Ep. 61 | The New Rich: Why Melbourne’s Young Wealthy Are Ditching Toorak

Where is Melbourne’s new money actually moving? And what suburbs are attracting high-income millennials and young professionals right now?In this episode of Buying Melbourne, Tristan Larkin and James Rankin unpack the latest income data, auction trends, and on-the-ground agent insights to reveal where young and wealthy buyers are gravitating across Melbourne.From shifting clearance rates to changing suburb preferences, this episode explores how lifestyle, walkability, schools, and long-term strategy are shaping the next wave of premium buyers.What You’ll Learn:Latest Melbourne auction trends and what 50%+ clearance rates really signalWhy stock levels are tighter than expected and agents are feeling cautiousHow media headlines and uncertainty are creating buyer inactionThe current sweet spot for upgraders between $1M–$2MWhere $3,000+ per week earners are clustering, including Richmond, South Yarra, Prahran and CollingwoodWhy some buyers are choosing amenity-rich suburbs over ToorakThe growing importance of walkability and high street cultureHow school zones continue to influence young money decisionsWhy demand is flowing into suburbs like Malvern East and Glen IrisWhat these migration patterns signal for future capital growthThis episode highlights a key shift in Melbourne’s prestige market.Young wealth is prioritising lifestyle density, walkability, strong schools, and community over traditional status alone.For buyers and investors alike, watching where high earners choose to live can offer powerful insight into the next wave of growth.