South Yarra and Prahran are Melbourne’s premier inner-south lifestyle suburbs, separated by the Chapel Street retail strip. Both attract high household incomes, strong rental demand and consistent price growth. This comparison uses REIV Q2 2025 and ABS Census 2021 data.
Median House Price Comparison
| Metric | South Yarra | Prahran |
|---|---|---|
| Median House Price | $2,180,000 | $1,680,000 |
| Median Unit Price | $680,000 | $620,000 |
| Gross House Yield | 2.8% | 3.4% |
| Gross Unit Yield | 4.1% | 4.4% |
| 5-Year Growth (House) | 31% | 34% |
| Owner-Occupier Rate | 38% | 42% |
| Median HH Income (ABS 2021) | $2,840/wk | $2,480/wk |
| GeeVee Investment Score | 7.6/10 | 7.7/10 |
GeeVee Verdict
Prahran scores 7.7/10, edging South Yarra at 7.6/10. Prahran’s lower entry price, stronger five-year growth and better unit yield make it the better investor proposition. South Yarra commands a premium for its Toorak Road prestige and Melbourne’s highest household incomes.
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