Toorak
Statistical Area - sa2

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

Toorak's population, as of Nov 2025, is approximately 13,718. This figure represents an increase from the 2021 Census count of 12,953 people, marking a rise of 765 individuals (5.9%). The change is inferred from ABS's estimated resident population of 13,508 in June 2024 and an additional 145 validated new addresses since the Census date. This results in a population density ratio of 3,175 persons per square kilometer, placing Toorak in the upper quartile relative to other locations assessed by AreaSearch. Overseas migration contributed approximately 97.7% of overall population gains during recent periods, driving primary growth in the area.

AreaSearch employs ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022. For areas not covered by this data, AreaSearch uses VIC State Government's Regional/LGA projections from 2023, adjusting with a weighted aggregation method from LGA to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Based on projected demographic shifts, lower quartile growth is anticipated for Australian statistical areas. Toorak is expected to grow by 357 persons to 2041, with an increase of approximately 1.0% in total over the 17-year period.

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

Toorak has averaged approximately 65 new dwelling approvals annually over the past five financial years, totalling 326 homes. As of FY-26 so far, 24 approvals have been recorded. The population decline in recent years suggests that new supply has likely kept pace with demand, providing good options for buyers. The average construction value of new properties is $2,378,000, indicating a focus on the premium market and high-end developments.

This financial year, $37.9 million in commercial approvals have been registered, demonstrating strong commercial development momentum. Compared to Greater Melbourne, Toorak shows significantly reduced construction activity (58.0% below regional average per person), which typically reinforces demand and pricing for existing homes. The new development consists of 29.0% detached dwellings and 71.0% attached dwellings, promoting higher-density living that offers more affordable entry points for downsizers, investors, and first-home buyers. With around 299 people per approval, Toorak reflects a low density area. By 2041, Toorak is projected to grow by approximately 143 residents.

Given current development patterns, new housing supply should readily meet demand, presenting good conditions for buyers and potentially facilitating population growth beyond current projections.

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

Changes to local infrastructure significantly affect an area's performance. AreaSearch has identified 21 projects that may impact this region. Notable projects include the Metro Tunnel Project, Toorak Village at 109 Mathoura Road, Orrong Rd, Toorak at 707 Orrong Road, and Grandview Prahran. The following list details those most likely to be relevant.

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

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Employment conditions in Toorak demonstrate exceptional strength compared to most Australian markets

Toorak's workforce is highly educated with strong representation in professional services. The unemployment rate was 2.6% as of June 2025, lower than Greater Melbourne's 4.6%.

Employment grew by an estimated 6.9% over the past year. There were 7,972 residents employed in June 2025 with a participation rate of 59.5%, below Greater Melbourne's 64.1%. Key industries include professional & technical (employment share 1.8 times the regional level), health care & social assistance, and finance & insurance. Construction is under-represented at 5.1% compared to Greater Melbourne's 9.7%.

The area offers limited local employment opportunities, as indicated by Census data on working population versus resident population. Between June 2024 and May 2025, employment increased by 6.9%, labour force by 7.2%, leading to an unemployment rise of 0.3 percentage points. In comparison, Greater Melbourne saw employment growth of 3.5% and unemployment rise by 0.5 percentage points. Jobs and Skills Australia's national employment forecasts from May 2025 project a 6.6% increase over five years and 13.7% over ten years. Applying these projections to Toorak's employment mix suggests local growth of approximately 7.7% over five years and 15.2% over ten years, though these are simple extrapolations for illustrative purposes only.

