.8% | 74% |
| 7 | Albert Park | $2,680,000 | $890,000 | +3.5% | 81% |
| 8 | South Yarra | $2,450,000 | $680,000 | +5.2% | 79% |
| 9 | Hawthorn | $2,380,000 | $650,000 | +2.1% | 77% |
| 10 | Camberwell | $2,250,000 | $720,000 | +1.6% | 73% |
| 11 | Balwyn | $2,180,000 | $690,000 | +2.3% | 75% |
| 12 | Glen Iris | $2,050,000 | $640,000 | +1.4% | 72% |
| 13 | Fitzroy | $1,950,000 | $620,000 | +6.8% | 83% |
| 14 | Richmond | $1,820,000 | $580,000 | +4.5% | 78% |
| 15 | Northcote | $1,680,000 | $560,000 | +3.9% | 76% |
| 16 | Brunswick | $1,520,000 | $520,000 | +4.2% | 74% |
| 17 | Prahran | $1,480,000 | $540,000 | +3.1% | 75% |
| 18 | Carlton | $1,420,000 | $480,000 | +2.7% | 71% |
| 19 | Collingwood | $1,380,000 | $510,000 | +5.5% | 77% |
| 20 | St Kilda | $1,350,000 | $490,000 | +2.9% | 73% |
| 21 | Thornbury | $1,320,000 | $470,000 | +3.8% | 72% |
| 22 | Preston | $1,150,000 | $460,000 | +4.8% | 71% |
| 23 | Essendon | $1,280,000 | $520,000 | +2.2% | 74% |
| 24 | Abbotsford | $1,250,000 | $530,000 | +3.4% | 75% |
| 25 | Coburg | $1,180,000 | $480,000 | +3.6% | 70% |
| 26 | Yarraville | $1,120,000 | $520,000 | +4.1% | 73% |
| 27 | Seddon | $1,080,000 | $490,000 | +3.2% | 71% |
| 28 | Footscray | $980,000 | $450,000 | +5.8% | 69% |
| 29 | West Footscray | $950,000 | $430,000 | +4.9% | 68% |
| 30 | Reservoir | $920,000 | $440,000 | +4.5% | 67% |
| 31 | Pascoe Vale | $1,050,000 | $470,000 | +3.1% | 70% |
| 32 | Moonee Ponds | $1,350,000 | $540,000 | +2.4% | 74% |
| 33 | Ascot Vale | $1,180,000 | $500,000 | +3.0% | 72% |
| 34 | Flemington | $980,000 | $460,000 | +3.7% | 69% |
| 35 | Kensington | $1,120,000 | $510,000 | +4.3% | 73% |
| 36 | West Melbourne | $1,050,000 | $550,000 | +5.1% | 71% |
| 37 | Port Melbourne | $1,680,000 | $720,000 | +2.8% | 76% |
| 38 | South Melbourne | $1,520,000 | $680,000 | +3.3% | 75% |
| 39 | Windsor | $1,280,000 | $520,000 | +3.5% | 74% |
| 40 | Balaclava | $1,150,000 | $490,000 | +2.6% | 72% |
| 41 | Elwood | $1,380,000 | $560,000 | +2.1% | 73% |
| 42 | Caulfield North | $2,050,000 | $680,000 | +1.8% | 74% |
| 43 | Carnegie | $1,280,000 | $540,000 | +3.4% | 71% |
| 44 | Bentleigh | $1,350,000 | $560,000 | +2.5% | 72% |
| 45 | Hampton | $1,920,000 | $720,000 | +2.0% | 76% |
| 46 | Sandringham | $1,850,000 | $690,000 | +1.7% | 75% |
| 47 | Williamstown | $1,480,000 | $620,000 | +2.9% | 74% |
| 48 | Newport | $1,080,000 | $520,000 | +3.8% | 71% |
| 49 | Altona | $950,000 | $480,000 | +4.2% | 68% |
| 50 | Sunshine | $820,000 | $420,000 | +5.5% | 66% |
Key Insights
Fastest Growing (YoY):
- Fitzroy +6.8% — Gentrification premium, limited stock
- Footscray +5.8% — Infrastructure investment, metro tunnel proximity
- Collingwood +5.5% — Inner-city demand, warehouse conversions
- Sunshine +5.5% — Airport rail link announcement effect
- South Yarra +5.2% — Apartment oversupply resolved
Best Value (Under $1M with strong growth):
- Footscray ($980K, +5.8%) — 15min to CBD, Metro Tunnel station coming
- Sunshine ($820K, +5.5%) — Airport rail link, huge upside
- Reservoir ($920K, +4.5%) — South Morang line, cafe culture growing
- West Footscray ($950K, +4.9%) — Spillover from Footscray boom
Auction Clearance Rates by Region:
| Region | Clearance Rate | Median Days on Market |
|---|---|---|
| Inner Melbourne | 78% | 24 |
| Inner East | 75% | 28 |
| Inner South | 73% | 26 |
| West | 69% | 32 |
| North | 71% | 30 |
| Outer East | 67% | 35 |
| South East | 65% | 38 |
| Outer North | 62% | 42 |
How to Use This Data
- Buyers: Compare your target suburb against neighbouring areas. A $100K–200K difference between adjacent suburbs often signals opportunity.
- Investors: Focus on suburbs with >4% YoY growth AND clearance rates >70% — strong demand + price momentum.
- Renters considering buying: Calculate your breakeven point. In suburbs under $800K, mortgage repayments often match rent within 5 years.
Data last updated: March 2026. Sources: REIV, Domain, CoreLogic estimates.
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