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Cremorne suburb profile

Cremorne is a compact inner-city suburb on the south bank of the Yarra, where rows of red-brick former factories and warehouses sit beside narrow residential streets of Victorian and Edwardian terraces. The suburb has a strong commercial character with creative and professional offices, studios and boutique showrooms sharing the same blocks as contemporary apartments, while the riverbank parklands offer a green respite. Cafés and eateries line Swan Street and spill into quieter streets, and the area is well served by tram routes and nearby train stations. It attracts professionals and creatives who want an inner-city lifestyle with close-to-river recreation.

Cremorne property market performance

Current median dwelling price$933,500Past 3 months

Property growth-0.9%Past 12 months

Like many smaller suburbs, this area has relatively few recent property sales, so there isn't enough data to publish a reliable median price for houses or units. The figures that are available show house values fell a modest 2.6% over the last 12 months, while unit values edged up a slight 0.8% over the last 12 months; house values declined more than unit values.

Over the last 3 months there were six house sales and six unit sales. Houses sold in a median of 43 days over the last 12 months, while units sold faster, in a median of 25 days.

The rental market in Cremorne saw average house rents of $850 a week, up a solid 5.6% over the last 12 months, and average unit rents of $680 a week, up a slight 1.5% over the last 12 months. House rents grew faster than unit rents.

HousesUnits
Median price
Past 3 months
N/AN/A
Change in value
Past 12 months
-2.6%0.8%
Sold
Past 3 months
66
Median days on market
Past 12 months
4325
Average rent
Past 12 months
$850$680
Change in rent
Past 12 months
5.6%1.5%

5 year median price trend for houses and units

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Cremorne demographics

Couple families without children are the largest family type, at 64.5%. Together, couple families with children (26.9%) and couple families without children (64.5%) make up 91.4% of reported families, while one-parent families account for 5.5% and other families 3.1%.

The suburb is home to 2,158 people with a median age of 32. The median total household income is $2,959 a week, roughly $154,000 a year.

In Cremorne, homes are slightly more likely to be rented than owner-occupied: 51.0% of dwellings are rented, compared with 49.1% owner-occupied (32.0% owned with a mortgage and 17.1% owned outright).

Suburbs near Cremorne

Some popular suburbs near Cremorne include:

  • Richmond: Inner-city suburb of terrace houses, cafes and longstanding local character.
  • South Yarra: Upmarket suburb with boutique shopping strips and tree-lined streets.
  • East Melbourne: Leafy historic suburb, home to Fitzroy Gardens and grand period homes.
  • Burnley: Small residential suburb with parks and riverside walking paths.
  • Melbourne: Central city suburb with high-rise apartments and major cultural institutions.

How does Cremorne compare to nearby suburbs?

  • Median house prices: Cremorne’s median house price is 2.4% lower than Richmond’s.
  • Median unit prices: Cremorne’s median unit price is 21.6% higher than Richmond’s.
  • House price growth: Over the past 12 months, house prices in Cremorne have grown 2.4% higher than in Richmond.
  • Unit price growth: Over the past 12 months, unit prices in Cremorne have grown 6.3% higher than in South Yarra.
  • Selling speed for houses: Properties in Cremorne are selling 6.5% faster than in Richmond.
  • Selling speed for units: Properties in Cremorne are selling 10.7% faster than in Richmond.
  • Investment considerations: In Cremorne, the rental yield for house is 34.1% higher than the Melbourne average, while the rental yield for units is 15.3% higher.
  • House price growth: Over the past 12 months, house prices in Cremorne have grown 17.1% higher than the average rate of growth across Melbourne.
  • Unit price growth:Over the past 12 months, unit prices in Cremorne have grown 1.9% higher than the average rate of growth for units across Melbourne.

Choose the right real estate agents in Cremorne

In Cremorne ,26 agents are actively selling property, but a small number do the heavy lifting. Just 5 agents handled 30.0% of all sales in the past year, giving them a strong presence and deep experience in the local market.

Commission rates usually sit between 1.71% and 2.57%. Comparing agents and understanding what’s included in their fee structure can help you find the right mix of service, value, and motivation—without compromising on outcomes.

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