Toorak

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

Toorak's population, as of February 2026, is approximately 13,956, representing an increase of 1,003 people since the 2021 Census. The 2021 Census reported a population of 12,953 in Toorak. This growth can be inferred from the estimated resident population of 13,504 as of June 2024 and an additional 214 validated new addresses since the Census date. This results in a population density ratio of 3,230 persons per square kilometer, placing Toorak in the upper quartile relative to national locations assessed by AreaSearch. Toorak's growth rate of 7.7% since the census is within 2.2 percentage points of the national average (9.9%), indicating competitive growth fundamentals. The primary driver for this population growth was overseas migration, contributing 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 by this data, AreaSearch employs the VIC State Government's Regional/LGA projections released in 2023, adjusting using a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Future population dynamics anticipate lower quartile growth nationally, with Toorak expected to increase by 357 persons to 2041 based on the latest annual ERP population numbers, reflecting a decline 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

Toorak has averaged approximately 65 new dwelling approvals annually. Over the past five financial years, from FY21 to FY25326 homes were approved, with an additional 30 approved in FY26 so far. Despite population decline in recent years, development activity has been adequate relative to other areas, benefiting buyers while developers focus on high-end properties with an average construction cost of $2,378,000.

This year, $37.9 million in commercial approvals have been registered, indicating strong local business investment. Compared to Greater Melbourne, Toorak has significantly less development activity, 58.0% below the regional average per person, which typically strengthens demand and prices for existing properties. Recent construction comprises 29.0% detached dwellings and 71.0% townhouses or apartments, providing accessible entry options for downsizers, investors, and first-time buyers. The location has approximately 299 people per dwelling approval, suggesting room for growth. With population expected to remain stable or decline, Toorak should see reduced pressure on housing, potentially presenting 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 strong levels of nearby infrastructure activity, ranking in the top 30% nationally

Changes to local infrastructure significantly impact an area's performance. AreaSearch has identified 21 projects likely affecting 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 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 exceptional strength compared to most Australian markets

Toorak has a highly educated workforce with professional services being strongly represented. The unemployment rate in Toorak was 2.6% in the past year, showing an estimated employment growth of 4.7%. As of September 2025, 7,667 residents are employed, with an unemployment rate of 2.1%, which is below Greater Melbourne's rate of 4.7%.

Workforce participation in Toorak is 65.2%, compared to Greater Melbourne's 71.0%. According to Census responses, 47.7% of residents work from home, potentially influenced by Covid-19 lockdown impacts. The dominant employment sectors are professional & technical, health care & social assistance, and finance & insurance. Toorak has a particularly strong specialization in professional & technical services with an employment share 1.8 times the regional level, while construction has limited presence at 5.1% compared to 9.7% regionally.

The area appears to offer limited local employment opportunities as indicated by the count of Census working population versus resident population. Over the 12 months to September 2025, employment in Toorak increased by 4.7%, while labour force grew by 4.6%, keeping the unemployment rate relatively stable at 2.1%. In contrast, Greater Melbourne saw employment rise by 3.0%, labour force grow by 3.3%, and unemployment increase by 0.3 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 suggest that over five years, national employment is forecast to expand by 6.6% and by 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, though these are simple weighted extrapolations for illustrative purposes and do not account for localized population projections.

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 that Toorak SA2 has one of the highest incomes nationally. The median income is $79,405 and the average income is $240,326. In contrast, Greater Melbourne has a median income of $57,688 and an average income of $75,164. Based on Wage Price Index growth of 8.25% since financial year 2023, the estimated median income as of September 2025 is approximately $85,956, and the average income is $260,153. Census data reveals that household, family, and personal incomes in Toorak are among the highest nationally, ranking between the 91st and 97th percentiles. The majority of residents, 35.9%, fall into the $4000+ income bracket (5,010 people), unlike the surrounding region where the $1,500 - 2,999 bracket dominates with 32.8%. Notably, 45.3% earn above $3,000 weekly. After housing costs, residents retain 87.1% of their 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

In Toorak, as per the latest Census, 30.3% of dwellings were houses while 69.6% were other types such as semi-detached properties, apartments, and 'other' dwellings. This differs from Melbourne metropolitan area's figures which showed 67.9% houses and 32.1% 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 in the area was $3,146, higher than Melbourne metro's average of $2,000. Median weekly rent in Toorak was recorded at $490, compared to Melbourne metro's $390. 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 lower-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 constitute 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, 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 is notably higher than national averages. Among residents aged 15+, 58.8% have university qualifications, compared to Australia's 30.4% and Victoria's 33.4%. The area has a significant educational advantage, with bachelor degrees being 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+, including advanced diplomas (10.3%) and certificates (6.9%).

Educational participation is high, with 27.6% of residents currently enrolled in formal education. This includes tertiary education (9.9%), secondary education (6.8%), and primary education (6.3%).

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

The analysis of public transport in Toorak shows that there are currently 59 active transport stops operating. These consist of a mix of lightrail and bus services. The area is served by 8 individual routes that collectively provide 7,328 weekly passenger trips. Transport accessibility is rated as excellent, with residents typically located approximately 185 meters from the nearest transport stop. As Toorak is primarily residential, most commuting is outward-bound. Car remains the dominant mode of transport at 73%, while train usage stands at 9% and walking at 6%.

Vehicle ownership averages 1.1 per dwelling, which is below the regional average. According to the 2021 Census, a high proportion of residents work from home, with this figure standing at 47.7%. This may be reflective of COVID-19 conditions. Service frequency across all routes averages approximately 1,046 trips per day, equating to around 124 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

Toorak's health outcomes data shows exceptional results based on AreaSearch's assessment of mortality rates and chronic condition prevalence. The area has a very low prevalence of common health conditions across all age groups. Approximately 95% of Toorak's total population (13,244 people) has private health cover, compared to 56.7% in Greater Melbourne and the national average of 55.7%.

The most prevalent medical conditions are arthritis and mental health issues, affecting 6.8 and 6.1% of residents respectively. A total of 73.4% of residents report being completely free from medical ailments, compared to 72.6% in Greater Melbourne. Toorak has a higher proportion of seniors aged 65 and over at 30.7% (4,285 people), compared to Greater Melbourne's 15.1%. Health outcomes among seniors in Toorak are strong, 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 cultural diversity was found to be high, with 21.2% of its population speaking a language other than English at home and 32.9% born overseas. Christianity is the predominant religion in Toorak, making up 43.5%. Notably, Judaism is overrepresented at 10.7%, significantly higher than Greater Melbourne's average of 1.0%.

In terms of ancestry, the top three groups are English (24.4%), Australian (16.8%), and Other (11.0%). There are also notable divergences in certain ethnic groups: Polish is overrepresented at 3.2% compared to the regional average of 0.8%, Russian at 1.1% versus 0.4%, and Hungarian at 0.7% against a regional average of 0.3%.

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 12.7% of Toorak's population, compared to Greater Melbourne's percentage, while the 35-44 cohort makes up 9.4%. This 75-84 concentration is higher than the national average of 6.1%. According to post-2021 Census data, the 75-84 age group has increased from 9.6% to 12.7%, while the 45-54 cohort has decreased from 11.9% to 10.1% and the 35-44 group has dropped from 10.6% to 9.4%. Demographic modeling indicates that Toorak's age profile will significantly change by 2041, with the 85+ cohort projected to grow by 87%, adding 589 residents to reach 1,271. Senior residents aged 65 and above will drive all population growth, emphasizing demographic aging trends. Meanwhile, population declines are projected for the 45-54 and 0-4 age cohorts.