Southbank
The median rent for a 2-bedroom unit in Southbank is $720 a week for leases that started in the year to September 2025, up 2.9% on a year earlier. That is 31% above the typical 2-bedroom unit rent across Melbourne ($550). The median sale price in the Mar 2026 quarter was $590,000 for a unit. A year of rent for that home is about 6.3% of its median sale price (gross rental yield).
Median rent in Southbank
| Home | Rent a week | Change over a year | New leases |
|---|---|---|---|
| 1-bedroom unit | $570 | +3.6% | 1,593 |
| 2-bedroom unit | $720 | +2.9% | 2,385 |
| 3-bedroom unit | $1,010 | 0.0% | 355 |
* Based on fewer than 20 new leases in the year, so it can swing a lot.
Median sale price
| Type | Median price | Period |
|---|---|---|
| Unit | $590,000 | Mar 2026 quarter |
† Fewer than 10 sales. ‡ No sales that quarter, so an earlier figure is shown.
Suburbs with similar rent
- Melbourne $735 a week
- Burnley $700 a week
- Richmond $700 a week
- South Melbourne $700 a week
- South Yarra $700 a week
- Abbotsford $695 a week