What St Kilda’s Property Blues Mean for Buyers and Renters

St Kilda, once synonymous with boho charm, laid-back beach living, and a pulsating arts vibe, is showing signs of wear — and the property market is following suit.

According to recent reports, apartment prices in the bayside suburb have taken a noticeable dip, as concerns around cleanliness, crime, and ageing infrastructure begin to dull its sparkle. For a suburb that used to draw buyers with its cultural cachet and seaside lifestyle, it marks a significant shift.

However, while some are packing up for more polished, family-friendly hoods, others remain loyal to St Kilda’s gritty charm, drawn to its diversity, character, and location just 6km from Melbourne’s CBD. Local residents note that despite the surface struggles, the suburb retains its heart – complete with vibrant cafes, local gigs, and eclectic locals.

So what does this mean for everyday buyers and renters?

If you're in the market, the current dip in apartment prices could be an opening. Compared to hot inner-city postcodes, St Kilda is offering more affordable options that still carry long-term lifestyle appeal. For investors, lower entry prices may present an opportunity – especially if future revitalisation efforts restore the suburb’s former glory.

And for renters, a cooling market could lead to better deals or more negotiating power, especially in the apartment-heavy parts of the suburb.

Of course, the key is knowing what you're looking for – and what you're getting yourself into.

Before taking the plunge though, it’s worth comparing your options. So if you're looking for a home loan to fund that next move then check out our home loans search page and calculators to work out what you can borrow, and how much it will cost you in the long run.

St Kilda’s story is a reminder that property markets move in cycles. As one chapter closes, another begins — and for switched-on buyers and renters, opportunities often sit under the surface.