Toorak

Toorak has shown very soft population growth performance across periods assessed by AreaSearch

As of May 2026, the population of the suburb of Toorak is estimated at around 13,469 people. This reflects an increase of 652 people since the 2021 Census, which reported a population of 12,817 people. The change was inferred from the resident population of 13,468 estimated by AreaSearch following examination of the latest ERP data release by the ABS in June 2025 and an additional 239 validated new addresses since the Census date. This level of population equates to a density ratio of 3,154 persons per square kilometer, placing it in the upper quartile relative to national locations assessed by AreaSearch. Population growth for the area was primarily driven by overseas migration that contributed approximately 98.0% of overall population gains during recent periods.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, as released in 2024 with a base year of 2022. For any SA2 areas not covered by this data, AreaSearch is utilising the VIC State Government's Regional/LGA projections released in 2023 with adjustments made employing a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group from these aggregations are also applied across all areas for years 2032 to 2041. Moving forward, demographic trends indicate lower quartile growth of Australian statistical areas is anticipated, with the area expected to grow by 359 persons to 2041 based on aggregated SA2-level projections, reflecting an increase of 2.7% in total over the 16 years.

Residential development activity is lower than average in Toorak according to AreaSearch's national comparison of local real estate markets

AreaSearch analysis of ABS building approval numbers allocated from statistical area data shows Toorak recorded around 64 residential properties granted approval per year over the past five financial years, totalling an estimated 321 homes. So far in FY-25/26, 74 approvals have been recorded. The average construction cost value of new homes is $4,801,000, indicating developers are targeting the premium market segment with higher-end properties. This year, $36.2 million in commercial approvals have been registered, demonstrating high levels of local commercial activity.

Compared to Greater Melbourne, Toorak records markedly lower building activity, 58.0% below regional average per person, which typically reinforces demand and pricing for existing dwellings. New building activity shows 28.0% standalone homes and 72.0% townhouses or apartments, focusing on higher-density living to create more affordable entry points for downsizers, investors, and first-home buyers. Toorak reflects a low density area with around 285 people per approval. According to the latest AreaSearch quarterly estimate, Toorak is expected to grow by 358 residents through to 2041. At current development rates, new housing supply should comfortably meet demand, providing good conditions for buyers and potentially supporting growth beyond current population projections.

Looking ahead, Toorak is expected to grow by 358 residents through to 2041 (from the latest AreaSearch quarterly estimate). At current development rates, new housing supply should comfortably meet demand, providing good conditions for buyers and potentially supporting growth beyond current population projections.

Toorak has very high levels of nearby infrastructure activity, ranking in the top 10% nationally

Changes in local infrastructure significantly impact an area's performance. AreaSearch has identified 21 projects that could affect this region. Notable ones include One Toorak Place (Orchard Piper Carters Avenue), Orrong Rd, Toorak (707 Orrong Road), Grandview Prahran, and 671 Chapel Street. The following list details those most likely to be relevant.

Professional plan users can use the search below to filter and access additional projects.

Denotes AI-based impression for illustrative purposes only, not to be taken as definitive under any circumstances. Please follow links and conduct other investigations from the project's source for actual imagery. Developers and project owners wishing us to use original imagery please Contact Us and we will do so.

Employment conditions in Toorak demonstrate strong performance, ranking among the top 35% of areas assessed nationally

Toorak has a highly educated workforce with strong representation in professional services. Its unemployment rate is 2.7%, lower than Greater Melbourne's 4.8%. Employment growth over the past year was estimated at 4.5%.

As of December 2025, 7,660 residents are employed, and the unemployment rate is 2.1% below Greater Melbourne's rate. Workforce participation in Toorak is 64.8%, lower than Greater Melbourne's 69.9%. Home-based work is significant at 47.7%. Key industries include professional & technical services, health care & social assistance, and finance & insurance.

Professional & technical employment is notably high, at 1.8 times the regional average. Construction employment is under-represented at 5.1%, compared to Greater Melbourne's 9.7%. Employment opportunities locally appear limited. Over the year to December 2025, employment increased by 4.5% while labour force grew by 4.5%, with unemployment remaining unchanged. In contrast, Greater Melbourne saw employment growth of 2.4% and labour force growth of 2.8%, with a slight rise in unemployment. Jobs and Skills Australia's national employment forecasts from May-25 suggest potential future demand within Toorak. Over five years, national employment is forecast to expand by 6.6%. Applying these projections to Toorak's employment mix suggests local employment should increase by 7.7% over five years.

The economic profile demonstrates exceptional strength, placing the area among the top 10% nationally based on comprehensive AreaSearch income analysis

AreaSearch's latest postcode level ATO data for financial year 2023 shows Toorak had a median taxpayer income of $79,839 and an average of $264,889. Nationally, these figures place Toorak in the top percentile. Greater Melbourne's median was $57,688 with an average of $75,164. Based on Wage Price Index growth of 9.62% since financial year 2023, current estimates for Toorak would be approximately $87,520 (median) and $290,371 (average) as of March 2026. Census data indicates household, family, and personal incomes in Toorak rank between the 91st and 96th percentiles nationally. The suburb's earnings profile shows that 35.9% of individuals earn over $4,000 per week (4,835 individuals), contrasting with surrounding regions where the $1,500 - $2,999 category is dominant at 32.8%. Toorak's affluence is evident with 45.3% earning over $3,000 weekly, supporting premium retail and service offerings. After housing costs, residents retain 87.1% of income, reflecting strong purchasing power. The area's SEIFA income ranking places it in the 10th decile.

