St Kilda, a quintessential Melbourne suburb, boasts a captivating blend of coastal charm, vibrant nightlife, and a rich cultural tapestry. This iconic destination has long been a magnet for locals and tourists alike, offering a unique lifestyle experience.
What’s inside?
A Beachside Oasis with City Convenience
Situated on the picturesque Port Phillip Bay, St Kilda offers residents and visitors the best of both worlds: the relaxed atmosphere of beachside living combined with the energy and excitement of a bustling city. The iconic St Kilda Pier, adorned with its famous penguin colony, is a must-visit for locals and tourists alike.
A Diverse and Dynamic Community
St Kilda is renowned for its diverse community, attracting a mix of young professionals, artists, students, and families. The suburb’s multicultural fabric is reflected in its vibrant array of restaurants, cafes, and shops. From trendy boutiques to independent bookstores, there’s something to cater to every taste.
A Thriving Nightlife Scene
St Kilda is synonymous with a vibrant nightlife. The area comes alive after dark with a plethora of bars, clubs, and live music venues. From laid-back pubs to sophisticated cocktail bars, there’s an endless array of options to choose from.
A Premium Property Market
Given its prime location and desirable lifestyle, St Kilda boasts a premium property market. The median house price typically commands a significant premium compared to other Melbourne suburbs. However, the allure of beachside living and the suburb’s strong rental demand make it a sought-after investment for many.
Key Demographics
- Population: Approximately 20,218
- Average Age: 20 to 39 – A youthful and energetic demographic.
- Occupancy:
- Owner: 35% – A relatively lower ownership rate compared to other suburbs.
- Renter: 65% – A significant rental market due to the area’s popularity and lifestyle appeal.
- Household:
- Family: 22% – While a family-friendly suburb, it’s more predominantly known for its young professionals and singles.
- Single: 78% – A high proportion of single-person households, reflecting the independent and vibrant lifestyle.
Property Market Insights
Houses
- Median price: $1,475,000 (July 2023 – June 2024)
- Past 12 months growth: Down -0.2%
- Supply and demand: 28 houses available, 71 sold in the past 12 months, median time on market 57 days, 2847 buyers interested.
- Rental yield: 3.2%
Units
- Median price: $521,000 (July 2023 – June 2024)
- Past 12 months growth: Up 3.2%
- Supply and demand: 277 units available, 561 sold in the past 12 months, median time on market 41 days, 7819 buyers interested.
- Rental yield: 5.5%
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Median Price Snapshot
| Property Type | Median Price |
| 2 bed house | $1,155,000 |
| 3 bed house | $1,502,500 |
| 4 bed house | $2,720,000 |
| 1 bed unit | $380,000 |
| 2 bed unit | $605,000 |
| 3 bed unit | $872,500 |
Market Analysis
St Kilda’s property market reflects its premium location and lifestyle appeal. While house prices have experienced slight declines in the past year, the unit market has shown resilience with steady growth. The strong rental demand in the area contributes to relatively lower rental yields for both houses and units.
Things to Do and See
Beyond its iconic landmarks, St Kilda offers a wealth of attractions and activities:
- Luna Park: A historic amusement park with thrilling rides and games.
- St Kilda Pier: Enjoy stunning views, observe the penguin colony, and relax by the bay.
- Acland Street: Indulge in world-famous pastries and cafes.
- Fitzroy Street: Explore a diverse range of shops, restaurants, and bars.
- St Kilda Botanical Gardens: Escape the city bustle and enjoy a peaceful retreat.
St Kilda’s unique blend of coastal charm, vibrant culture, and premium lifestyle make it a highly desirable place to live or visit. While the property market can be competitive, the suburb’s enduring appeal continues to attract residents and investors alike.
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