South Yarra, Melbourne: the ultimate blue chip suburb
Few towns surrounding Melbourne have the same allure as South Yarra Photo Getty
It is the one thing smart property investors are continually on the lookout for: opportunities to buy quality properties in blue chip suburbs.
Their excellent location and beautiful streetscapes, coupled with access to great local amenities and infrastructure ensures their appeal will never fade.
With its famous liveability, it is no surprise that Melbourne has its fair share of blue ribbon suburbs; however, few have the allure of South Yarra.
Location and lifestyle
Situated on the banks of the Yarra River, a mere 4km from Melbourne’s CBD, South Yarra is perfectly positioned, right in the heart of the action.
With one of the highest walkability scores (92/100) of any suburb in Melbourne, South Yarra’s charms are easily accessible on foot. Coupled with extensive public transport services, getting about quickly and easily is no trouble for local residents.
South Yarra is also popular for all the reasons you’d expect; it’s home to all of the lifestyle amenities that modern Melburnians love – including the holy trinity of good food, good coffee and good shopping.
The main shopping and entertainment strips of Toorak Road and the famed Chapel Street are full of quirky art galleries and charming boutiques, which vie for space with upmarket designer stores and big brand retailers.
South Yarra is also brimming with some of Melbourne’s best bars, cafes and restaurants. Toorak Road in particular is home to many celebrated establishments including A La Bouffe, Bistro Gitan and France Soir, three of Melbourne’s most loved French restaurants.
A diverse suburb that suits many markets
From young professionals through to career-established city workers and families, South Yarra is home to a wide array of people.
Whether they are out spending up a storm, enjoying a delicious meal or relaxing in its many parks and open spaces – including the Royal Botanical Gardens which lie right on its doorstep – South Yarra residents love nothing better than to revel in the pleasures their suburb offers.
South Yarra is also highly-prized for its establishment schools, including Melbourne High School whose 1930s gothic-styled main building is a local landmark.
Melbourne Girls Grammar School’s Merton Hall campus is also just a short walk away, as is Melbourne Grammar School, whose famous grounds on St Kilda Road can be easily reached by tram from South Yarra station.
South Yarra’s investment credentials
With its blue chip status, South Yarra has enjoyed strong historical price growth and ongoing demand from renters and buyers alike.
The latest data from CoreLogic shows that the median house price in South Yarra has increased in value at an average annual rate of 8.85 per cent, while units have grown by an average annual rate of 4.19 per cent over the last decade.
With around 60% of residents identifying as tenants, the suburb enjoys a robust rental market as well as strong population growth overall. Figures from the City of Melbourne show that South Yarra’s population will grow 10% in the next twenty years, with the majority of people living in lone person households.
Strong growth, excellent amenities and infrastructure, and an exclusive lifestyle are the trademarks of a blue chip suburb. As South Yarra boasts all of these and more, its status as a suburb that will continue to grow in appeal and value couldn’t be safer.
