Discover the 10 best places to live in Melbourne in 2023. From the bustling city center to charming suburbs with a mix of nature and urban convenience, this guide will help you find the perfect neighborhood that suits your lifestyle and preferences. Explore Melbourne’s vibrant communities, top-notch amenities, and cultural attractions, making each of these locations an ideal choice for settling down. Whether you’re a young professional, a family, or a retiree, these top spots in Melbourne offer a fulfilling and enriching living experience.
Melbourne, the cultural capital of Australia, is a city filled with energy, diversity, and an array of vibrant neighborhoods, each with its own unique charm. Whether you’re a young professional, a growing family, or a retiree looking for a peaceful retreat, Melbourne has something to offer for everyone. When it comes to choosing the best place to call home, factors like safety, accessibility, amenities, and lifestyle play a crucial role. In this blog post, we’ll delve into the 10 best places to live in Melbourne in 2023, considering various sources and factors to help you make an informed decision.
10 Best Places To Live In Melbourne In 2023
We’ll delve into the 10 best places to live in Melbourne in 2023, viz;
Kicking off our list is Yallambie, a safe and family-friendly suburb located just 15 kilometers northeast of the CBD. With a low crime rate of just 58 incidents over a period, Yallambie provides a peaceful and secure environment for residents. This charming suburb boasts leafy streets lined with spacious homes, making it ideal for families seeking a bit of extra room to grow.
Conveniently situated, Yallambie offers easy access to amenities such as schools, parks, and shopping centers, ensuring a comfortable and convenient lifestyle for its residents. Moreover, nature enthusiasts will find solace in Yallambie’s proximity to the picturesque Yarra Valley wine region, offering a perfect weekend getaway for wine lovers.
Caulfield is one of the best places to live in Melbourne. If you are a savvy investor looking for the perfect property opportunity, Caulfield might just be your haven. Located just 12 kilometers southeast of the CBD, Caulfield is a popular choice among investors due to its prime location and impressive return on investment. The median house price in Caulfield stands at $2.4 million, with a notable rental yield of 2.1%.
Beyond the financial appeal, Caulfield offers excellent schools, parks, and shopping centers, ensuring that residents have access to all essential amenities. Adding to its allure, Caulfield is also home to the prestigious Caulfield Racecourse, renowned for hosting the famous Caulfield Cup horse race, providing residents with thrilling entertainment right at their doorstep.
This is one of the best places to live in Melbourne. For those seeking a vibrant and diverse atmosphere, Northcote, situated just 7 kilometers north of the CBD, stands as an alluring choice. This trendy suburb is known for its lively arts and music scene, with numerous independent galleries, theaters, and live music venues scattered throughout the area.
The strong community spirit in Northcote fosters a warm and welcoming environment, evident through the abundance of local events and festivals that take place throughout the year. As for the property market, Northcote boasts a median house price of $1.4 million and a rental yield of 2.1%, making it a desirable location for both homeowners and investors alike.
4. South Yarra
This is also one of the best places to live in Melbourne. If upscale living and convenience are what you seek, look no further than South Yarra. Located just 4 kilometers southeast of the CBD, this prestigious and affluent suburb offers a taste of luxury with its upscale shopping and dining options along Toorak Road and Chapel Street.
For nature lovers, the nearby Royal Botanic Gardens provide a serene escape from the urban bustle. The median house price in South Yarra stands at $2.2 million, with a rental yield of 1.9%. While it may come at a premium, the allure of living in South Yarra is hard to resist for those who seek the finer things in life.
Elegance and grandeur define Kew, a leafy and affluent suburb located just 6 kilometers east of the CBD. The picturesque gardens and grand historic homes of Kew create an atmosphere of timeless beauty. Families will appreciate the excellent schools in the area, while the Kew Junction shopping precinct offers a range of retail and dining options for residents to indulge in.
The median house price in Kew is $2.5 million, with a rental yield of 1.9%. Kew’s seamless blend of sophistication and convenience makes it a coveted location for those seeking a lavish lifestyle, definitely Kew is one of the Best Places to Live In Melbourne.
