Toorak the most expensive Melbourne suburb to purchase property: REIV
Staff reporterMay 18, 2017
Toorak is the most expensive locality in Victoria to purchase a property, according to REIV’s latest data.
The median price for a property in Toorak is around $4 million.
This is followed by Malvern with $3.1 million and Canterbury with $3 million.
The least expensive place is Preston with an average median of $1 million.
REIV Million Dollar Suburbs
* denotes less than 30 sales in the quarter
| Suburb | Mar-17 Median |
| Toorak | $4,000,000 |
| MALVERN* | $3,010,000 |
| CANTERBURY* | $3,000,000 |
| BRIGHTON | $2,906,000 |
| Hawthorn EAST* | $2,637,000 |
| CAULFIELD NORTH* | $2,327,000 |
| CAMBERWELL | $2,295,000 |
| Balwyn | $2,290,000 |
| Hawthorn* | $2,265,000 |
| Kew | $2,165,000 |
| MONT ALBERT* | $2,130,000 |
| EAGLEMONT* | $2,064,000 |
| ARMADALE* | $2,050,000 |
| ST KILDA EAST* | $2,010,750 |
| SOUTH YARRA* | $2,005,000 |
| ELSTERNWICK* | $2,000,000 |
| ALBERT PARK* | $1,925,000 |
| Balwyn NORTH | $1,925,000 |
| HAMPTON* | $1,922,500 |
| GLEN IRIS | $1,900,000 |
| BLACK ROCK* | $1,880,000 |
| Kew EAST* | $1,878,000 |
| MCKINNON* | $1,850,000 |
| BRIGHTON EAST | $1,840,000 |
| CAULFIELD* | $1,833,000 |
| ASHBURTON* | $1,800,000 |
| SANDRINGHAM* | $1,800,000 |
| BOX HILL* | $1,750,000 |
| PORT Melbourne* | $1,735,000 |
| CARLTON NORTH* | $1,730,000 |
| MALVERN EAST | $1,725,000 |
| Caulfield South* | $1,635,000 |
| FITZROY* | $1,635,000 |
| South Melbourne* | $1,620,000 |
| LOWER PLENTY* | $1,602,500 |
| IVANHOE* | $1,589,500 |
| ORMOND* | $1,589,000 |
| FLINDERS* | $1,581,750 |
| PRAHRAN | $1,581,251 |
| WONGA PARK* | $1,580,000 |
| WINDSOR* | $1,570,000 |
| GLEN HUNTLY* | $1,563,000 |
| TEMPLESTOWE | $1,552,000 |
| SURREY HILLS* | $1,510,000 |
| PARK ORCHARDS* | $1,507,500 |
| RICHMOND | $1,482,500 |
| BEAUMARIS | $1,475,000 |
| ESSENDON | $1,470,000 |
| NORTHCOTE | $1,462,000 |
| BRUNSWICK EAST* | $1,454,750 |
| MONT ALBERT NORTH* | $1,450,000 |
| BENTLEIGH* | $1,448,000 |
| BOX HILL NORTH* | $1,442,000 |
| FITZROY NORTH* | $1,440,500 |
| ST KILDA* | $1,435,000 |
| BURWOOD* | $1,432,500 |
| MOONEE PONDS* | $1,432,500 |
| CLIFTON HILL* | $1,430,000 |
| ELWOOD* | $1,430,000 |
| MURRUMBEENA* | $1,421,000 |
| CLAYTON* | $1,415,000 |
| BOX HILL SOUTH* | $1,406,000 |
| GLEN WAVERLEY | $1,395,000 |
| MOUNT WAVERLEY | $1,390,000 |
| WARRANDYTE* | $1,387,500 |
| HAMPTON EAST* | $1,365,000 |
| BLACKBURN | $1,350,000 |
| CARNEGIE* | $1,350,000 |
| DONCASTER | $1,346,750 |
| ASHWOOD* | $1,346,625 |
| WILLIAMSTOWN | $1,343,750 |
| PARKDALE* | $1,332,000 |
| ABERFELDIE* | $1,322,500 |
| COLLINGWOOD* | $1,320,000 |
| Highett* | $1,295,000 |
| ASCOT VALE* | $1,292,000 |
| ABBOTSFORD* | $1,290,000 |
| SORRENTO* | $1,281,000 |
| BULLEEN* | $1,272,500 |
| BRUNSWICK | $1,271,000 |
| Mount Eliza | $1,270,444 |
| BENTLEIGH EAST | $1,270,000 |
| THORNBURY* | $1,256,000 |
| KENSINGTON* | $1,247,500 |
| OAKLEIGH EAST* | $1,228,000 |
| BLACKBURN SOUTH* | $1,212,000 |
| DONCASTER EAST | $1,210,000 |
| MENTONE* | $1,200,000 |
| DONVALE* | $1,195,000 |
| BALACLAVA* | $1,185,000 |
| BRUNSWICK WEST* | $1,180,000 |
| TEMPLESTOWE LOWER* | $1,170,750 |
| VERMONT SOUTH* | $1,151,000 |
| BLACKBURN NORTH* | $1,150,000 |
| NARRE WARREN NORTH* | $1,133,000 |
| MITCHAM* | $1,125,000 |
| BURWOOD EAST* | $1,119,750 |
| STRATHMORE* | $1,105,000 |
| NEWPORT | $1,100,000 |
| WATERWAYS* | $1,100,000 |
| FOREST HILL* | $1,096,000 |
| ROSANNA* | $1,095,000 |
| KINGSVILLE* | $1,085,000 |
| NIDDRIE* | $1,065,000 |
| EDITHVALE* | $1,059,000 |
| ASPENDALE* | $1,055,000 |
| VIEWBANK* | $1,052,500 |
| CHELTENHAM | $1,050,250 |
| MOORABBIN* | $1,043,000 |
| OAKLEIGH* | $1,029,000 |
| SEDDON* | $1,028,500 |
| CHELSEA* | $1,025,000 |
| VERMONT* | $1,020,000 |
| WHEELERS HILL | $1,015,000 |
| Chadstone* | $1,013,500 |
| MOUNT MARTHA | $1,012,500 |
| BONBEACH* | $1,005,000 |
| YARRAVILLE | $1,001,000 |
| COBURG | $1,000,000 |
| PRESTON | $1,000,000 |
A three bedroom house at 9 Devorgilla Avenue, Toorak (above) was sold recently in April this year for the median price range.
Similarly a four bedroom house at 10 Church Street, Toorak (below) was sold recently in March this year for $4.6 million.
Property Observer previously reported that homes at Templestowe scored the highest for quarterly median price growth.
