Moving to Melbourne - Most Expensive Suburbs

[Guest The Pom Queen]

So where are Melbourne’s most expensive suburbs? 

Unsurprisingly Toorak topped the list of most expensive suburbs in Melbourne, followed by Deepdene and Canterbury. Scroll down further for the full list.

Melbourne’s most expensive neighbourhoods range in price from $1.95m – $3.4million, realestate.com.au/invest data from 15 May 2015 – 15 May 2016 shows.

These figures represent the median sold price for properties in these areas and are for suburbs with at least 10 sales within that twelve month period.

But what is it that attracts buyers to these upmarket areas?

1. Toorak – $3,400,000

This Toorak property is currently on the market for expressions of interest.

Long associated with those at the top end of town, Toorak offers stylish boutiques, excellent cafes and restaurants and relatively quiet tree-lined streets less than 10kms from Melbourne’s CBD.

Historically home to some of Melbourne’s most impressive mansions and increasingly newly built stately homes, the suburb also boasts several prominent private schools.

2. Deepdene – $2,710,000

This 1525 sqm Deepdene property is currently for sale.

This small, leafy pocket sits between Balwyn and Kew in Melbourne’s east.

Home to cafes and boutique shops, the median weekly household income in Deepdene is $1834.

3. Canterbury – $2,418,500

Expressions of interest for this Victorian gem in Canterbury close on May 24.

This well-heeled suburb is also home to a range of prestigious private schools and is where Kylie and Dannii Minogue grew up.

Famous for the Gold Mile on Mont Albert Road, properties in the tree-lined streets consistently rank among Melbourne’s most expensive.

4. Middle Park – $2,290,000

Buyers in Middle Park with deep pockets could purchase this $6.1m Federation house.

Home to a mix of young families and older independent residents, Middle Park is just 4kms from the CBD and offers great cafes and shops in a relatively quiet area.

Strict heritage conservation rules have seen the area maintain its old world charm, though increasingly properties are being modernised out the back with infinity pools and impressive outdoor decks.

5. Balwyn – $2,200,000

This luxury Balwyn home is currently on the market.

Period homes and access to private schools and noted public school Balwyn High are among Balwyn‘s main attractions.

Quirky shops, an old-school cinema and cafes are also features of this stylish suburb.

6. St Kilda West –  $2,137,750

This Edwardian property sits on a 1133sqm block in St Kilda West and is currently for sale.

The tree-lined planned streets of St Kilda West are teeming with Victorian and Edwardian homes and the great local cafes and restaurants are popular with the area’s mix of young singles and older more established residents.

St Kida West is also home to numerous public parks and has great access to public transport.

7. Brighton – $2,137,500

Built in 1880, Melville is currently on the market.

Home to boutique shops and cafes in a beachside area, Brighton offers a relaxed holiday lifestyle just 11km from Melbourne’s CBD.

8. Armadale – $2,122,500

This refurbished 1930s house in Armadale is currently on the market.

Armadale, which borders Toorak, has long been regarded as one of Melbourne’s premier suburbs.  With its tree-lined streets it’s also home to private schools, great shopping, cafes and restaurants.

9. Malvern – $2,105,500

This high-end Malvern home is currently on the market.

Located 8km south-east of the city, Malvern is known for its parks, shopping and family-friendly lifestyle.

10. Kew – $1,950,000

This high-end Wiltshire Drive home in Kew is currently on the market.

Known for its Victorian and Art Deco homes as well as the many shops, cafes and restaurants in and around Kew Junction, this area attracts established couples and families as well as independent singles.