Get a property report and suburb profile for any property in South Yarra

South Yarra sits on the southern bank of the Yarra and centres on the busy shopping and dining strips of Chapel Street and Toorak Road, with the green expanse of Fawkner Park at one edge. Quiet residential streets contain Victorian terraces, interwar homes and tree-lined avenues, while apartments cluster around the station and retail strips. The suburb attracts young professionals, established families and older residents who value café culture, boutiques, bars and easy access to riverside and parkland recreation. It is home to 25,028 people with a median age of 33 and a typical household income of $2,063 a week (roughly $107,300 a year).

Public transport is straightforward around South Yarra station and several tram routes, and recent upgrades and tram and bike improvements have strengthened local links. Planning work for the station precinct, open space and the local centre is active, and the local library has had short-term building works. That combination of shops, parks and strong transport connections tends to suit renters and commuters as well as longer-term residents; whether it fits you depends on what you want from a suburb.

Housing costs in South Yarra sit unevenly against local incomes at the last Census. A median house price of $1,737,600 is about 16.2 times a typical local household's annual income at the last Census, which sits well above local incomes, while the median unit price of $522,500 is about 4.9 times a local year's household income, somewhat above local incomes. On the rental side, the average house rent of $950 a week would take about 46.1% of a typical local household's weekly income at the last Census, a large share, and the average unit rent of $630 a week would take about 30.5%, a sizeable share.

If you're renting rather than buying, the rent share figures are likely the most immediately relevant; if you're looking to buy, the price multiples show how purchasing compares with what a typical local household earned at the last Census. Whether that feels expensive depends on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

The recent figures for South Yarra show house median values fell 11.0% over the past 12 months, a sharp decline, while unit median values declined 5.5%, a solid fall. That means both sides of the market showed year-on-year capital value reductions, with houses down more steeply than units.

By contrast, unit rents rose 5.0% over the same period, a solid increase, so for units rental income moved in the opposite direction to capital values. If rental income is your main concern, the unit rent change is the most relevant figure; if capital growth is your priority, the value changes above are the figures to consider. Whether that mix suits your goals depends on your circumstances and objectives.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.