What You Can Buy In South Yarra, Prahran & Toorak For $1.35m
In This Week’s How's The Market | Edition 114
What You Can Buy In South Yarra, Prahran & Toorak For $1.35m
Kew’s Architectural Masterpiece Reborn
Quiet sale of the Besen family estate stuns Melbourne’s luxury market
What You Can Buy In South Yarra, Prahran & Toorak For $1.4m
A common client brief we work with is $1.4m looking in the inner ring around South Yarra, Prahran, Windsor & Toorak, so let’s take a deep dive into what you can actually purchase with this budget.
First off, South Yarra.
You can look at either a smaller 2 bedroom house further away from amenities in a slightly quieter pocket or a larger 3 bedroom that will typically be on a busier road, but better located within walking distance to amenities.
Check out some examples below:
17/350 Toorak Road, South Yarra, Vic 3141
Sold for $1,395,000 on 27th Feb 2025.
This property is 3 bedroom, 2 bathroom, 2 car north facing apartment with near house size proportions.
Located within walking distance to all the amenities that Chapel & Toorak Rd can offer.
OR
18 Fitzgerald Street, South Yarra, Vic 3141
Sold for $1,342,000 on 15th Feb 2025.
This property is a reasonably well renovated 2 bed, 1 bath house with the option for off-street parking at the rear in the courtyard.
Also located within a good distance to South Yarra's amenities.
This property is also situated on 146m2 of land.
Now, let’s have a look at Prahran.
You can get a range of properties in Prahran for this budget. Whether you prefer an older style apartment, period home or a multi storey townhouse.
Below are some recent sales that show you exactly what this money can buy.
3/44-46 Chomley Street, Prahran, Vic 3181
Sold for $1,367,500 on 22nd Mar 2025.
This property is a triple storey townhouse on 113m2 of land with 3 bed, 2 baths, 1 car with great sized rooms that could be renovated.
Great internal accommodation and location.
2 Florence Street, Prahran, Vic 3181
Sold for $1,375,000 on 15th Jan 2025.
This property is a beautifully renovated 2 bed, 1 bath house with no parking.
North facing terrace with great period features and a great floor plan with the laundry and bathroom centrally located.
Now, onto Toorak.
I think people often mistake Toorak as a suburb only available to the rich and famous.
And whilst it is true that the rich and famous do occupy Toorak, there are also some great opportunities in the suburb that don’t cost you $4m.
Here are examples of some recent sales under $1.4m.
304/392A Toorak Road, Toorak, Vic 3142
Sold for $1,385,000 on 30th Jan 2025.
Yes, this property is located on Toorak Road, however, it faces west and contains a spacious floor plan with 2 bathrooms, 2 good sized bedrooms and also 2 car spaces with nice views.
Another option, also on Toorak Rd is below:
4/568 Toorak Road, Toorak, Vic 3142
Sold for $1,390,000 on 26th Oct 2024.
This is an interesting one as it is actually a 3 bed, 1.5 bath double storey townhouse with a garage.
Also with great sized rooms and a great living and dining area.
Out of all the above properties, which would you pick?
My eye is on 2 Florence St, Prahran!
What The Agents Are Saying
Inspection numbers were high last Saturday in Yarra, slower in Boroondara and consistent across Stonnington and Port Phillip.
Agents in Yarra have told me they are finally getting some good quality properties coming up and it’s looking like things are going to get busier for them over the next two months which is interesting as we are coming into winter this weekend.
Agents in Boroondara have told me that things are staying fairly slow for them with no real end in sight.
A prominent agent from a large company that dominates a lot of Boroondara told me yesterday that she only has 2 auctions booked in for June so far which is extremely low for her.
Yarra & Stonnington has stayed fairly consistent so far this year with a fair amount of average quality stock and a lower amount of A grade properties coming on.
The Wow Factor!
63 Walpole Street, Kew, Vic 3101
Great sized block, epic location, Victorian facade, huge modern extension = Wow Factor!!
An incredible home of grand proportions tucked away in Kew.
Check out some of the original period details in the front room.
Price Guide: $8,000,000 - $8,800,000
In The Media
Toorak’s $50m Besen estate quietly sold off in one of 2025’s biggest deals
Another huge off-market sale in Melbourne with a $50m transaction in Toorak.
This is very much expected at this price point as very few deals at this level are done online and in the public eye.
Typically, the higher the price point, the higher the expectation of privacy.
Final Thoughts
Check out what you can buy in South Yarra, Prahran and Toorak for under $1.4m.
Especially for A-grade stock
If you or someone you know would like assistance to buy this year, book in a call and we can discuss if we can help.
Thanks for reading this far!
We value feedback and if you have any suggestions on what you would like covered in the future please email me at tristan@tomii.com.au
Happy Buying!
Note: This is general advice and does not take into consideration your objectives, situations or needs. Please consider if this advice is suitable for you and your circumstances and speak to a professional before making any financial decisions.
