South Yarra
VICSouth Yarra is a declining suburb in VIC with 25,028 residents.
- SAL code
- 22314
- SA2
- 206061516
- Population
- 25,028
- LGA
- Stonnington
South Yarra, VIC had 25,028 residents at the 2021 Census, with the broader statistical area showing a 7.5% decline over the last five years. The predominant age group is 25-34 years, and the median age sits at 33. Households are most often couples without children, and those with a mortgage repay a median of $2,100 a month. Around 35.5% of homes are owner-occupied, with the largest single tenure being rented at 61.8%. Most dwellings are flats or apartments, making up 79.7% of the suburb's housing stock. The suburb has 32 parks and reserves mapped within its boundary. Source: ABS Census 2021 and Estimated Resident Population, with amenity counts from state Open Data and OpenStreetMap.
Suburb analysis
South Yarra, VIC at a glance
South Yarra is an inner-southeast Melbourne suburb ~4 km from the CBD, straddling the Yarra between the City of Stonnington (south) and a small City of Melbourne pocket (north). The character is dense, mixed-use and apartment-led, anchored by Chapel Street, Toorak Road and the Domain–Botanic Gardens edge. The data tiles below cover the demographic baseline; this card adds the live market and lifestyle context they don't.
For homebuyers
South Yarra reads as an apartment-and-terrace suburb where the lifestyle is on the street, not in the backyard. The Chapel Street strip carries the bars, restaurants and retail; Toorak Road delivers a more polished cafe row toward the Domain Road end; and Forrest Hill (around the station) is the high-rise core. Period workers' cottages and Victorian terraces sit on the back streets toward Como Park and the Yarra. South Yarra Station is on the Sandringham, Frankston, Cranbourne and Pakenham lines — direct CBD trains in ~6 minutes — and trams 8 and 78 cover Toorak Road and Chapel. Melbourne High School (selective, top-tier VCE results) sits at the Forrest Hill end, with Melbourne Grammar and Melbourne Girls Grammar nearby. Fawkner Park, the Royal Botanic Gardens and Como Park provide the green relief; Prahran Market is a 5-minute walk south. In short: a high-density, walk-everywhere inner suburb where the trade-off for no garden is the CBD on one side and the Botanic Gardens on the other.
For investors
South Yarra is a unit-dominated rental market with deep tenant demand and modest house yield. Median house sale ~$2.05m against ~$900/week rent gives a gross yield around 2.3%; median unit ~$580,000 at ~$580/week rent runs near 5.2% gross (Your Investment Property April 2026). 12-month house growth was roughly flat to +2%; units +3-4%. Days-on-market sit near 35 (houses) and 30 (units), with ~140 house and ~700 unit sales over the past 12 months. Vacancy tightened to ~1.6% (SQM Research, Mar 2026).
Strengths
- Tenant demand is structural — sub-2% vacancy and ~700 unit sales/yr show genuine market depth.
- Unit gross yields ~5.2% are well above inner-Melbourne house yields and competitive for a CBD-fringe postcode.
- Train + tram + walkability scores among the highest in Melbourne; tenants pay a premium for the Forrest Hill / Chapel walk-up.
- Catchment includes Melbourne High (selective) and ring-fenced grammar schools — sticks the upper end of the rental band.
Trade-offs
- House yields ~2.3% (median ~$2.05m / ~$900pw) — capital-growth-only play at the freestanding end.
- Apartment supply is heavy: Forrest Hill and Toorak Road have absorbed multiple high-rise projects, capping unit growth (12-month ~+3%).
- Owners corp fees and short-stay competition dilute net yield — gross headline overstates take-home.
- Days-on-market 30-35 days is slower than outer growth corridors; liquidity at sale is moderate, not fast.
What's coming
Stonnington's 2025/26 Capital Works program funds further Chapel Street public-realm upgrades (footpath widening, tree planting) and continued Forrest Hill streetscape works around the station. The Chapel Street Masterplan prioritises activation between Toorak Road and Commercial Road. Metro Tunnel works across the inner south continue to reshape commute patterns into 2026.
Bottom line
For homebuyers: a dense, walkable inner suburb where you trade backyard for the CBD, the Botanic Gardens and Chapel Street on your doorstep. For investors: a unit-yield play with deep tenant demand, not a freestanding-house growth bet.