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

Toorak had a median taxpayer income of $79,895 and an average income of $265,075 in financial year 2022, according to postcode level ATO data aggregated by AreaSearch. Nationally, these figures are exceptionally high, contrasting with Greater Melbourne's median income of $54,892 and average income of $73,761 in the same period. Based on Wage Price Index growth of 12.16% since financial year 2022, estimated incomes for Toorak as of September 2025 would be approximately $89,610 (median) and $297,308 (average). The 2021 Census showed household, family, and personal incomes in Toorak ranking highly nationally, between the 91st and 97th percentiles. Distribution data indicated that the largest segment comprised 35.9% earning $4,000 or more weekly (4,924 residents), differing from patterns across the region where $1,500 to $2,999 dominated with 32.8%. Economic strength was evident through 45.3% of households achieving high weekly earnings exceeding $3,000, supporting elevated consumer spending. After housing costs, residents retained 87.1% of income, reflecting strong purchasing power. The area's SEIFA income ranking placed 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 30.3% houses and 69.6% other dwellings (semi-detached, apartments, 'other' dwellings). In comparison, Melbourne metro had 16.9% houses and 83.1% other dwellings. Home ownership in Toorak stood at 44.4%, with mortgaged dwellings at 23.6% and rented ones at 32.0%. The median monthly mortgage repayment was $3,146, exceeding Melbourne metro's average of $2,287. Median weekly rent in Toorak was $490, compared to Melbourne metro's $425. Nationally, Toorak's mortgage repayments were higher than 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 higher-than-average median household size

Family households account for 59.7% 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 40.3%, with lone person households at 35.1% and group households comprising 5.2%. The median household size is 2.1 people, larger than the Greater Melbourne average of 1.9.

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 notably exceeds broader benchmarks, with 58.8% of residents aged 15+ holding university qualifications compared to Australia's 30.4% and Victoria's 33.4%. This substantial advantage 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 17.2% of qualifications among those aged 15+, with advanced diplomas at 10.3% and certificates at 6.9%.

Educational participation is notably high, with 27.6% of residents currently enrolled in formal education, including 9.9% in tertiary, 6.8% in secondary, and 6.3% pursuing primary education. Six schools operate within Toorak, educating approximately 4,498 students, while the area demonstrates exceptional educational performance (ICSEA: 1161), placing local schools among the most advantaged nationally. The educational mix includes one primary school and five K-12 schools. Toorak functions as an education hub with 32.8 school places per 100 residents, significantly above the regional average of 14.1, attracting students from surrounding communities.

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

Transport analysis reveals 58 active transport stops operating within Toorak. These include a mix of train, light rail, and bus services. The routes servicing these stops total eight, collectively providing 5,215 weekly passenger trips.

Transport accessibility is rated excellent with residents typically located 185 meters from the nearest stop. Service frequency averages 745 trips per day across all routes, equating to approximately 89 weekly trips per individual stop.

Toorak's residents are extremely healthy with very low prevalence of common health conditions across all age groups

Toorak shows robust health performance with low prevalence of common conditions across all ages. Private health cover stands at approximately 95% (13,004 people), surpassing Greater Melbourne's 81.8% and the national average of 55.3%. The most prevalent conditions are arthritis (6.8%) and mental health issues (6.1%), with 73.4% reporting no medical ailments, similar to Greater Melbourne's 73.3%.

Residents aged 65 and over comprise 29.6% (4,057 people), higher than Greater Melbourne's 16.3%, yet health outcomes among seniors exceed those of the general population.

Toorak was found to be more culturally diverse than the vast majority of local markets in Australia, upon assessment of a range of language and cultural background related metrics

Toorak's population showed higher cultural diversity than most local areas, with 21.2% speaking a language other than English at home and 32.9% born overseas. Christianity was the predominant religion, accounting for 43.5%. Judaism was notably overrepresented at 10.7%, significantly higher than Greater Melbourne's average of 5.1%.

The top three ancestry groups were English (24.4%), Australian (16.8%), and Other (11.0%). Some ethnic groups showed notable differences: Polish at 3.2% compared to the regional 1.9%, Russian at 1.1% versus 0.9%, and Hungarian at 0.7% against 0.5%.

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

Toorak's median age is 47 years, which is higher than Greater Melbourne's average of 37 years and exceeds the national average of 38 years. The 75-84 age group constitutes 12.2% of Toorak's population, compared to Greater Melbourne's percentage, while the 35-44 cohort makes up 9.8%. This 75-84 concentration is higher than the national average of 6.0%. According to post-2021 Census data, the 75 to 84 age group has increased from 9.6% to 12.2%, while the 45 to 54 cohort has decreased from 11.9% to 10.4%. By 2041, demographic modeling suggests significant changes in Toorak's age profile. The 85+ cohort is projected to grow by 106%, adding 653 residents and reaching a total of 1,271. Senior residents aged 65 and above will drive all population growth, highlighting demographic aging trends. Meanwhile, population declines are projected for the 45-54 and 5-14 age cohorts.