PREMIER INNER CITY LIVING
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I have lived in South Yarra and think it is great. Circa 4 km south east of the CBD, it is very expensive (median house price 2022 – $2.02m), but rightfully so given the quality of living it provides.
In the 1920s/30s subdivision of the large mansions saw the building of a large number of apartments – albeit low rise. Some of these – particularly the ornate Deco and Spanish Mission – are now highly desirable. The two seven-storey Beverley Hills apartments (1935-6) is a good example.
The housing stock also features Victorian and Edwardian terraces, townhouses and a relatively small volume of public housing.
Perhaps the most desirable section is the Domain Precinct – bordered by Punt, St Kilda, Toorak Road and Alexandra Avenue. Its desirability is driven by the proximity of the Botanical Gardens and tan track – which add to the “leafy” feel of the surrounding streets, and the “village” feel of Domain Road shops, cafes and restaurants. The Lawson Grove Shop café is my preferred coffee spot if I’m in between inspections in South Yarra.
As a Melbourne buyers agent, a sub-segment of the market you need to be very careful in in South Yarra is the high end (circa $4m plus) apartment stock – usually marketed by high profile architects – but I think represent poor value and characterised by, in some instances, fundamentally poor design features such as lack of light and disproportionately small outdoor entertaining spaces.
Another area to avoid buying into is the Forest Hill precinct bordered by Toorak Road, Alexandra Avenue, Chapel Street and the the railway line – it is very densely populated and, in my view, best avoided.
Toorak Road and Chapel Street have lost their former allure as Melbourne’s “go to” retail/dining destinations but still offer plenty for the shopper and foodies. The Windsor end of Chapel Street has developed into one of the hippest stretches in Melbourne with local independent (rather than chain) outlets – small cafes, bars and restaurants, galleries, fashion homewares and more.
It is a wonderful suburb for foodies with Prahran market – great quality and good diversity but albeit a bit more expensive than other food markets. There are also numerous cafes, restaurants in adjoining Prahran and Windsor, adding to your gastronomy options.
I find South Yarra challenging for both finding a car park and driving generally. Chapel Street and Toorak are nearly always busy. However, the CBD is only circa 10 minutes by train from South Yarra station. There is also a train station at Hawksburn in the eastern section of the suburb.
Tram routes 58, 72 & 78 are another public transport options.
No excuse for missing a film if you live in South Yarra with the 15-screen Jam Factory complex on Chapel Street and a six-screen Palace Movies complex in the Como Centre. In the summer, the Botanical Gardens hosts Moonlight Cinema – one of my favourite events.
I can’t think of another inner city Melbourne suburb that has access to the volume of high quality park space, the most obvious being the Botanical Garden and “the tan” running/walking round its exterior, Fawkner Park and the parklands lining Yarra river.
The beaches between Albert Park and St Kilda are also relatively close, as is Albert Park lake. Yet another reason to consider buying a property in South Yarra if it is within your budget.
Last update: 9 Feb 2023