As we venture southeast of the CBD, we stumble upon Brighton, a delightful seaside suburb offering a serene coastal retreat. With beautiful beaches, historic architecture, and upscale shopping and dining options, Brighton encapsulates the essence of a leisurely beachside lifestyle. The Brighton Bathing Boxes, an iconic tourist attraction, add a touch of color and charm to the coastline. The median house price in Brighton is $2.9 million, with a rental yield of 1.8%. While it may come with a premium price tag, the allure of coastal living and the laid-back atmosphere make Brighton a haven for those seeking relaxation and coastal beauty.
Nestled just 2 kilometers north of the CBD, Carlton is a vibrant and diverse suburb celebrated for its rich multicultural community, excellent restaurants, and lively nightlife. Home to the University of Melbourne and the Royal Exhibition Building, a UNESCO World Heritage Site, Carlton exudes a youthful and dynamic energy. The median house price in Carlton is $1.5 million, with a rental yield of 2.1%. Its eclectic mix of cultural experiences and convenient city access make Carlton an ideal choice for students, young professionals, and those who revel in a lively urban environment.
8. St Kilda
A bohemian paradise awaits in St Kilda, situated 6 kilometers southeast of the CBD, where artistic expression, live music, and eclectic charm converge. With a bohemian vibe and a thriving live music scene, St Kilda exudes a unique energy that sets it apart from other suburbs. The beautiful beach provides residents with the perfect spot for relaxation and recreation.
Historic Luna Park and the Palais Theatre add a touch of nostalgia and excitement to the area. The median house price in St Kilda stands at $1.6 million, with a rental yield of 1.9%. For those seeking an unconventional and artsy lifestyle by the sea, St Kilda is the Best Places To Live In Melbourne.
This is one of the best places to live in Melbourne. For a relaxed and laid-back lifestyle by the beach, Elwood is the perfect choice. Situated just 8 kilometers southeast of the CBD, Elwood boasts a beachfront lined with cafes, restaurants, and bars, creating a friendly and inviting ambiance.
The Elwood Canal offers a popular spot for walking, cycling, and picnicking, allowing residents to unwind and connect with nature. The median house price in Elwood is $2.1 million, with a rental yield of 1.8%. With its beachside charm and laid-back atmosphere, Elwood is an attractive option for those seeking a peaceful retreat near the water.
Wrapping up our list is Fitzroy, a trendy and bohemian suburb located just 2 kilometers northeast of the CBD. Fitzroy is an urban playground for artists and creative souls, adorned with captivating street art, independent boutiques, and a lively music scene. The Brunswick Street shopping precinct offers an array of retail and dining options that cater to every taste. The median house price in Fitzroy is $1.4 million, with a rental yield of 2.1%. For those seeking a neighborhood brimming with artistic expression and an edgy urban vibe, Fitzroy is the Best Places To Live In Melbourne.
Melbourne is a city that thrives on its diversity, and its neighborhoods reflect this vibrant tapestry of cultures and lifestyles. The 10 best places to live in Melbourne in 2023 cater to a diverse range of preferences and needs, ensuring that everyone can find their perfect place to call home. From the tranquil suburbs of Yallambie and Caulfield to the bohemian enclaves of Fitzroy and St Kilda, each neighborhood has its own unique character and charm to offer. Whether you seek luxury, a beachside escape, or an artistic haven, Melbourne has the best place for you to live and experience the city’s unparalleled energy and warmth.
As you embark on your journey to find the perfect home, consider the factors that are most important to you. Research thoroughly and explore each neighborhood to get a true feel for its ambiance and lifestyle. By doing so, you can make an informed decision and find the best place to live in Melbourne that resonates with your heart and soul. Melbourne awaits you with open arms, ready to embrace you in its rich cultural heritage and boundless opportunities. So, let the search begin, and may you find the place that brings you joy, comfort, and a sense of belonging amidst the vibrant tapestry of Melbourne’s best neighborhoods.
1. Metropole – Top 10 safest suburbs to live in Melbourne
2. Property Update – The 16 Best Suburbs to Invest in Melbourne 2023
3. Broadsheet – These Are the 20 Best Melbourne Suburbs To Live In, According to a New Report
4. Real Estate – Melbourne’s top 50 most liveable suburbs revealed
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