Property types in South Yarra

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The suburb of South Yarra is located quite close to the central business district of Melbourne. Thus, it enjoys the reputation as being one of the most upscale areas in the entire city. Staying in line with many of the existing locations in Victoria, South Yarra can trace its roots back to the early and middle parts of the nineteenth century when Melbourne was a popular shipping port and Victoria was becoming famous as a gold rush location in Australia.

One of the striking characteristics in regards to South Yarra is that unlike many neighbouring suburbs that were one focused on industrial works, this location has always been considered to be a rather wealthy area that was designated as a retreat for high-income individuals. Therefore, much of the original Victorian architecture remains as it appeared during the latter part of the nineteenth century.

Still, in the 1920s and 1930s, many mansions and larger gardens were subdivided into individual plots of land and apartments started to become the dominate features of many areas. Notwithstanding this slight change, South Yarra is the home to a number of unique attractions. Perhaps the most well-known is Chapel Street; considered to be one of the most fashionable retail centres in all of Melbourne. Other landmarks such as the Regent Theatre and The Jam Factory draw much attention from both historical societies and visiting tourists.

The reputation of South Yarra as a haven for the well-off has continued into the 21st century and it is for this reason that this suburb boasts some of the highest priced parcels of land and properties within all of Victoria. In fact, price records for residential properties have been set in numerous areas around the centre of South Yarra. This trend is only expected to continue into the future, as this region will remain popular amongst the upper classes within Melbourne.
Average price in South Yarra
Average price per  m2  $1,009
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Average price per  m2  $1.18
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