Renting in Southbank Melbourne — 2026 Guide

Renting in Southbank

Southbank’s rental market is apartment-only. No houses, no townhouses. The stock is plentiful — with this many towers, there’s always something available. Competition varies by building quality and view.

Current Prices (Early 2026)

Property Type	Weekly Rent
Studio	$380-500
1-bed apartment	$550-750
2-bed apartment	$750-900+

The difference between a 5th-floor apartment facing another tower and a 50th-floor apartment with river views can be $200/week.

What to Check Before Signing

Building defects — Some Southbank towers have known issues (cladding, water ingress). Ask directly.
Wind exposure — Higher floors and certain orientations get brutal wind. Visit on a windy day.
Noise — City Road and Southbank Boulevard are noisy. Higher floors help but don’t eliminate traffic/tram noise.
Natural light — Many Southbank apartments face other towers. Check sunlight at different times of day.
Parking — Not always included. A separate car space can add $50-80/week. Street parking is virtually non-existent.
Pet policy — Varies by building. Confirm in writing if you have or plan to get a pet.
Internet — Check NBN availability and connection type for your specific apartment.

Best Areas to Rent

Riverside Quay / Southbank Boulevard — Newer buildings, better amenities, close to tram 96 and Freshwater Place dining.

Kavanagh Street — Quieter residential character, further from tourist crowds, still walkable to everything.

Sturt Street area — Close to Arts Precinct, good for culture lovers. Some heritage buildings with character.

Avoid if noise-sensitive: City Road frontage, lower floors facing the Promenade.

FAQ

How much is a one-bedroom in Southbank? $550-750/week depending on building, floor, and view. Expect $600+ for anything decent with natural light.

Is parking included in Southbank rentals? Often not. Check the listing carefully. A separate car space adds $50-80/week. Many residents go car-free.

Which Southbank buildings are best for renters? Newer buildings on Southbank Boulevard and Riverside Quay tend to have better amenities and management. Avoid buildings with known defect issues — ask the agent directly.

The Verdict

Renting in Southbank is straightforward — plentiful stock, range of price points, and a landlord market that’s less competitive than some inner suburbs. The key is choosing the right building and the right aspect. Visit at different times of day, check for wind and noise, and confirm parking and pet policies in writing. For the right person — young professional, car-free, culture-loving — a well-chosen Southbank apartment is one of Melbourne’s best rental experiences.

More on Southbank: Southbank Suburb Guide · Southbank Cost of Living · Southbank for Young Professionals

Renting in Southbank Melbourne — 2026 Guide