Melbourne by numbers | Robert Larocca

Real estate is often about numbers. Everything it seems, from the price of the house to the weekly rent, can be expressed as a number.

Here are five topical numbers as the market enters spring.


This is the number of units in the suburb of Melbourne.apartments_PropertyUpdate

Melbourne has the most individual dwellings of any suburb in the city which will come as little surprise to anyone who has watched the highrise market take off in the last decade.

This is also a very large number in the context of the general density of the city.

By way of contrast, the suburb with the most houses is Reservoir with 13,692 and when you include all the units, the number rises to 20,430, still well short of Melbourne.


With 871 houses sold in the last twelve months Pakenham has recorded the most house sales of any suburb in Melbourne.

The popularity of housing in the suburb is based on many factors, key amongst them is its relative affordability.

Based on the sales in the last year the median price was $337,500 compared $532,000 for Melbourne.


There are now 49 suburbs in Melbourne that have a median house value of $1m or more.

At nearly one in ten sales across the city occurring for a sale price in the million dollar range, it is far more common than it used to be.

What has not changed is the most expensive suburb, Toorak, which had a median value of $2.941m and saw 151 sales for more than a million dollars over the past year.


The median value of a house in Melbourne has grown by 30.4 per cent over the past 5 years.

Only two capital cities have exceeded that over the same time, Sydney and Darwin.

1Diversity Housing

One is the number of suburbs in the cities west that have a median house value of more than one million dollars.

Overlooking the Maribyrnong River and neighbouring the popular Essendon, Aberfeldie has a median house value of $1.04m after a 14 per cent rise in last year.

If you wanted to live there and can afford the price then you will probably need to wait as it is only a small suburb, 1099 houses, and averages only one sale every 6.5 days.


Subscribe & don’t miss a single episode of Michael Yardney’s podcast

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

Need help listening to Michael Yardney’s podcast from your phone or tablet?

We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.


Prefer to subscribe via email?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.

Robert Larocca


Robert Larocca is RP Data's Victoria Housing Market Specialist. He has built a profile over the past eight years as an expert on the Victorian residential property market. Visit

'Melbourne by numbers | Robert Larocca' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.


Copyright © Michael Yardney’s Property Investment Update Important Information
Content Marketing by GridConcepts