Are you looking to move to Melbourne’s suburbs but have a budget to consider? Well, you might want to do your research before deciding where to settle down. Melbourne is known for its expensive real estate market, and suburbs are no exception.
In this blog post, we will be exploring the most expensive suburbs in Melbourne, giving you an insight into what you can expect to pay if you’re considering living in one of these areas.
We will provide you with a comprehensive list of Melbourne’s priciest suburbs, including their median house prices and what you can expect in terms of amenities, schools, and lifestyle.
Whether you’re a first-time buyer or simply curious about the Melbourne property market, this blog post will provide you with valuable insights into Melbourne’s most expensive suburbs.
We hope that after reading this post, you’ll have a better understanding of what it takes to live in Melbourne’s most luxurious suburbs and whether it’s the right choice for you.
Most Expensive Suburbs in Melbourne
Here are the 10 most affluent suburbs of Melbourne.
1. Main Ridge
Main Ridge is a small and beautiful suburb just an hour away from the busy heart of Melbourne. This peaceful area gives amazing views of Port Phillip Bay and Westernport Bay all year long. Being close to the beach makes it a popular place for people who love fancy living.
With only 416 people living there, this quiet spot is actually Greater Melbourne’s most expensive suburb with house prices around $4 million!
People enjoy Main Ridge because of top-notch schools, easy trips to airports, pretty beaches, and lots of wineries nearby. So even though it’s costly, this elegant suburb has many reasons why families choose to call it home sweet home!
2. Merricks North
Merricks North is a cozy suburb found in Mornington Peninsula, just 91 kilometres away from Melbourne’s busy city centre.
It’s a perfect spot for those who like to live near nature while still being close to the city. Stunning views of the coast and a peaceful countryside feel make Merricks North extra special. With only 423 people living here, it’s a quiet place to call home.
The average house price is an impressive $4.1 million! In the past year, two houses were sold with one going for $2.3 million – making this area very desirable in Victoria.
Being close to Hastings lets residents enjoy shopping and entertainment but keep their privacy and luxury lifestyle too!
3. Portsea
Portsea is a fancy suburb in Melbourne, famous for its amazing houses and fun things to do. Here, you’ll find grand Victorian homes and modern beach houses – even huge waterfront mansions!
There are lots of fancy stores, art galleries, cafes, and great places to eat in this lovely area. Portsea is known for its beautiful views of Port Phillip Bay which makes it popular for both living and visiting.
The average house price here is an incredible $4.8 million! Some very important people like Lindsay Fox and Eddie McGuire have bought houses here too.
With pretty parks and nature spots nearby, Portsea has something for everyone who enjoys the finer things in life by the sea.
4. Flinders
Flinders is a luxurious beachside town on the Mornington Peninsula, about 104 kilometres from Melbourne. With elegant mansions and big estates, this special place has some of Australia’s most fancy homes.
The average house price here is a whopping $3.9 million – the highest among coastal suburbs in the past 12 months! In that time, 45 houses and one unit were sold with the most expensive sale at an incredible $11 million, making it one of Victoria’s costliest properties!
Flinders also offers fun things like a private golf course and yacht club for people who enjoy lavish living by the ocean waves. So if high-class seaside life is your dream, Flinders might be just right for you!
5. Point Leo
Point Leo is a lovely surfing spot in the beautiful countryside of Mornington Peninsula, about 97 kilometres southeast of Melbourne’s busy city life. Founded in the 1940s, this area has become very popular for its valuable houses with an average price tag of $3.2 million!
The most expensive sale over the past year was a stunning $1.2 million – that’s one lucky homebuyer! But because it’s such a special place with gorgeous views and peaceful vibes, there haven’t been many house sales recently.
In Point Leo, you can enjoy both surf and turf while living in style – just be prepared to pay top dollar for this exclusive coastal paradise!
6. Toorak
Toorak is a fancy suburb hidden just behind Melbourne’s city centre, only five kilometres away. Many famous Australians live here, like the Myers family and Eddie McGuire.
Toorak is known as one of the most expensive suburbs near the CBD with an average house price of $3 million! There are about 12,959 residents enjoying this high-class area, according to the latest census.
Living in Toorak means being close to everything Melbourne has to offer while still making your home in a super luxurious neighbourhood.
7. Moorooduc
Moorooduc is a pretty suburb on Mornington Peninsula with houses that cost around $3 million on average. It’s 54 kilometres away from Melbourne CBD and only 13 kilometres from the lively city of Frankston.
There are about 1,004 people living in Moorooduc, according to the latest census data. The most expensive house sold here in the past year had a jaw-dropping price tag of $3 million!
This lovely place attracts people who love living in the countryside but still want to be near all the fun stuff happening in town.
8. Canterbury
Canterbury is a charming suburb in Melbourne, only 10 kilometres east of the city centre. It’s known for lovely neighbourhoods and safe streets, perfect for families.
Famous people like the Minogue family and politician Andrew Peacock have called this place home. But to get your own slice of Canterbury life, you’ll need to pay a pretty penny!
The average house price here is an astounding $2.9 million. And if that’s not enough, some houses have sold for up to $15 million!
Living in Canterbury means enjoying beautiful surroundings while being close to everything Melbourne has to offer – just make sure your piggy bank is ready for such a costly investment!
9. Brighton
Brighton is a fancy beachside suburb not far from Melbourne’s city centre, only 11 kilometres away. Named after a famous place in the UK, it has about 23,549 people living there, according to the last census.
With beautiful beaches and lovely streets, it’s easy to see why so many choose Brighton as their home! The average house price here is an amazing $2.6 million – quite high for such a big community.
But some houses have sold for even more! One property went for an astonishing $22 million, setting a new record for house prices in this beautiful seaside area.
If you’re dreaming of living by the ocean with all the luxury you can imagine, Brighton might be just what you’re looking for!
10. Kooyong
Kooyong is a fancy suburb in Melbourne, found in the inner southeast part of the city. Many rich families and famous people like to live here because of its beautiful houses and great places to shop and eat.
People with kids also enjoy Kooyong since it has some of the best schools around. This popular spot has amazing views over Port Phillip Bay, making it a real treasure for everyone living there.
But remember, these perfect homes come with a high cost! The most expensive house sold here was an unbelievable $5 million! So if you want to join this first-class community, be ready to pay big bucks for such an incredible place to live.