Celebrity Travel
Toorak Has Been Melbourne's Wealthiest Address Since the Gold Rush Built It
Toorak, a few kilometres from central Melbourne, has been Australia's most consistently affluent suburb since gold rush-era wealth built its first grand estates in the 19th century, and census data still ranks it among the country's highest-income postcodes.
Sep 25, 2026 · BigTravel.in
Toorak sits a few kilometres southeast of central Melbourne's CBD, and has held its position as one of Australia's wealthiest suburbs for well over a century. Its name comes from an 1840s homestead, Toorak House, built by an early Victorian colonial figure, and the area's transformation into a grand residential district followed the wealth generated by Victoria's 1850s gold rush, when successful pastoralists and merchants began building large estates on its ridge above the Yarra River.
What the suburb looks like today
Toorak's streets, particularly around Toorak Road, St Georges Road and the Domain Road area, remain lined with large heritage properties, many on generous blocks that are increasingly rare this close to an Australian city centre. Australian Bureau of Statistics income and property data has repeatedly placed Toorak among the country's highest-earning and highest-value postcodes, a position it has held consistently rather than gained recently.
A suburb, not a resort town
Unlike many of the old-money enclaves that draw seasonal crowds, Toorak functions as a full-time residential suburb within a working city, with no beach, ski slope or single seasonal draw explaining its wealth. Its appeal has always been proximity: a short, leafy distance from Melbourne's CBD, combined with large blocks and a long-established reputation, rather than any resort amenity.
What's nearby
Toorak Village, the suburb's small commercial strip, holds boutique shopping and cafés at a scale suited to the surrounding streets rather than a tourist crowd. The suburb borders South Yarra and sits close to the Royal Botanic Gardens Victoria, making it an easy, walkable addition to a Melbourne itinerary rather than a separate trip.
Traveller tips
- Toorak is residential; admire the heritage streetscapes from the footpath rather than treating private driveways as photo stops.
- Toorak Village on Toorak Road is the suburb's small café and boutique strip, an easy stop on a walk through the area.
- The suburb is a short tram or taxi ride from central Melbourne, making it simple to combine with a CBD-based stay.
- The Royal Botanic Gardens Victoria borders the area and makes a natural next stop after walking Toorak's streets.
Where this is
Toorak, Melbourne, Australia