St Kilda Road’s apartment market held steady through the September quarter. Like-for-like prices barely moved: two-bedroom apartments traded at a median of $640,000 (June quarter: $630,000) and one-bedroom apartments at $404,000 (June: $412,000). The corridor remains a market of two halves — a mainstream one- and two-bedroom investor market, and a prestige tier on Queens Road and the parkside stretch of the boulevard where three-bedroom residences routinely clear $1 million. Rentals continue to lease quickly, with two-bedroom asking rents edging up to $760 per week.
- Two-bedroom median of $640,000 and one-bedroom median of $404,000 — both within 2% of the June quarter.
- Queens Road delivered six of the quarter’s top ten sales, led by a $2.525 million three-bedroom residence at Victoriana, 20 Queens Road.
- Homes sold in a median 31 days, down from 46 days a year ago — the quickest selling pace in our data.
- Rentals leased in a median 17 days (23 a year ago), and two-bedroom asking rents are up 5.6% year on year.
| Metric | St Kilda Road (3004) |
|---|---|
| Market Trend | Steady — like-for-like prices flat |
| Buyer Demand | Moderate |
| Rental Demand | Strong |
Gross rental yields along the corridor run from about 6.2% on two-bedroom apartments up to approximately 7.2% on one-bedroom stock — solid cash returns for a blue-chip, parkside Melbourne address.
Top 10 sales, Q3 2026
| Address | Price | Beds | Bath | Car |
|---|---|---|---|---|
| 1504/20 Queens Road | $2,525,000 | 3 | 3 | 3 |
| 701/20 Queens Road | $1,400,000 | 3 | 2 | 2 |
| 604/77 Queens Road | $1,200,000 | 3 | 2 | 2 |
| 1108/450 St Kilda Road | $1,185,000 | 3 | 2 | 2 |
| 1404/20 Queens Road | $1,145,000 | 2 | 2 | 2 |
| 6/54 Queens Road | $975,000 | 2 | 2 | 1 |
| 145/418 St Kilda Road | $915,000 | 3 | 2 | 1 |
| 1602/568 St Kilda Road | $845,000 | 3 | 2 | 1 |
| 38/458 St Kilda Road | $820,000 | 2 | 1 | 1 |
| 509/20 Queens Road | $760,000 | 2 | 2 | 1 |
Source: PriceFinder Sales Search, St Kilda Road corridor (VIC 3004, including 250 St Kilda Road). Sales dated July–September 2026 with price disclosed, as reported at 2 October 2026; excludes sales without bed/bath data. One further sale at $760,000 (604/360 St Kilda Road) ties for tenth. For a full property report on any of these sales, contact Mark directly.
Market comment
Queens Road owned the top end this quarter, and one building did most of the work. Victoriana at 20 Queens Road — an 18-level, Rothelowman-designed development completed in late 2021 — accounted for four of the top ten, headed by a $2.525 million three-bedroom, three-car residence. With 250 apartments, a 22-metre indoor pool, a residents’ café and park and bay outlooks from its upper floors, it is the corridor’s clearest example of what buyers will pay a premium for: near-new, amenity-rich stock on the Albert Park side of the boulevard. Mid-market sales on St Kilda Road itself — at 418, 458 and 568 — filled out the list between $820,000 and $915,000.
Market activity
Measured on bedroom-matched medians, St Kilda Road prices have been remarkably stable: two-bedroom apartments have traded between $630,000 and $670,000 in every quarter since early 2025, while one-bedroom medians have firmed from $360,500 to around $404,000. Typical time-to-sell has shortened over the year to 31 days.
The all-stock median moves around far more — $495,000 this quarter against $600,000 in June — because the corridor’s quarterly sample is small and its stock ranges from compact studios to $2 million-plus residences. A quarter with more compact stock — including several sub-$200,000 suites in the heritage-listed hotel at 452 St Kilda Road — pulls that figure down without any change in underlying values, which is why we track St Kilda Road by bedroom count. Around 73% of sales fell in the $350,000–$850,000 bracket.
Anzac Station, beneath St Kilda Road at Domain, has been open since the Metro Tunnel began passenger services in late 2025 — putting the corridor on the Sunbury, Cranbourne and Pakenham lines with a direct tram interchange at the door. It is the most significant transport upgrade the boulevard has seen in decades, and buildings within walking distance of the station are best placed to benefit.
Rental market
Rental conditions remain firm across the corridor. Two-bedroom asking rents have stepped up from $720 to $760 per week over the past year, and one-bedroom rents from $533 to $560. The median listing leased in 17 days this quarter, compared with 23 days a year earlier.
Measured against current sale prices, that puts gross rental yields at roughly 7.2% for one-bedroom apartments and 6.2% for two-bedroom apartments — St Kilda Road continues to combine a prestige address with genuinely competitive cash-flow returns.
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Community — what’s on in October
Marathon, half and shorter events starting and finishing at the MCG. Expect road closures across the inner south-east over the weekend — check the official site for this year’s course.
Free guided walks through Melbourne Gardens (Birdwood Avenue) as part of the Victorian Seniors Festival.
Free opening-weekend program at Fed Square, a short tram ride up St Kilda Road, including a brass-band street party on Saturday 17 October from 1pm.
Runway shows and designer showcases at venues across the city.
Dates as published by organisers at 2 October 2026 — check event websites before attending.
Figures are medians from PriceFinder sales and rental listing data for the St Kilda Road corridor (postcode 3004, including 250 St Kilda Road), July–September 2026, with information cut off 2 October 2026. Gross yield = median weekly asking rent × 52 ÷ median sale price, same quarter and bedroom count. Dingle Partners operates six inner-city offices — for a free appraisal of your property, get in touch.