Southbank, located just south of the Yarra River in Melbourne, Victoria, is known for its vibrant arts scene, modern living options, and proximity to the Melbourne CBD. It features a mix of high-rise apartments, cultural venues, and recreational facilities, making it an appealing location for professionals, families, and retirees alike. This article explores the best residential areas in Southbank, highlighting their unique characteristics, housing options, and average prices.
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Crown Precinct
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The Crown Precinct is an iconic part of Southbank, boasting the Crown Casino and Entertainment Complex. This area is perfect for those seeking a lively atmosphere with plenty of entertainment options at their doorstep.
Characteristics of the Crown Precinct
* Culture: Casino culture, dining, and nightlife hubs
* Transportation: Well-connected via trams and close to Southern Cross Station
* Services: World-class restaurants, stores, and entertainment venues
* Environment: Vibrant and bustling
Housing Options in the Crown Precinct
High-rise apartments, luxury flats
Average Home Prices in the Crown Precinct
* Buying: $700,000 – $1,200,000
* Renting: $500 – $900/month
Queensbridge
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Queensbridge is revered for its stunning views of the Yarra River and Melbourne skyline. It’s ideal for young professionals and families looking for a modern living environment with convenient amenities.
Characteristics of the Queensbridge
* Culture: Art galleries and riverside cafes
* Transportation: Excellent tram services and walking distance to the CBD
* Services: Parks, schools, and shopping facilities
* Environment: Sophisticated and scenic
Housing Options in the Queensbridge
Modern apartments, townhouses
Average Home Prices in the Queensbridge
* Buying: $600,000 – $1,000,000
* Renting: $450 – $850/month
Southbank Boulevard
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Known for its landscaped gardens and recreational areas, Southbank Boulevard provides a balance of urban life with green spaces. This area is popular with families and outdoor enthusiasts.
Characteristics of the Southbank Boulevard
* Culture: Community events and outdoor markets
* Transportation: Trams and buses readily available
* Services: Local shops, parks, and playgrounds
* Environment: Family-friendly and relaxed
Housing Options in the Southbank Boulevard
Family homes, apartments with park views
Average Home Prices in the Southbank Boulevard
* Buying: $800,000 – $1,300,000
* Renting: $600 – $1,000/month
Art Precinct
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The Art Precinct is home to Melbourne’s major cultural institutions, including the National Gallery of Victoria and Arts Centre Melbourne. This area appeals to those who appreciate the arts and culture.
Characteristics of the Art Precinct
* Culture: Rich artistic and cultural events
* Transportation: Tram services and close to the train station
* Services: Arts venues, cafes, and boutique shops
* Environment: Cultural and dynamic
Housing Options in the Art Precinct
Contemporary apartments, penthouses
Average Home Prices in the Art Precinct
* Buying: $900,000 – $1,500,000
* Renting: $650 – $1,200/month
Riverside Walk
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Riverside Walk is a picturesque area along the Yarra River, perfect for joggers, cyclists, and those who enjoy outdoor activities. The area has a relaxed vibe and is great for families and young professionals.
Characteristics of the Riverside Walk
* Culture: Outdoor lifestyle and community gatherings
* Transportation: Trams and bike paths available
* Services: Cafes, parks, and recreational facilities
* Environment: Tranquil and natural
Housing Options in the Riverside Walk
Flats and family homes
Average Home Prices in the Riverside Walk
* Buying: $750,000 – $1,300,000
* Renting: $550 – $1,000/month
Melbourne Convention and Exhibition Centre Area
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This area is known for its business facilities and public events. It’s ideal for professionals working nearby or those who frequently attend exhibitions and conferences.
Characteristics of the Melbourne Convention and Exhibition Centre Area
* Culture: Business and networking opportunities
* Transportation: Excellent public transport links
* Services: Conference venues, hotels, and restaurants
* Environment: Professional and bustling
Housing Options in the Melbourne Convention and Exhibition Centre Area
Modern high-rises, serviced apartments
Average Home Prices in the Melbourne Convention and Exhibition Centre Area
* Buying: $800,000 – $1,200,000
* Renting: $600 – $1,100/month
Frequently Asked Questions About the Best Residential Areas in Southbank:
The best residential areas in Southbank include Crown Precinct, Queensbridge, Southbank Boulevard, Art Precinct, Riverside Walk, and the Melbourne Convention and Exhibition Centre Area.
Queensbridge tends to have more affordable rental options compared to other areas in Southbank.
Queensbridge and Riverside Walk offer spectacular views of the Yarra River and Melbourne skyline.
You will find a variety of properties including high-rise apartments, luxury flats, townhouses, and family homes.
Average purchase prices range from $600,000 to $1,500,000 depending on the area and type of property.
Southbank Boulevard and Riverside Walk are particularly family-friendly due to their parks and recreational facilities.
Yes, Southbank has excellent public transport links including trams and buses, making it easy to get to the CBD and beyond.
The Art Precinct is the cultural hub of Southbank, offering a range of galleries, theatres, and cultural events.
The lifestyle in Southbank is a mix of urban sophistication, with plenty of dining, entertainment, and recreational options, alongside a vibrant art scene.
Yes, there are several quality schools nearby, as well as childcare and educational facilities making it suitable for families.
Conclusion on the Best Residential Areas in Southbank:
Southbank offers a diverse range of residential areas, each with unique characteristics and benefits. Whether you prefer the lively atmosphere of Crown Precinct, the cultural richness of the Art Precinct, or the family-friendly environment of Southbank Boulevard, there is a place for everyone in this dynamic suburb. With its excellent transport options, proximity to the Melbourne CBD, and an abundance of amenities, Southbank stands out as an ideal choice for those looking to experience a vibrant urban lifestyle.
About the Author
Published by:Eribert De Oliveira
Mechatronics Engineer and founder of Mi Inmueble Online, with a background in real estate. I combine technology and analysis to help you find the best areas to live.