Toorak

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

Toorak's population was approximately 13,718 as of November 2025. This figure represents an increase of 765 people from the 2021 Census count of 12,953. The increase is inferred from the 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 national locations assessed by AreaSearch. Overseas migration contributed approximately 97.7% of overall population gains during recent periods.

AreaSearch uses ABS/Geoscience Australia projections for each SA2 area released in 2024 with a base year of 2022. For areas not covered, AreaSearch utilises the VIC State Government's Regional/LGA projections from 2023, adjusted using weighted aggregation methods to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Based on projected demographic shifts and latest annual ERP population numbers, Toorak is anticipated to grow by 357 persons by 2041, reflecting a total increase of 1.0% 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, 26 approvals have been recorded. The population in Toorak has declined recently, with new supply likely keeping pace with demand, offering good choice to buyers. New properties are constructed at an average expected cost value of $2,378,000, indicating a focus on the premium market with high-end developments.

This financial year, $37.9 million in commercial approvals have been registered, suggesting strong commercial development momentum. Compared to Greater Melbourne, Toorak shows substantially reduced construction (58.0% below regional average per person), which usually reinforces demand and pricing for existing homes. New development consists of 29.0% detached dwellings and 71.0% attached dwellings, creating more affordable entry points and suiting downsizers, investors, and first-home buyers. Toorak reflects a low density area with around 299 people per approval. According to the latest AreaSearch quarterly estimate, Toorak is expected to grow by 143 residents through to 2041.

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

Toorak has strong levels of nearby infrastructure activity, ranking in the top 30% nationally

The performance of an area can significantly be influenced by changes to local infrastructure, major projects, and planning initiatives. AreaSearch has identified a total of 21 such projects that are likely to impact the area. Among these key projects are the Metro Tunnel Project, One Toorak Place (Orchard Piper Carters Avenue), Orrong Rd, Toorak (707 Orrong Road), and Grandview Prahran. The following list details those projects considered most 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 has an educated workforce with strong professional services representation. Its unemployment rate was 2.6% in the past year, showing a 4.7% employment growth.

As of September 2025, 7,667 residents were employed, with an unemployment rate of 2.1%, lower than Greater Melbourne's 4.7%. Workforce participation was 59.5%, below Greater Melbourne's 64.1%. Employment is concentrated in professional & technical (1.8 times the regional level), health care & social assistance, and finance & insurance. Construction employment is under-represented at 5.1% compared to Greater Melbourne's 9.7%.

Limited local employment opportunities are indicated by Census data. Over a 12-month period ending in September 2025, Toorak's employment increased by 4.7%, labour force by 4.6%, with unemployment remaining unchanged. In comparison, Greater Melbourne had employment growth of 3.0% and unemployment rose 0.3 percentage points. State-level data to 25-Nov-25 shows Victoria's employment grew by 1.13% year-on-year, with an unemployment rate of 4.7%. National forecasts from May-25 project employment growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Toorak's employment mix suggests local employment should increase by 7.7% over five years and 15.2% over ten years.

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

Toorak SA2 had a median taxpayer income of $79,895 and an average of $265,075 in financial year 2022, according to the latest postcode level ATO data aggregated by AreaSearch. This is significantly higher than the national averages. Greater Melbourne's median income was $54,892 with an average income of $73,761 during the same period. Based on a 12.16% increase in wages since financial year 2022, estimated incomes for Toorak SA2 as of September 2025 would be approximately $89,610 (median) and $297,308 (average). The 2021 Census data shows that household, family, and personal incomes in Toorak SA2 ranked between the 91st and 97th percentiles nationally. Income distribution data indicates that the largest segment comprises 35.9% of residents earning $4,000 or more weekly, differing from regional patterns where earnings primarily fall within the $1,500 to $2,999 range. Economic strength is evident with 45.3% of households achieving high weekly earnings exceeding $3,000, supporting elevated consumer spending in the area. After accounting for housing costs, residents retain 87.1% of their income, reflecting strong purchasing power. The area's SEIFA income ranking places it within the 10th decile nationally.

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

Toorak's dwelling structure, as per the latest Census, consisted of 30.3% houses and 69.6% other dwellings (semi-detached, apartments, 'other' dwellings). In contrast, Melbourne metropolitan area 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, higher than 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 significantly higher than the Australian average of $1,863, while 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 constitute 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 comprise the remaining 40.3%, with lone person households at 35.1% and group households making up 5.2%. The median household size is 2.1 people, which is 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

Educational attainment in Toorak is notably high, with 58.8% of residents aged 15 and above holding university qualifications, compared to the national average of 30.4% and the Victorian state average of 33.4%. Bachelor degrees are the most common 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 and above, with advanced diplomas making up 10.3% and certificates 6.9%. Educational participation is high, 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

Transport analysis reveals 58 active transport stops operating within Toorak, comprising a mix of train, light rail, and bus services. These stops are serviced by eight individual routes, collectively providing 5,215 weekly passenger trips. Transport accessibility is rated as excellent, with residents typically located 185 meters from the nearest transport 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

Analysis of health metrics shows strong performance throughout Toorak with very low prevalence of common health conditions across all age groups. The rate of private health cover is exceptionally high at approximately 95% of the total population (13,004 people), compared to 81.8% across Greater Melbourne and a national average of 55.3%. The most common medical conditions in the area are arthritis and mental health issues, impacting 6.8 and 6.1% of residents respectively, while 73.4% declared themselves completely clear of medical ailments compared to 73.3% across Greater Melbourne.

The area has 29.6% of residents aged 65 and over (4,057 people), which is higher than the 16.3% in Greater Melbourne. Health outcomes among seniors are particularly strong, performing even better than the general population in health metrics.

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 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 in Toorak, composing 43.5% of its population. Notably, Judaism was substantially overrepresented at 10.7%, compared to 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 significant differences: Polish was overrepresented at 3.2% (vs regional 1.9%), Russian at 1.1% (vs 0.9%), and Hungarian at 0.7% (vs 0.5%).

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

Toorak's median age is 47 years, which is considerably higher than Greater Melbourne's average of 37 years and exceeds the national average of 38 years. The 75-84 age group comprises 12.2% of Toorak's population, compared to 6.0% nationally and 9.6% in Greater Melbourne. In the 2021 Census, this age group was 9.6%, indicating a growth to 12.2%. Conversely, the 45-54 cohort has declined from 11.9% to 10.4%. By 2041, demographic modeling projects significant changes in Toorak's age profile. The 85+ cohort is projected to grow by 106%, adding 653 residents to reach 1,271. Senior residents aged 65 and above will drive all population growth, while the 45-54 and 5-14 cohorts are projected to decline in population.