If you’re looking for a traditional suburb in Melbourne, but you still want to remain within driving distance of the heart of the Central Business District, then you won’t go wrong with South Yarra. It has a population of roughly 20,000 people and is named after the iconic Yarra River – which just so happens to run directly through this suburban region.
Punt Road is on the east, which can lead you right back to the Heart of Melbourne (just under 4km away). As a result, property prices can be a little bit more expensive than when considering other parts of the state – but that’s where a great mortgage broker in Melbourne can come in handy!
What does South Yarra have to offer?
With plenty of historical features, nearby landmarks and a host of activities and sources of entertainment to enjoy – this suburb is easily one of the most appealing in the region. The local Chapel Street plays host to a stunning variety of retail outlets, nightclubs, cafés, eateries and much more.
The entire suburb is considered one of the most open in Melbourne, with an active gay and lesbian community and a very low crime rate. Pair that with the history of the location – a history that dates back to natural Aboriginal nations - and you have a region that’s as historic as it is attractive. The homes come in all shapes and sizes and vary in prices, but that brings us on to our next piece of info.
Property prices within Southern Yarra
Unless you have a budget of more than $1.5 million AUD, you might be better off looking elsewhere. This region is very prominent and this is demonstrated by the fact that average homes are currently valued at about $1,700,000 AUD, with higher quality (and larger) ones carrying a price tag of just under $2.3 million AUD on average.
With a good broker at your side, you won’t have to worry too much about being able to afford to borrow cash from a bank – and once you’ve bought your new home in S. Yarra, we have no doubt that you’ll enjoy it for a lifetime.