Toorak

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

Toorak's population, as of May 2026, is approximately 13,611. This figure represents an increase from the 2021 Census count of 12,953 people, marking a rise of 658 individuals (5.1%). The increase is inferred from the Australian Bureau of Statistics' estimated resident population of 13,610 in June 2025 and an additional 237 validated new addresses since the Census date. This results in a population density ratio of 3,150 persons per square kilometer, placing Toorak in the upper quartile relative to other locations assessed by AreaSearch. Overseas migration accounted for approximately 97.9% of overall population gains during recent periods.

AreaSearch uses ABS/Geoscience Australia projections released in 2024 with a base year of 2022 for each Statistical Area Level 2 (SA2) area. For areas not covered by this data, AreaSearch employs the Victorian State Government's Regional/LGA projections from 2023, adjusting using a method of weighted aggregation of population growth from Local Government Area (LGA) to SA2 levels. Considering projected demographic shifts, lower quartile growth is anticipated for Australian statistical areas. Toorak is expected to grow by 358 persons to the year 2041 based on the latest annual ERP population numbers, reflecting an increase of approximately 2.6% over the 16-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, 75 approvals have been recorded. The population has declined in recent years, suggesting that new supply has likely kept pace with demand, offering buyers good choice while developers focus on the premium market with high-end developments at an average construction cost value of $2,378,000. This financial year has seen $37.9 million in commercial approvals registered, indicating strong commercial development momentum.

Compared to Greater Melbourne, Toorak shows substantially reduced construction activity, with 58.0% fewer approvals per person, which typically reinforces demand and pricing for existing homes. New development consists of 29.0% detached dwellings and 71.0% attached dwellings, favouring higher-density living that creates more affordable entry points for downsizers, investors, and first-home buyers. With around 299 people per approval, Toorak reflects a low density area. According to the latest AreaSearch quarterly estimate, Toorak is expected to grow by 357 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.

Looking ahead, Toorak is expected to grow by 357 residents through to 2041 (from the latest AreaSearch quarterly estimate). 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 very high levels of nearby infrastructure activity, ranking in the top 20% nationally

Changes to local infrastructure significantly impact an area's performance. AreaSearch has identified 20 projects likely to affect 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.

The labour market in Toorak shows considerable strength compared to most other Australian regions

Toorak has an educated workforce with professional services well represented. The unemployment rate was 2.7% in the past year, with an estimated employment growth of 4.5%. As of December 2025, there are 7,732 residents employed at a 2.1% lower unemployment rate than Greater Melbourne's 4.8%.

Workforce participation is lower at 65.1%, compared to Greater Melbourne's 69.9%. Home-based work was high at 47.7%. Employment concentrations are in professional & technical, health care & social assistance, and finance & insurance sectors. Toorak specializes in professional & technical jobs with a share of 1.8 times the regional level but has fewer construction jobs at 5.1% compared to Greater Melbourne's 9.7%.

Local employment opportunities appear limited based on Census data. In the 12-month period, employment increased by 4.5%, matching labour force growth, while unemployment remained stable. Greater Melbourne had lower employment and labour force growth with a slight unemployment rise. National employment forecasts from May-25 project national growth at 6.6% over five years and 13.7% over ten years. Applying these projections to Toorak's mix suggests local employment should increase by 7.7% in five years and 15.2% in ten years, though this is a simplified 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 Toorak SA2 had a median taxpayer income of $79,405 and an average income of $240,326 in the financial year 2023, according to postcode level ATO data aggregated by AreaSearch. Nationally, these figures are exceptionally high, contrasting with Greater Melbourne's median income of $57,688 and average income of $75,164 in the same period. By March 2026, estimates based on a 9.62% Wage Price Index growth would be approximately $87,044 (median) and $263,445 (average). The 2021 Census data ranks household, family, and personal incomes in Toorak between the 91st and 97th percentiles nationally. Income distribution shows that 35.9% of residents earn $4,000 or more weekly, which is different from the regional pattern where the dominant segment is $1,500 to $2,999 with 32.8%. The area's economic strength is evident in 45.3% of households achieving high weekly earnings exceeding $3,000, supporting elevated consumer spending. After housing costs, residents retain 87.1% of their income, indicating 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 structure, as per the latest Census, consisted of 30.3% 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 23.6% and rented ones at 32.0%. The median monthly mortgage repayment was $3,146, above Melbourne metro's average of $2,000, while the median weekly rent was $490, higher than Melbourne metro's $390. Nationally, Toorak's mortgage repayments were significantly higher at $3,146 compared to Australia's 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 59.7% 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 significantly exceeds national and state averages. Among residents aged 15+, 58.8% possess university qualifications, compared to 30.4% nationally and 33.4% in Victoria. 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, with advanced diplomas at 10.3% and certificates at 6.9%.

Educational participation is high, with 27.6% 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 59 active public transport stops, offering a mix of light rail and bus services. These are served by eight routes that facilitate 7,328 weekly passenger trips in total. Transport accessibility is rated excellent, with residents located an average of 185 meters from the nearest stop. Most residents commute outward daily. Car remains the dominant mode of transport at 73%, followed by train at 9% and walking at 6%. The average vehicle ownership per dwelling is 1.1, below the regional average.

According to the 2021 Census, 47.7% of residents work from home, which may be influenced by COVID-19 conditions. Service frequency averages 1,046 trips per day across all routes, equating to approximately 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 evaluation of mortality rates and chronic condition prevalence, with very low prevalence across all age groups. The area has a private health cover rate of approximately 95% (12,916 people), compared to Greater Melbourne's 56.7%, and the national average of 55.7%. Arthritis and mental health issues are the most common conditions, affecting 6.8% and 6.1% respectively, while 73.4% report being completely clear of medical ailments, compared to 72.6% in Greater Melbourne.

Toorak has 29.9% of residents aged 65 and over (4,068 people), higher than Greater Melbourne's 15.0%. 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 showed high cultural diversity, with 21.2% speaking a language other than English at home and 32.9% born overseas. Christianity was the predominant religion in Toorak, comprising 43.5%. Notably, Judaism was significantly overrepresented at 10.7%, compared to Greater Melbourne's average of 1.0%.

In terms of ancestry, the top groups were English (24.4%), Australian (16.8%), and Other (11.0%). Some ethnic groups showed notable differences: Polish was overrepresented at 3.2% in Toorak versus 0.8% regionally, Russian at 1.1% versus 0.4%, and Hungarian at 0.7% versus 0.3%.

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

At 47 years, Toorak's median age is considerably higher than Greater Melbourne's average of 37 years and exceeds the national average of 38 years. The 75-84 age group has strong representation at 12.2%, compared to Greater Melbourne's percentage, while the 35-44 cohort is less prevalent at 10.1%. This 75-84 concentration is well above the national average of 6.1%. According to post-2021 Census data, the 75 to 84 age group has grown from 9.6% to 12.2%, and the 85+ cohort has increased from 4.0% to 5.1%. Conversely, the 45 to 54 cohort has declined from 11.9% to 9.9%, and the 65 to 74 group has dropped from 13.6% to 12.6%. Demographic modeling suggests that Toorak's age profile will evolve significantly by 2041. The 85+ cohort is projected to grow by 93%, adding 645 residents to reach 1,341. Senior residents aged 65 and above will drive all population growth, underscoring demographic aging trends. Meanwhile, population declines are projected for the 45 to 54 age group and the 0 to 4 age cohort.