907/280 Spencer Street

Melbourne VIC 3000

The size of Melbourne is approximately 2.7 square kilometres. It has 9 parks covering nearly 2.5% of total area. The population of Melbourne in 2011 was 28,370 people. By 2016 the population was 47,293 showing a population growth of 66.7% in the area during that time. The predominant age group in Melbourne is 20-29 years. Households in Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Melbourne work in a professional occupation. In 2011, 34.7% of the homes in Melbourne were owner-occupied compared with 29% in 2016.

Melbourne has 61,554 properties. Over the last 5 years, Houses in Melbourne have seen a 23.15% increase in median value, while Units have seen a -7.20% decrease. As at 31 January 2025:

• The median value for Houses in Melbourne is $1,429,208 while the median value for Units is $435,655.
• Houses have a median rent of $600 while Units have a median rent of $650.