Melbourne vs Southbank
Melbourne (median $381,000) is roughly 9% cheaper to buy into than Southbank ($418,000).
Buying in Melbourne or Southbank?
Selling in Melbourne? The free selling guide
Melbourne and Southbank side by side
| Measure | Melbourne | Southbank |
|---|---|---|
| Price and market | ||
| Median house | $381,000 | $418,000 |
| Median unit | $567,500 | $549,800 |
| Renting | ||
| Unit rent | – | $720/wk |
| Owner occupied | 26.0% | 30.0% |
| Renter occupied | 71.0% | 67.0% |
| Schools | ||
| Schools nearby | 20 | 20 |
| Average ICSEA | 1042 | 1092 |
| Lifestyle and people | ||
| Walk score | 100 | 100 |
| Transit score | 100 | 100 |
| Bike score | 100 | 100 |
| Population | 54,941 | 22,631 |
| Median age | 29 | 31 |
| Climate | ||
| Annual rainfall | 582 mm | 578 mm |
| Mean max, January | 26.9°C | 26.6°C |
Green dot: better on that measure (lower price, higher growth, higher walkability, lower risk). Each suburb’s profile gives the source and period of its figures.
Which suits whom
On school quality, the average ICSEA across schools serving Southbank (1092) sits above Melbourne (1042).
- For buyers
- Melbourne is the lower entry point at $381,000 median, 9% below the other suburb. For first home buyers, that translates to a smaller deposit and lower stamp duty bill.
- For investors
- Rental or growth data is incomplete for one or both suburbs. Look at the full investor view on each suburb profile for a complete picture.
- For families
- Southbank edges out on average school ICSEA (1092 vs 1042).
Melbourne vs Southbank: common questions
Is Melbourne or Southbank cheaper to buy in?
Melbourne has the lower median house price at $381,000, roughly 9% below Southbank ($418,000). The gap on units is usually similar but worth checking on the full suburb profiles.
Does Melbourne or Southbank have better schools?
On average school ICSEA (the ACARA index that benchmarks educational advantage), Southbank scores 1092 vs 1042 in Melbourne. ICSEA is a school-community indicator, not a quality rating, so always check NAPLAN results and catchment boundaries for the specific address you're considering.
Keep comparing
The two suburbs
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