Banks of growth

Herald Sun - Property - - SUBURB PROFILE -

FROM the Arts Cen­tre spire to Eureka Tower, South­bank has loads of Mel­bourne land­marks.

Like the Na­tional Gallery of Vic­to­ria, the Aus­tralian Cen­tre for Con­tem­po­rary Art, Jeff ’s Shed and the flame-throw­ing py­lons out­side Crown Casino.

The sub­urb emerged op­po­site the river from Flin­ders St Sta­tion in the early 1990s with South­gate Shop­ping Cen­tre and South­bank Prom­e­nade.

Since then, con­struc­tion of thou­sands of apart­ments in the 1.7sq km area con­tin­ues un­abated, with more on the draw­ing board, in­clud­ing a new taker of the tallest build­ing ti­tle, Aus­tralia 108 (right).

South­bank’s dwellings are al­most ex­clu­sively apart­ments, from one-bed­room stu­dent spa­ces to lux­ury pent­houses in the clouds.

CoreLogic RP Data records sales of ex­ist­ing prop­er­ties, with some 540 in the past months achiev­ing a me­dian price of $561,000.

South­bank has a young res­i­dent pop­u­la­tion, in­clud­ing 15 per cent who are univer­sity stu­dents. But more than 33,000 peo­ple work in South­bank, with pro­fes­sional the most com­mon oc­cu­pa­tion listed.

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