Brett Warren , National Director – Metropole Group
When it comes to Melbourne’s property market, three suburbs captured the imagination of both serious buyers and casual stickybeaks this year – Albert Park, Middle Park, and Toorak.
According to Domain’s End of Year Wrap for 2025, Albert Park was the most viewed suburb, closely followed by Middle Park, with Toorak rounding out the top three.
So, what’s driving the fascination? For homebuyers, it’s the unbeatable combination of location, lifestyle, and heritage charm. Albert Park and Middle Park offer period homes, leafy streets, and proximity to the bay, while Toorak remains the pinnacle of prestige with a median house price north of $4 million.
For investors, the story is equally compelling – limited supply, strong demand, and the enduring appeal of heritage homes create a recipe for resilience, even in softer markets.
But here’s the nuance. Not everyone clicking through listings is ready to buy. Many are “dreaming” – seeking renovation inspiration or indulging in a little aspirational window shopping. That doesn’t diminish the value of these suburbs – in fact, it reinforces their status as benchmarks for design, lifestyle, and long‑term desirability.
For investors, the takeaway is evident. Prestige pockets like Albert Park and Middle Park aren’t just about high price tags, they’re about scarcity and sustained demand. Even when broader supply tightens, these areas hold their ground. And while Toorak may be out of reach for most, its performance sets the tone for Melbourne’s luxury market.
Whether you’re a homebuyer hoping to secure a slice of bayside heritage or an investor looking for stability in uncertain times, Melbourne’s love affair with these suburbs shows no signs of fading.
The dream may start with stickybeaks, but the fundamentals make these areas worth watching closely.
