Toorak

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

Based on analysis of ABS population updates for the broader area, and new addresses validated by AreaSearch since the Census, the suburb of Toorak's population is estimated at around 13,797 as of Feb 2026. This reflects an increase of 980 people (7.6%) since the 2021 Census, which reported a population of 12,817 people. The change is inferred from the resident population of 13,348, estimated by AreaSearch following examination of the latest ERP data release by the ABS in June 2024 and an additional 214 validated new addresses since the Census date. This level of population equates to a density ratio of 3,231 persons per square kilometer, placing it in the upper quartile relative to national locations assessed by AreaSearch. Toorak's 7.6% growth since census positions it within 2.3 percentage points of the national average (9.9%), demonstrating competitive growth fundamentals. 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 2022 as the base year. 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 with demographic trends, lower quartile growth of Australian statistical areas is anticipated, with the suburb expected to grow by 360 persons to 2041 based on aggregated SA2-level projections, reflecting a decrease of 0.7% in total over the 17 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 shows Toorak recorded around 64 residential properties granted approval per year over the past five financial years ending June 2021, totalling an estimated 321 homes. By July 2022, 73 approvals had been recorded in FY-26. The average expected 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.

Comparing Toorak's building activity to Greater Melbourne reveals it records markedly lower activity, 58.0% below regional average per person. New building activity shows 28.0% detached dwellings and 72.0% townhouses or apartments. The location has approximately 285 people per dwelling approval, indicating room for growth. With population expected to remain stable or decline, Toorak should see reduced pressure on housing, potentially creating opportunities for buyers.

With population expected to remain stable or decline, Toorak should see reduced pressure on housing, potentially creating opportunities for buyers.

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

Changes to local infrastructure significantly impact an area's performance. AreaSearch identified 21 projects likely affecting the region. Notable initiatives 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 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's workforce is highly educated with professional services well represented. The unemployment rate was 2.7% in the past year, showing a 4.5% employment growth based on AreaSearch data aggregation. As of December 2025, 7,656 residents were employed, with an unemployment rate of 2.1%, below Greater Melbourne's 4.8%.

Workforce participation was 65.7%, compared to Greater Melbourne's 71.3%. Home work was high at 47.7% based on Census responses. Leading industries include professional & technical, health care & social assistance, and finance & insurance. Toorak specializes in professional & technical jobs with a share of 1.8 times the regional level, but construction is under-represented at 5.1%, compared to Greater Melbourne's 9.7%.

Employment opportunities seem limited locally as working population count lags resident population. Between December 2024 and 2025, employment levels increased by 4.5% and labour force by 4.5%, keeping unemployment stable at 2.1%. By comparison, Greater Melbourne recorded employment growth of 2.4% with unemployment rising to 5.1%. National employment forecasts from Jobs and Skills Australia, released in May-25, project national employment expansion by 6.6% over five years and 13.7% over ten years. Applying these projections to Toorak's industry mix suggests local employment could increase by 7.7% over five years and 15.2% over ten years, though this is a simple extrapolation for illustrative purposes only.

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

The latest postcode level ATO data from AreaSearch shows that Toorak had a median income of $79,839 and an average income of $264,889 in the financial year 2023. This compares to Melbourne's median income of $57,688 and average income of $75,164 during the same period. Based on Wage Price Index growth of 8.25%, current estimates for Toorak would be approximately $86,426 (median) and $286,742 (average) as of September 2025. The 2021 Census data ranks household, family, and personal incomes in Toorak between the 91st and 96th percentiles nationally. Income analysis reveals that 35.9% of individuals earn $4000 or more per week, differing from regional patterns where the dominant band is $1,500 - $2,999 with 32.8%. This indicates strong economic capacity in Toorak as 45.3% earn above $3,000 per week after housing costs. After these costs, residents retain 87.1% of their income, reflecting strong purchasing power and 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, higher than Melbourne metro's average of $2,000. The median weekly rent in Toorak was $486, compared to Melbourne metro's $390. Nationally, Toorak's mortgage repayments were significantly 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 constitute 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 account for the remaining 40.4%, with lone person households at 35.2% and group households comprising 5.2%. 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 years and over, 58.8% possess university qualifications, compared to the Australian average of 30.4% and Victoria's average of 33.4%. This high level of educational attainment positions Toorak 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 making up 10.2% and certificates 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

The analysis of public transportation in Toorak indicates that there are 54 active transport stops currently operating. These consist of a mix of lightrail and bus services. Eight individual routes serve these stops collectively providing 7,110 weekly passenger trips. The accessibility of transport is rated as excellent with residents typically located 188 meters from the nearest stop. As a predominantly residential area, most commuting is outward-bound. Car remains the dominant mode of transportation at 72%, followed by train at 10% and walking at 6%.

Vehicle ownership averages 1.1 per dwelling, which is below the regional average. According to the 2021 Census, a high percentage of residents work from home, with this figure standing at 47.7%. This may reflect conditions related to COVID-19. The 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 of mortality rates and chronic condition prevalence indicates a 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, which consists of 17,996 people.

This compares to 56.7% across Greater Melbourne and 55.7% nationally. The most prevalent medical conditions in the area are arthritis and mental health issues, affecting 6.8% and 6.1% of residents respectively. Meanwhile, 73.5% of residents declare themselves completely clear of medical ailments, compared to 72.6% across Greater Melbourne. The area has a higher proportion of seniors aged 65 and over, with 30.8% (4,249 people) compared to 15.1% in Greater Melbourne. Health outcomes among seniors are particularly 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 showed high cultural diversity, with 21.3% speaking a language other than English at home and 33.0% born overseas. Christianity was the predominant religion, accounting for 43.4%. Notably, Judaism represented 10.7%, significantly higher than Greater Melbourne's average of 1.0%.

The top three ancestral groups were English (24.2%), Australian (16.8%), and Other (11.1%). Some ethnic groups showed notable differences: Polish at 3.3% in Toorak compared to 0.8% regionally, Hungarian at 0.7% vs 0.3%, and Russian at 1.1% vs 0.4%.

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

Toorak's median age is 47 years, which is higher than the Greater Melbourne average of 37 years and exceeds the national average of 38 years. The 75-84 age group comprises 12.8% of Toorak's population, compared to 6.1% nationally and a lower percentage in Greater Melbourne. Post-2021 Census data shows that this age group has grown from 9.6% to 12.8%. Meanwhile, the 45-54 cohort declined from 11.9% to 10.1%, and the 35-44 group decreased from 10.6% to 9.5%. By 2041, demographic modeling suggests significant changes in Toorak's age profile. The 85+ cohort is projected to grow by 88%, adding 592 residents to reach 1,269. Senior residents aged 65 and above will drive all population growth, indicating a trend of demographic aging. Conversely, population declines are projected for the 45-54 and 0-4 age groups.