Toorak features a more urban dwelling mix with significant apartment living, with above-average rates of outright home ownership

Toorak's dwelling structures, as per the latest Census, consisted of 30.4% houses and 69.6% other dwellings (semi-detached, apartments, 'other' dwellings), compared to Melbourne metro's 67.9% houses and 32.1% other dwellings. Home ownership in Toorak stood at 44.4%, with mortgaged dwellings at 23.4% and rented ones at 32.2%. The median monthly mortgage repayment was $3,152, exceeding Melbourne metro's average of $2,000. Median weekly rent in Toorak was $486, compared to Melbourne metro's $390. Nationally, Toorak's mortgage repayments were higher at $3,152 versus the Australian average of $1,863, and rents were substantially above the national figure of $375.

Toorak features high concentrations of lone person households and group households, with a lower-than-average median household size

Family households account for 59.6% of all households, including 20.8% couples with children, 31.1% couples without children, and 6.8% single parent families. Non-family households make up the remaining 40.4%, with lone person households at 35.2% and group households comprising 5.2% of the total. The median household size is 2.1 people, which is smaller than the Greater Melbourne average of 2.6.

Educational achievement in Toorak places it within the top 10% nationally, reflecting strong academic performance and high qualification levels across the community

Toorak's educational attainment significantly exceeds national and state averages. Among residents aged 15+, 58.8% possess university qualifications, compared to Australia's 30.4% and Victoria's 33.4%. This high level of educational attainment positions the area favourably for knowledge-based opportunities. Bachelor degrees are most prevalent at 38.8%, followed by postgraduate qualifications (15.9%) and graduate diplomas (4.1%).

Vocational pathways account for 17.1% of qualifications, with advanced diplomas at 10.2% and certificates at 6.9%. Educational participation is notably high in Toorak, with 27.6% of residents currently enrolled in formal education. This includes 9.9% in tertiary education, 6.8% in secondary education, and 6.3% pursuing primary education.

Transport servicing is high compared to other areas nationally based on assessment of service frequency, route connectivity and accessibility

Toorak has 54 active public transport stops operating within its boundaries. These comprise a mix of lightrail and bus services. Eight individual routes service these stops, collectively providing 7,110 weekly passenger trips. Transport accessibility is rated as excellent, with residents typically located 188 meters from the nearest stop. As a primarily residential area, most residents commute outward. The car remains the dominant mode of transport at 72%, followed by train at 10% and walking at 6%.

Vehicle ownership averages 1.1 per dwelling, below the regional average. According to the 2021 Census, 47.7% of residents work from home, which may reflect COVID-19 conditions. Service frequency averages 1,015 trips per day across all routes, equating to approximately 131 weekly trips per individual stop.

Toorak's residents boast exceedingly positive health performance metrics with very low prevalence of common health conditions across all age groups

Health outcomes data shows excellent results across Toorak. AreaSearch's assessment found very low prevalence of common health conditions across all age groups. The rate of private health cover is exceptionally high at approximately 130% of the total population (17,568 people), compared to 56.7% in Greater Melbourne and 55.7% nationally.

The most prevalent medical conditions are arthritis (6.8%) and mental health issues (6.1%). 73.5% of residents declare themselves completely clear of medical ailments, compared to 72.6% across Greater Melbourne. Toorak has a higher proportion of seniors aged 65 and over at 30.2% (4,067 people), compared to 15.0% in Greater Melbourne. Health outcomes among seniors are strong, broadly aligning with national rankings for the general population.

The level of cultural diversity witnessed in Toorak was found to be above average when compared nationally for a number of language and cultural background related metrics

Toorak's population was found to be more culturally diverse than most local markets, with 21.3% speaking a language other than English at home and 33.0% born overseas. Christianity is the dominant religion in Toorak, representing 43.4% of its population. Notably, Judaism is overrepresented, comprising 10.7%, compared to Greater Melbourne's average of 1.0%.

The top three ancestry groups are English (24.2%), Australian (16.8%), and Other (11.1%). Some ethnic groups show significant divergence: Polish at 3.3% in Toorak versus 0.8% regionally, Hungarian at 0.7% versus 0.3%, and Russian at 1.1% versus 0.4%.

Toorak hosts an older demographic, ranking in the top quartile nationwide

Toorak's median age is 47 years, considerably higher than Greater Melbourne's average of 37 years and the national average of 38 years. The 75-84 age group constitutes 12.3% of Toorak's population, compared to Greater Melbourne's percentage and significantly higher than the national 6.1%. The 35-44 cohort makes up 10.3%, less prevalent than in Greater Melbourne. Post-2021 Census data shows the 75-84 age group grew from 9.6% to 12.3%, while the 85+ cohort increased from 4.0% to 5.3%. Conversely, the 45-54 cohort declined from 11.9% to 9.9%. By 2041, demographic modeling suggests significant changes in Toorak's age profile. The 85+ cohort is projected to grow by 87%, adding 624 residents to reach 1,338. Senior residents aged 65 and above will drive 99% of population growth, indicating prominent demographic aging trends. Meanwhile, population declines are projected for the 0-4 and 5-14 cohorts.