Southbank

POSTAL CODE: VIC, 3006
UNIT

Based on its average 5-year and quarterly capital gains SOUTHBANK, 3006 saw average growth in the long term.

Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Profits due to an downward trend in home prices in SOUTHBANK, 3006 averaged -0.7% per annum over a 3-year period.

Average weekly rents on listings have reached the $700 mark, reflecting a 7.14% increase in returns based on the current median price in SOUTHBANK.

An average of 47.67 real estate transactions take place per month in SOUTHBANK which translates to 572 per annum.

572 properties were sold in SOUTHBANK during the past year, making it the 86th most active market in VIC based on total real estate transactions.

SOUTHBANK, 3006 places 167th in Australia based on median property value growth during the quarter.

Surburb overview

Southbank, with the postcode 3006, is an inner-city suburb located approximately 1 kilometre south of Melbourne's Central Business District (CBD). According to the 2021 census, it has a population of 22,631 residents. The suburb is characterised by a youthful demographic, with a significant proportion of residents aged between 20 and 39. Additionally, Southbank is known for its multicultural community, with many residents born overseas. 

Public transportation in Southbank is well-developed, offering residents convenient access to various parts of Melbourne. The suburb is serviced by multiple tram routes, including the 1, 12, 58, and 96 lines, facilitating easy travel to and from the CBD and surrounding areas.  Additionally, several bus routes operate through Southbank, providing further connectivity options. 

Southbank has various essential establishments, including educational institutions, healthcare facilities, and shopping centres. The suburb's proximity to the CBD ensures residents have access to a wide array of services and amenities. Notably, Southbank is adjacent to major hospitals and healthcare centres, ensuring residents can access comprehensive medical services.  The area also boasts a variety of cafes, restaurants, and boutique shops, contributing to a vibrant local economy.

Recreational activities are abundant in Southbank, with numerous parks and green spaces available for public use. The picturesque Fitzroy Gardens, manicured lawns, tranquil walking paths, and historic landmarks provide an idyllic escape for nature lovers and outdoor enthusiasts alike.  Additionally, the suburb's proximity to sporting facilities and fitness centres caters to active residents seeking to maintain a healthy lifestyle close to home.

Southbank offers urban convenience and suburban tranquillity, making it a desirable location for diverse residents. 

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