St Kilda’s property market has seen a small decline in the past five years, according to PropTrack data.
Rising crime rates have caused St Kilda prices to dip in the past five years, with local agents saying their stats reveal female buyers are ‘avoiding the area.
According to Crime Statistics Agency (CSA) Victoria, the City of Port Phillip recorded 10,853 criminal incidents in 2024, including 931 assaults — the second-highest in a decade — and 2,148 car break-ins.
While the statistics might raise concern, local real estate experts say they haven’t significantly impacted buyer confidence, as gentrification and affordability continue to drive demand.
RELATED: 1.5 million Aussies in limbo despite rate cut
Templestowe home fetches $2.5m as Melb auctions feel the love
‘My rent has doubled in 10 years’: tenants brace for further rise
PropTrack data shows St Kilda’s median house price has increased by 2.2 per cent in the past year to $1.538m, while unit prices dipped by 3.1 per cent to $567,500.
Over five years, house prices have fallen 1.6 per cent, and units 3.8 per cent.
BigginScott St Kilda and Elwood director Claudio Peruzza said first-home buyers were leading apartment sales but noted a distinct trend – young single women were largely avoiding the area.
“Looking at recent sales data, young female buyers don’t typically purchase in St Kilda,” Mr Peruzza said.
“While we don’t know exactly why, perceptions of safety may play a role.”
![](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
PropTrack data shows despite crime fears, first-home buyers are still trying to get into St Kilda
First-home buyers are snapping up St Kilda properties despite ongoing concerns over crime rates. Picture: Supplied
Buyers’ agent Cate Bakos said the Proptrack suburb price data reflected broader market fluctuations rather than a direct reaction to crime rates and while some clients inquired about crime – it wasn’t a deal-breaker for most.
“Yes, crime exists in some pockets, but that’s true for many parts of Melbourne,” Ms Bakos said.
“Buyers are more focused on lifestyle factors like night-life and accessibility.”
St Kilda residents protest on Acland St, calling for increased police presence amid crime surge. Picture: Josie Hayden
Gentrification and luxury developments have also attempted to play a role in reshaping the suburb.
Marshall White Port Phillip auctioneer Matthew Grima said major transformations, such as The Block’s renovations of The Gatwick and The Oslo, along with Saint Moritz, had revitalised St Kilda.
St Kilda’s transformation continues as property demand grows despite past challenges. Picture: Mark Stewart
“St Kilda has seen a very positive shift over the years, shedding much of its past stigma and undergoing significant gentrification,” Mr Grima said.
“It has always had a unique, eclectic character — it beats to the rhythm of its own drum — but now it also offers a more desirable and sophisticated lifestyle.”
Mr Grima added that St Kilda remained more affordable than neighbouring suburbs like Middle Park and Albert Park.
Whitefox Bayside director Lana Samuels said St Kilda’s evolution had helped reposition it as a premium lifestyle location.
“St Kilda has evolved dramatically over the years,” Ms Samuels said.
“The blend of heritage, luxury, and lifestyle is incredibly special.”
Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.
MORE: Why this Yarraville home has buyers talking all weekend
Werribee auction surprise: Why buyers wont back down
Melbourne buyers risk missing out amid anticipated rate cut
david.bonaddio@news.com.au
