The Best Suburbs in Melbourne (2024)
Melbourne, the cultural capital of Australia, is renowned for its diverse neighbourhoods, vibrant arts scene, and high quality of life. Whether you’re looking to relocate, invest, or simply curious about the city’s most desirable suburbs, this guide will help you navigate the best suburbs Melbourne has to offer in 2024.
Top Suburbs for Liveability
When it comes to liveability, several Melbourne suburbs stand out for their combination of amenities, lifestyle, and overall appeal:
South Yarra
South Yarra is one of Melbourne’s most prestigious and sought-after suburbs. Located just 4 km southeast of the CBD, it offers a blend of luxury and convenience.
Key Features:
- Proximity to CBD: Easy access to the city centre via train, tram, and bus.
- Amenities: High-end shopping on Chapel Street, numerous cafes, restaurants, and bars.
- Lifestyle: Beautiful parks such as the Royal Botanic Gardens and Fawkner Park.
South Yarra’s vibrant lifestyle and excellent amenities make it a top choice for professionals and families alike.
Fitzroy
Fitzroy, located just 3 km northeast of the CBD, is Melbourne’s oldest suburb and a hub of creativity and culture.
Key Features:
- Cultural Hub: Known for its art galleries, live music venues, and street art.
- Lifestyle: A plethora of cafes, bars, and restaurants, particularly along Brunswick Street.
- Transport: Well-served by trams and buses.
Fitzroy’s eclectic vibe and proximity to the city make it a favourite among young professionals and artists.
Hawthorn
Hawthorn is an affluent suburb located 6 km east of the CBD, known for its leafy streets and excellent schools.
Key Features:
- Education: Home to some of Melbourne’s top private schools, including Scotch College and Xavier College.
- Amenities: Plenty of parks, cafes, and shopping options, particularly around Glenferrie Road.
- Transport: Excellent train and tram services.
Hawthorn’s family-friendly atmosphere and top-notch amenities make it a popular choice for families.
Carlton
Carlton, located just 2 km north of the CBD, is famous for its Italian heritage and vibrant dining scene.
Key Features:
- Dining: Lygon Street is renowned for its Italian restaurants and cafes.
- Education: Close to the University of Melbourne.
- Lifestyle: Beautiful parks such as Carlton Gardens and the Royal Exhibition Building.
Carlton’s proximity to the city and rich cultural heritage make it a desirable suburb for students and professionals.
Brighton
Brighton is a prestigious bayside suburb located 11 km southeast of the CBD, known for its beautiful beaches and luxurious homes.
Key Features:
- Beaches: Famous for its colourful beach boxes and pristine sands.
- Amenities: High-end shopping and dining options along Church Street.
- Transport: Well-served by trains and buses.
Brighton’s coastal charm and luxurious lifestyle make it a top choice for affluent families and retirees.
Best Suburbs for Investment
For those looking to invest in Melbourne’s property market, several suburbs show promising growth potential:
Flemington
Located just 4 km northwest of the CBD, Flemington offers excellent value for investment with house prices just breaking the million mark.
Key Features:
- Proximity to CBD: Excellent connectivity with public transport links.
- Amenities: A range of conveniences and amenities, including the famous Flemington Racecourse.
- Investment Potential: Strong rental yields and a growing population.
Flemington’s affordability and growth potential make it an attractive option for investors.
Elsternwick
Elsternwick, located 9 km southeast of the CBD, is a highly sought-after suburb for young families and professionals.
Key Features:
- Amenities: Quality schools, shopping centres, and proximity to the beach.
- Lifestyle: A vibrant community with plenty of dining and recreational options.
- Investment Potential: Current dips in property prices present an opportunity for investors.
Elsternwick’s family-friendly atmosphere and strong growth potential make it a smart investment choice.
Moonee Ponds
Moonee Ponds, located 7 km northwest of the CBD, is an inner-city suburb with a rich history and vibrant community.
Key Features:
- Amenities: Excellent shopping and dining options, particularly around Puckle Street.
- Transport: Well-served by trains, trams, and buses.
- Investment Potential: Strong rental yields and consistent capital growth.
Moonee Ponds’ blend of convenience and community appeal makes it a top pick for investors.
Brunswick
Brunswick, located 6 km north of the CBD, is known for its diverse culture and vibrant arts scene.
Key Features:
- Cultural Hub: A thriving arts and music scene with numerous galleries and live music venues.
- Lifestyle: Plenty of cafes, bars, and restaurants, particularly along Sydney Road.
- Transport: Excellent tram and train services.
Brunswick’s eclectic vibe and strong rental demand make it an attractive investment suburb.
Coburg
Coburg, located 8 km north of the CBD, is an up-and-coming suburb with a mix of affordability and growth potential.
Key Features:
- Amenities: A range of shopping and dining options, as well as parks and recreational facilities.
- Transport: Well-connected by trains, trams, and buses.
- Investment Potential: Affordable entry points and strong growth prospects.
Coburg’s affordability and potential for capital growth make it a smart choice for investors.
Emerging Hotspots
For those willing to look beyond the established favourites, several emerging suburbs offer exciting opportunities:
Footscray
Footscray, located 5 km west of the CBD, is undergoing significant transformation and gentrification.
Key Features:
- Cultural Diversity: A vibrant multicultural community with diverse dining options.
- Amenities: Excellent transport links and proximity to Victoria University.
- Growth Potential: Ongoing urban renewal projects driving growth.
Footscray’s affordability and growth potential make it an emerging hotspot for both residents and investors.
Preston
Preston, located 9 km north of the CBD, is gaining attention for its mix of affordability and lifestyle appeal.
Key Features:
- Amenities: A range of shopping, dining, and recreational options, including the Preston Market.
- Transport: Well-served by trains, trams, and buses.
- Growth Potential: Strong rental demand and ongoing gentrification.
Preston’s affordability and lifestyle appeal make it an attractive option for first-home buyers and investors.
Werribee
Werribee, located 32 km southwest of the CBD, offers affordable housing and strong growth potential.
Key Features:
- Amenities: Major retail centres, schools, and recreational facilities.
- Transport: Good public transport links, including train services to the CBD.
- Growth Potential: Significant infrastructure developments driving growth.
Werribee’s affordability and growth prospects make it a smart choice for investors looking for long-term returns.
Final Thought
Melbourne offers a diverse range of suburbs, each with its unique charm and appeal. Whether you’re seeking a family-friendly neighbourhood, a bustling urban lifestyle, or a promising investment opportunity, there’s a suburb in Melbourne to suit your needs.
When choosing the best suburb for you, consider factors such as:
- Proximity to work and amenities
- Public transport options
- School catchment areas
- Future development plans
- Lifestyle factors (e.g., nightlife, dining options, green spaces)
By doing thorough research and considering your long-term goals, you can find the perfect Melbourne suburb to call home or invest in. With its growing economy and high quality of life, Melbourne continues to be an attractive destination for both residents and investors in 2024 and beyond.