Southbank (prime, ~A$750/sqm/yr · ≈ $45.3 PSF/yr USD) is one of 5 Melbourne Class A submarkets we track.

  • Southbank sits at prime tier.
  • Average rent A$750/sqm/yr · ≈ $45.3 PSF/yr USD vs city average 720.
  • Compared submarkets: CBD East (Collins Street) (trophy), CBD West (Spencer Street) (trophy), Docklands (prime).

Southbank vs other Melbourne submarkets

Southbank (prime, ~A$750/sqm/yr · ≈ $45.3 PSF/yr USD) is one of 5 Melbourne Class A submarkets we track.

TL;DR

  • Southbank sits at prime tier.
  • Average rent A$750/sqm/yr · ≈ $45.3 PSF/yr USD vs city average 720.
  • Compared submarkets: CBD East (Collins Street) (trophy), CBD West (Spencer Street) (trophy), Docklands (prime).

Side-by-side with peers

**CBD East (Collins Street)** (trophy, A$880/sqm/yr · ≈ $53.1 PSF/yr USD) — Trophy financial and legal spine. **CBD West (Spencer Street)** (trophy, A$800/sqm/yr · ≈ $48.3 PSF/yr USD) — Established trophy with rail anchor. **Docklands** (prime, A$700/sqm/yr · ≈ $42.3 PSF/yr USD) — Trophy waterfront expansion. **Parkville & CBD North** (prime, A$600/sqm/yr · ≈ $36.2 PSF/yr USD) — Life sciences and university adjacency.

Key facts

cityMelbourne
submarketSouthbank
tierprime
averageRentLocalA$750/sqm/yr · ≈ $45.3 PSF/yr USD
cityClassARentUsd$43/sqft/yr
cityVacancyPct18.4%

Frequently asked questions

What other submarkets compete with Southbank in Melbourne?
CBD East (Collins Street), CBD West (Spencer Street), Docklands

Related

Editorial provenance

Reviewed by Kenji Watanabe — APAC contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.

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