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East Melbourne suburb profile

East Melbourne is an elegant inner-city suburb just east of Melbourne's CBD, defined by its leafy streets, grand Victorian terraces and pocketed mansion blocks that back onto some of the city's oldest gardens. Residents live amid Fitzroy Gardens and Treasury Gardens, with Parliament House and the sporting precinct around the MCG and Melbourne Park nearby, so the suburb balances quiet residential character with civic and eventful neighbours. Housing is largely period homes and early 20th century apartments, often renovated into townhouses, and everyday life centres on green space, city access and reliable public transport including Jolimont station.

East Melbourne property market performance

Property growth-10.8%Past 12 months

Houses don't come up for sale often in East Melbourne, so there isn't enough recent data to publish a reliable median house price. The median unit price is $585,000. Over the last 12 months house values fell sharply, down 11.4%, and unit values also fell sharply, down 10.2%, so both moved at a similar pace.

Over the last 3 months 9 houses and 39 units changed hands. Over the last 12 months houses sold in a median of 44 days and units in 46 days, so they sold in a similar time.

The rental market in East Melbourne averaged rents of $1,200 for houses and $650 for units over the last 12 months. House rents rose a solid 9.1% over the 12 months while unit rents rose a modest 4.8%, so house rents grew more strongly than unit rents.

HousesUnits
Median price
Past 3 months
N/A$585K
Change in value
Past 12 months
-11.4%-10.2%
Sold
Past 3 months
939
Median days on market
Past 12 months
4446
Average rent
Past 12 months
$1200$650
Change in rent
Past 12 months
9.1%4.8%

5 year median price trend for houses and units

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East Melbourne demographics

A community of 4,896 people has a median age of 42 and a typical household income of $2,345 a week, roughly $121,940 a year.

Families are heavily weighted towards couples without children, who make up 71.1% of families, while couple families with children account for 19.2%. One-parent families are 7.0% and other families 2.7%.

Homes in East Melbourne are more often rented than owner-occupied: 54.1% of dwellings are rented compared with 45.9% owner-occupied (27.6% owned outright and 18.3% owned with a mortgage).

Suburbs near East Melbourne

Some popular suburbs near East Melbourne include:

  • Melbourne: the central business district around the Yarra River and cultural precincts.
  • Collingwood: creative, eclectic suburb with cafe culture and converted warehouses.
  • Southbank: riverside precinct of high-rise apartments, arts centres and eateries.
  • Cremorne: creative and commercial suburb with warehouses converted to offices and studios.
  • Richmond: inner-city suburb known for lively dining, shopping strips and sporting venues.

How does East Melbourne compare to nearby suburbs?

  • Median unit prices: East Melbourne’s median unit price is 34.5% higher than Melbourne’s.
  • House price growth: Property prices in nearby Collingwood have risen 22.0% more than in East Melbourne over the past year.
  • Unit price growth: Over the past 12 months, unit prices in East Melbourne have grown 6.7% higher than in Melbourne.
  • Selling speed for houses: Properties in East Melbourne are selling 4.3% faster than in Richmond.
  • Selling speed for units: Properties in East Melbourne are selling 16.4% faster than in Southbank.
  • Investment considerations: In East Melbourne, the rental yield for house is 89.3% higher than the Melbourne average, while the rental yield for units is 10.2% higher.
  • House price growth: Over the past 12 months, house prices in East Melbourne have grown 185.4% higher than the average rate of growth across Melbourne.
  • Unit price growth:Over the past 12 months, unit prices in East Melbourne have grown 7.8% higher than the average rate of growth for units across Melbourne.

Choose the right real estate agents in East Melbourne

Choosing the right real estate agent in East Melbourne can have a big impact on your sale. While there are 63 real estate agents working in the suburb, but just 5 of them were responsible for 55.0% of all property sales over the past year, showing a strong footprint and track record in the area.

Commission rates typically range from 1.8% to 2.47%, depending on the agent and what’s included. Comparing both performance and fee structures can help you find someone who's well-suited to your needs, and set them up for a successful result.

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