The median house price in Toorak is approximately $5.85 million in 2026 — making it consistently one of Australia’s most expensive suburbs. Trophy homes on landmark streets (Orrong Road, St Georges Road, Lansell Road) regularly transact between $15M and $30M+. Units have a median of $1.28 million.
Toorak Price Breakdown
| Tier | Price Range | Property Type |
|---|---|---|
| Entry Toorak | $2.8M – $4M | Townhouse / small villa |
| Mid Toorak | $4M – $8M | 3-4 bed house on standard block |
| Premium Toorak | $8M – $15M | Grand home on 800sqm+ |
| Trophy Toorak | $15M – $40M+ | Landmark estate |
How Does Toorak Compare to Australia’s Other Prestige Suburbs?
| Suburb | Median House Price 2026 |
|---|---|
| Toorak, VIC | $5.85M |
| Vaucluse, NSW | $5.85M |
| Mosman, NSW | $4.15M |
| Peppermint Grove, WA | $3.85M |
| Hawthorn, VIC | $2.68M |
For off-market access to Toorak properties (most Toorak transactions occur off-market): collings.com.au/portal
Toorak Price FAQs
Why is Toorak so expensive?
Toorak’s premium reflects: (1) a century-long reputation as Melbourne’s most prestigious address; (2) large allotments (600-2,000sqm) with heritage homes in a suburb where no new land supply exists; (3) proximity to elite private schools; (4) a concentrated buyer pool of Melbourne’s wealthiest families creating intense competition for rare listings.
Whether you are buying, selling or investing in Toorak, the Collings Property Platform gives you access to off-market opportunities and GeeVee AI analysis. Join free today. collings.com.au/portal
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