Melbourne suburbs with soul - October 2024

By Rich Harvey, CEO & Founder, propertybuyer.com.au

For decades, the New South Wales Central Coast region was in a property market holding pattern. It was flying under the radar of homebuyers and investors alike. But COVID’s significant upheaval brought the region into the limelight. Now, a raft of drivers across the political and economic spectrum will deliver exciting times to the Central Coast – and those who own property will be among the biggest beneficiaries.
Anthony Knight, Principal buyers’ advocate for Propertybuyer on the Central Coast, has lived in the region for decades. We recently chatted about the region and why he’s excited about what’s to come.

Some property markets really do have an X-factor that consistently draws people in to be part of the local community. These “suburbs with soul” have all the right ingredients, creating something somewhere that’s more than the sum of its parts. Areas where familiarity, contemporary cool and history often meet, creating a magnetic attraction that drives consistent demand for housing.

In this article I wanted to unearth Melbourne’s suburbs with soul – and who better to ask than our on-the-ground Propertybuyer expert, Tass Pattas.

Tass is an experienced professional and Melbourne local who’s opened up about suburb clusters with a “special something” for those buyers seeking a hot property prospect.

Deepdene/Balwyn/Balwyn North

These suburbs positioned around 10 kilometres east of the CBD have loads of cachet among high-end buyers. The area has historically attracted professionals such as white-collar expat workers and successful business owners. These demographics drive demand and it’s easy to see why they’re drawn to these addresses.

There’s a mix of diversified housing available from turn of the century heritage homes, pre- and post-war dwellings and more contemporary designs. The median house price in Balwyn is around $2.9 million according to realestate.com.au – keeping in mind attached housing will track below this figure for those with a tighter budget.

Fintona and Balwyn High Schools have a local and international reputation as outstanding institutions that’re central to the community feel here. In addition, the aesthetics of tree-lined streets and local parks are a huge draw for family buyers.

Local icons such as the stunning architecture of Palace Cinemas Balwyn, and the beautiful Maranoa Botanic Gardens all add to the area’s cachet.

Transport options are plentiful too. The area is serviced by trams and buses, and access onto the Eastern Freeway takes residents into town in just 30 minutes.

With a mix of old and new money, plenty of people are keen to be part of Balwyn and Balwyn North.

Surrey Hills/Camberwell/Canterbury

Positioned just nine kilometres from town, this suburb cluster is the epitome of lifestyle cool with lashings of soul with renowned village-style retail and plenty of parkland all on hand to attract a stream of families looking to enjoy their community.

Rivoli Cinemas is a beautiful Art Deco building on the edge of Camberwell that’s renowned in this area. There’s also the weekly Camberwell Sunday Market to enjoy. Canterbury Gardens is a drawcard for those looking to enjoy a picnic or an easy going stroll too.

Private schools such as Camberwell Boys and Girls and Strathcona, along with Trinity and MLC close by, are education options central to the area’s appeal. There are also plenty of “old money” households throughout, which bodes well for an established community and a consistently solid property market. Just walk down Hawthorn Grove and count the number of EVs in driveways getting charged! The area attracts families that like being ahead of the curve and enjoying the latest toys.

Within these suburbs sit some of Melbourne’s best prestige homes. These suburbs are dominated by Federation era homes and modern apartment developments around retail precincts creating a village feel. The median house price across this suburb cluster ranges from $2.34 million in Surrey Hills to $3.3 million in Canterbury according to realestate.com.au.

Albert Park/Middle Park

The draw of these two suburbs is the easy accessibility of both Port Philip Bay beach to the south and Albert Park lake to the north. There’s also the close proximity to Melbourne’s CBD together with a built form of well-kept Victorian era homes mixed in with village style retail like Bridport Street.

As bayside addresses, residents here can enjoy a relaxed stroll along the shoreline to welcome in, or see out, each day. With this beautiful vista also comes classic village retail and hospitality. Cafés , restaurants and retail outlets line Victoria Avenue and the shoreline which all help to elevate weekends in this community. These are envy-inducing addresses with plenty of ongoing demand among buyers.