Population
?25,028
Suburb · Census 2021
5-Year Growth
-7.5%
3yr: +5.6% · 10yr: -1.4%
SA2 · 5yr
Household Income
$2,063/wk
Suburb · Census 2021 median
Median Age
33
Suburb · Census 2021
Socio-Economic Index
?6/10
SA2 · middle-range
Unemployment
?5.5%
SA2 · Q4 2025
Schools
6
3 primary, 3 secondary
Hospitals
No data for this suburb
Childcare services
?9
2 long day, 3 OSHC, 1 family
Parks & green space
?32
Parks, reserves
Transport stops
?78
GTFS stops
Dwelling approvals
?31
Stonnington · Feb 2026
Median Weekly Rent
Based on rental bond lodgements recorded by the state government.
Median House Sale Price
Source: Valuer-General Victoria (suburb-level quarterly medians).
→ Calculate stamp duty on this suburb's median price→ Estimate mortgage repayments→ Calculate rental yield (price + median rent)
Safety & Crime
2025 Q4Reported incidents from VIC police. Offence rates may not reflect all crime.
Population over time — South Yarra - South (SA2)
ABS publishes annual estimates only at SA2; South Yarra suburb alone is ~25,028 (Census 2021).
Source: ABS ERP (latest release · 2025) · Census 2021. Numbers refreshed quarterly.
Growth at a Glance
Population grew from 7,981 to 10,440 over 24 years, averaging 1.1% per year.
Schools
6 in suburbSector
3 public · 3 private
Type
2 primary · 2 secondary · 1 K-12 · 1 special
Total enrolment
3,288
Avg per school
548
Government school catchment
Catchment data is not yet available for VIC.
Source when available: Victorian Department of Education / Vicmap School Zones.
Profile
Census snapshot
Housing
Public housing 4.1%Almost entirely apartments (79.7%), rental-heavy (61.8% renting), built for families (47% are 2 bed).
Dwelling mix
Tenure
VIC 29%
Number of bedrooms
Bushfire risk
This suburb falls outside every bushfire polygon mapped by the relevant authority. Always confirm at the property address — local conditions and unmapped overlays can still apply.
Overlap is the percentage of the suburb's land area inside the mapped bushfire polygons. Always verify the exact property address with the relevant authority before making decisions. Source when available: Vicmap Planning — Bushfire Prone Area + Vicmap flood overlays.
Flood risk
Source: VIC DTP Vicmap Planning Overlay (flood codes)
As of Apr 2026
Overlap is the percentage of the suburb's land area inside the mapped flood polygons. Always verify the exact property address with the relevant authority before making decisions.
Planning zones
20 zones in suburb| Code | Zone | % covered | Area |
|---|---|---|---|
| PPRZ | Public Park and Recreation ZoneRecreation | 19.2% | 0.68 km² |
| ACZ1 | Activity Centre Zone Schedule 1Business | 13.5% | 0.48 km² |
| GRZ5 | General Residential Zone Schedule 5Residential | 12.4% | 0.44 km² |
| GRZ9 | General Residential Zone Schedule 9Residential | 11.8% | 0.42 km² |
| NRZ3 | Neighbourhood Residential Zone Schedule 3Residential | 11.7% | 0.42 km² |
| TRZ2 | TRZ2Special use | 5.1% | 0.18 km² |
| NRZ2 | Neighbourhood Residential Zone Schedule 2Residential | 4.0% | 0.14 km² |
| GRZ10 | General Residential Zone Schedule 10Residential | 3.8% | 0.13 km² |
| GRZ12 | General Residential Zone Schedule 12Residential | 3.7% | 0.13 km² |
| TRZ1 | TRZ1Special use | 2.5% | 0.09 km² |
| GRZ1 | General Residential Zone Schedule 1Residential | 2.3% | 0.08 km² |
| RGZ1 | Residential Growth Zone Schedule 1Residential | 2.1% | 0.08 km² |
| NRZ1 | Neighbourhood Residential Zone Schedule 1Residential | 2.0% | 0.07 km² |
| PUZ2 | Public Use Zone Schedule 2Special use | 1.6% | 0.06 km² |
| SUZ3 | Special Use Zone Schedule 3Special use | 1.3% | 0.05 km² |
| GRZ3 | General Residential Zone Schedule 3Residential | 0.9% | 0.03 km² |
| C1Z | Commercial 1 ZoneBusiness | 0.7% | 0.03 km² |
| PUZ6 | Public Use Zone Schedule 6Special use | 0.7% | 0.02 km² |
| GRZ11 | General Residential Zone Schedule 11Residential | 0.4% | 0.01 km² |
| GRZ4 | General Residential Zone Schedule 4Residential | 0.2% | 7,989 m² |
Source: VIC DTP Vicmap Planning Zones (ZONE_VIC/2026-04-29/08783d2926383881) · As of Apr 2026. Zone boundaries are amended periodically; verify the exact property with the relevant council before relying on permitted use.