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melbourne inner suburbs

Our guide to Melbourne’s inner suburbs

December 2, 2019 10:00 am by Upside

With a huge variety of restaurants, cafes and entertainment options, it’s easy to see why Melbourne’s inner suburbs are an attractive prospect for many types of buyers.

But if you’re looking to buy a house in Melbourne, which suburbs top the list in the city fringe and inner city in Melbourne? We’ve rounded up some of the top central spots to buy real estate in Melbourne.

1. Richmond

3km south-east of the CBD, Richmond boasts a unique village atmosphere just a stone’s throw away from the city. Despite being shadowed by a towering skyline, Richmond has plenty of charm that attracts a diverse population of both young and old residents, as well as families. With a local train station, major supermarkets, restaurants, and a variety of freestanding homes and apartments, this suburb offers plenty of appeal for people wanting to buy near the city.

Median house price: $1,175,000 Median unit price: $573,500

2. Collingwood

North-east of the CBD lies Collingwood, one of Melbourne's hippest neighborhoods. The suburbs’s blue-collar origins are evident in its workers’ cottages and converted warehouses, which today are home to galleries, cafes and quirky shops. It’s relatively densely packed, so it might not suit buyers looking for a big backyard, but there’s plenty on offer for those looking for convenient living in a renovated Victorian cottage or terrace.

Median house price: $885,000 Median unit price: $560,000

3. North Melbourne

A stylish neighbourhood on the northern fringe of the city, North Melbourne has left behind its working-class roots and transformed into a trendy enclave over the past couple of decades. With its gently sloping streets of Victorian terraces and old cottages, North Melbourne has a charming village feel, and is well serviced by trams, buses and North Melbourne train station.

Median house price: $1,094,500 Median unit price: $431,000

4. Northcote

In recent years, Northcote has blossomed into a vibrant multicultural hub that still manages to maintain its relaxed atmosphere. Wander along High Street and you’ll come across cafes and eateries, local boutiques, art spaces, bike lanes and the Westgarth Cinema. When it comes to housing in Northcote, you’ll find an eclectic mix of old-school and renovated homes as well as new apartments.

Median house price: $1,280,500 Median unit price: $545,000

5. St Kilda

St Kilda is one of Melbourne’s Bayside jewels. At 6km south-east of the CBD, it’s a little further out than some other inner Melbourne suburbs, but nonetheless has stacks to offer for those who appreciate a beachy vibe and café lifestyle. While St Kilda’s Victorian mansions are the area’s most distinct feature, there are various housing styles in the area, from Spanish Mission-style buildings to Art Deco apartment blocks and Victorian terraces and cottages.

Median house price: $1,530,000 Median unit price: $513,372

6. South Yarra

If it’s polish and prestige you’re looking for, you’ll find both in spades in South Yarra, 4km south-east of Melbourne’s CBD. The epitome of luxurious inner-city living, South Yarra is home to opulent heritage mansions sitting alongside new apartments and Victorian terraces. Thanks to its premium real estate, leafy streets and riverside setting, South Yarra commands some of the highest Melbourne property prices in the inner city area.

Median house price: $1,600,000 Median unit price: $570,000

7. Carlton

Nearby universities and an Italian heritage give Carlton an urbane, multicultural flavour. Lygon Street is the heart and soul of this suburb, where you’ll find a tempting strip of Italian restaurants and cafes, as well as long-running arthouse cinema theatre Cinema Nova. Carlton is home to impressive double- and single-storey Victorian-era terraces, marked by intricate wrought-iron picket fences and small but stylish sculpted gardens.

Median house price: $1,310,000 __Median unit price: __$347,000

8. Fitzroy

3km north-east of the CBD, Fitzroy is a character-filled suburb known for being a hub of all things quirky and eccentric. Brunswick Street is a trendy retail and nightlife strip, while Gertrude Street is dotted with design and art-supply stores, wine bars and hip eateries. As one of the city’s oldest suburbs, Fitzroy is also home to some of the most distinctive real estate in Melbourne, most notably its clusters of charming terraces.

Median house price: $1,317,250 Median unit price: $705,000

Whether you’re thinking of buying or selling, see why Upside is one of the top-rated real estate agents in Australia. Check out our property listings, or start your journey with a free property appraisal.

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