Your Agency. Your Neighborhood.
4.5 km

Melbourne Girls Grammar School
Loreto Mandeville Hall
South Yarra Primary School

Fawkner Park
Rockley Gardens
South Yarra Siding Reserve
South Yarra’s population skews young and largely single, shaping strong demand for rental and unit stock:
Population
25,028
Average Age
20 to 39
Owner
36%
Renter
62%
Family
36%
Single
64%
The Baseline Prices: The current (2026) median house price ranges between $1.31M and $3.55M. If you’re looking at apartments and units, the median has held remarkably steady right around $522.5K.

Median
1.74M
Quarterly price change
-13.12%
Median
522.5K
Quarterly price change
3.47%
Key insights to the property market within your suburb.
Auction clearance rate
42.17%
Median days on market
33 days
South Yarra’s investor profile is defined by high rental demand and a unit-dominated market:
Houses
7%
Units
93%
Population
25,028
Population growth
-0.47%
Median age
40 days
Owned Outright
18%
Mortgaged
18%
Rented
62%
Median asking rent per week
$967
Rental yield
2.20%
Median household size
2 people

Much of South Yarra sits within one of three heritage precincts under Stonnington’s Planning Scheme (Clause 43.01): the Toorak Road Precinct (HO150), the Lee Terrace Precinct (HO641), and the Palermo Estate Precinct (HO128).
Each protects a different period of the suburb’s development, and each carries its own permit rules for owners looking to alter, extend, or sell – the kind of detail a general search or a quick desktop valuation tends to miss.
These precincts aren’t fixed.
Stonnington’s Amendment C304ston, reviewed by an independent planning panel in 2021, was officially gazetted and came into effect in March 2023. It split the old HO150 into a purely commercial Toorak Road precinct and created the new HO641 for Lee Terrace, giving that residential pocket its own citation.
HO128 was refined the same way, narrowing its focus to Palermo Estate’s residential streets.
The practical takeaway for owners:
Overlay numbers and controls can shift over time, so it’s worth confirming the current schedule directly rather than relying on old council correspondence or a previous owner’s paperwork.
How can owners speed up the permit process?
Units carry a median price of $520,000, up 4% this quarter. With apartments making up 93% of local stock, this is the more reliable figure for buyers than the suburb’s house price. Most properties sell within a median of 34 days on the market.
South Yarra’s overall median asking rent is currently $964 per week across all dwelling types. Two-bedroom apartments tend to sit at the upper end of this range, generally on par with, or slightly above, comparable stock in neighbouring Richmond and Prahran. For an exact figure, we’d recommend checking a live listings platform, as these numbers shift week to week.
Daly Street is closest to South Yarra Railway Station and has nearby tram and bus access. It’s also within walking distance of the Chapel Street–Toorak Road retail strip.
Comparing sales volume across individual agencies requires licensed sales data we don’t have verified access to for this page. A fairer gauge for buyers and sellers is an agency’s local presence, its grasp of heritage overlays, and its transparency about fees.
You should go for agencies with an established presence over broad metro coverage in South Yarra, since local knowledge shapes pricing accuracy here. Also, look for a walk-through appraisal rather than a desktop estimate, and get a clear idea of how constraints of old homes affect their market value.
Apartments come with a lower entry price and lower upkeep, and rental demand here has stayed strong. Where they fall short is yield – currently 2.39% – and there’s real competition for anything well-located.
Houses are the scarcer option, making up only 7% of South Yarra’s housing stock, which gives them land value and more room to renovate. They also cost more upfront, sell less frequently, and often bring higher maintenance bills.
Someone chasing lifestyle or long-term growth might lean toward a house; an investor watching cash flow will usually find the apartment market a better fit.
Toorak Road has been the suburb’s commercial spine since the 19th century, and it’s still where most of the shops, restaurants and everyday services sit.
Away from the main strip, pockets like Lee Terrace and Palermo Estate hold onto a distinctly Victorian residential character, quieter and largely unchanged.
It’s this contrast – a busy retail road running alongside these heritage streets – that gives South Yarra its particular feel.
A good place to start is checking who’s actually sold nearby recently, rather than agents claiming broad Melbourne-wide coverage.
Besser & Co has built its practice around South Yarra specifically, covering sales, leasing and property management, with working knowledge of Toorak, Prahran and Armadale too. That local grounding tends to matter most when a heritage overlay affects what a property can sell for, or what a buyer could realistically do with it.
Commission generally includes photography, online listings, signage, and open inspections – though some agencies bill marketing as a separate line item, so it’s worth asking upfront.
Beyond that, expect an actual in-person appraisal rather than a desktop estimate, along with pricing based on comparable local sales.
Given how much heritage rules shape value here, a South Yarra agent worth using should be able to walk you through how overlays might affect your asking price or your buyer pool.