Melbourne has 5 distinct Class A submarkets we track, anchored by CBD East (Collins Street) at the trophy tier.
Melbourne has 5 distinct Class A submarkets we track, anchored by CBD East (Collins Street) at the trophy tier.
**CBD East (Collins Street)** (trophy, ~A$880/sqm/yr · ≈ $53.1 PSF/yr USD) — Trophy financial and legal spine. **CBD West (Spencer Street)** (trophy, ~A$800/sqm/yr · ≈ $48.3 PSF/yr USD) — Established trophy with rail anchor. **Docklands** (prime, ~A$700/sqm/yr · ≈ $42.3 PSF/yr USD) — Trophy waterfront expansion. **Southbank** (prime, ~A$750/sqm/yr · ≈ $45.3 PSF/yr USD) — Mixed-use trophy across the Yarra. **Parkville & CBD North** (prime, ~A$600/sqm/yr · ≈ $36.2 PSF/yr USD) — Life sciences and university adjacency.
| city | Melbourne |
|---|---|
| country | Australia |
| region | APAC |
| classARentLocal | 720 AUD/sqft/yr |
| classARentUsd | $468/sqft/yr |
| vacancy | 18.4% |
| typicalLeaseYears | 7 |
| typicalRentFreeMonths | 14 |
| submarkets | 5 |
| primeYieldPct | 5.4% |
| trophyCount | 2 |
| primeCount | 3 |
Reviewed by Kenji Watanabe — APAC contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.