The richest streets in Melbourne revealed

By:

There is no shortage of idyllic streets, extravagant properties and exclusive postcodes in Victoria’s capital.

Melbourne property prices suffered because of its extended lockdowns, which severely impacted market activity, but Melbourne’s property market has been soaring lately.

Although median property prices don’t come close to those over in Sydney’s most elite postcodes, the Melbourne property market has now reached it’s previous peak of 2017 and house prices are likely to experience double digit growth this year.

So it’s unsurprising that recent data from the Australian Taxation Office (ATO) has revealed there are some postcodes in Victoria’s capital where residents are among some of the wealthiest in the country.

Here is where the richest of the rich live.

3142 (Toorak)

Hawksburn Melbourne

Average income: $196,816

Population: 10,219

Median property price: $4.3 million

The average income of residents in the 3142 postcode is among Australia’s highest at $196,816.

icon-podcast-large

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.

icon-email-large

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.


About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media. Visit Metropole.com.au


'The richest streets in Melbourne revealed' have 2 comments

    Avatar for Michael Yardney

    February 28, 2021 Dyllen

    Great blog, Michael. I love those rich suburbs of Melbourne.

    Reply


Would you like to share your thoughts?

Your email address will not be published.
CAPTCHA Image

*


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