Realestate.com.au shows the median house price for Albert Park is $2.34 million, while the figure for Middle Park is $2.5 million and house types are a mix of detached and attached options, from heritage construction to contemporary design.

Aberfeldie/Moonee Ponds/Essendon

If you’re living in the inner north-west and want the trendy label then Aberfeldie, Moonee Ponds and Essendon located approximately 10 kilometres from the CBD is your abode. Here you’ll find plenty of soul with a community built around all the right ingredients.

From Windy Hill to Puckle Street shopping strip, you’ll find a range of cafés, restaurants, bars and retail. The area also has fantastic private schools like Penleigh and Essendon Grammar and Lowther Hall, and for the jetsetters there’s an easy trip to the airport as well. And don’t be surprised if you find yourself having breakfast next to a sporting personality here as they seem to love the area… especially if you’re an Essendon supporter.

Other iconic “must visits” in the area include Moonee Ponds Racecourse, the Clocktower Centre performing arts complex and Windy Hill café in Essendon.

Homes are of excellent quality too. The median price for this suburb cluster ranges from around $1.55 million to $1.75 million according to realestate.com.au.

Carlton/Carlton North/Parkville

This inner-city grouping is well established among those who want to enjoy a little bit of Italy in our nation’s most European of capital cities… there’s even an Italian Museum on Faraday Street that’s well worth a visit!

This area is renowned for fabulous food and coffee along Lygon Street, and the heritage foundation of these suburbs makes it one of those uber-cool areas that never go out of style. For anyone who likes to catch a movie, both the Nova and Imax cinemas in Carlton will do nicely.

The heritage here extends to the housing too. There’s a fantastic mix of Victorian prestige residential, along with terraces and units. The demographic is diverse as well. Old school money mixes it up with university students and everything in between.

Realestate.com.au indicates the median house price across this suburb cluster hovers around $1.55 million.

South Yarra/Prahran/Windsor/Malvern

Think of enclaves that attract successful professionals and high-end aspirational young families and you are smack dab in this cohort of addresses six kilometres south-east of the CBD.

It’s full of yuppy hipster retail precincts – plenty of pricey boutiques coupled with a vibrant café scene. The feel is definitely one of status – “South of the Yarra”– but in that stylish, upmarket way that seems uniquely Melbourne.

Families love the area with easy access to some exceptional schooling options and parklands, and there’s a train running through the heart of the area, so commuters are well catered for.

You’ll find some wonderful lifestyle facilities are readily accessible including the Cycle Capital City Trail and the nearby Royal Botanic Gardens. Historic Como House in South Yarra also welcomes visitors, as does the very trendy Windsor Castle pub. Don’t forget to take the kids for a treat at Messina and Pidapipo as well.

The median house price varies wildly across this cluster according to realestate.com.au, from $1.4 million in Windsor to $2.8 million in Malvern.

Yarraville/Williamstown

Our man Tass said the heritage seaside feel of these suburbs, steeped in naval history, attracts a wide range of residents to come and settle here, just six kilometres from the heart of the city. In fact, we hear that at one stage Williamstown was the proposed capital city!

For those looking to discover more about the area’s past a visit to the Seaworks Maritime Museum is essential. Combine that with a stroll through Williamstown Botanic Gardens to make for a very memorable day.

Housing comprises a mix of prestige housing, terraces and period homes so there is a style to suit most buyers. And of course, it wouldn’t be a Melbourne seaside district without multiple popular retail and hospitality businesses along Nelson Place close to the water.

The median house price in Yarraville is $1.13 million while the figure in Williamstown is $1.54 million according to realestate.com.au.

Suburbs with soul rarely go out of a fashion. There is always plenty of demand for housing as folks look for a community that makes them feel at home.

Of course, securing the right property for your needs takes plenty of effort no matter where you decide to buy. If you want to acquire a great home in the right district, contact our expert, Tass Pattas and take advantage of his exceptional local property knowledge, comprehensive agent network and years of Melbourne experience.

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