17 Oct 2025 10 Best Downsizers Suburbs in Melbourne: Where Lifestyle Meets Affordability
Melbourne’s housing landscape is shifting, with more homeowners now opting for smaller, low-maintenance homes. As property prices respond to economic fluctuations and demographic changes, downsizing has become an attractive choice for many, especially those over 55 seeking comfort, convenience, and a community setting.
Identifying the best downsizers suburbs in Melbourne is crucial for finding that balance between lifestyle, affordability, and long-term value.
Mortgage brokers at EverLend can help you find tailored home loan solutions if you’re considering making the move. With access to a range of lenders and insights into the Australian property market, working with a broker can simplify your transition to your perfect new home.
So, where should you be looking? Let’s dive into Melbourne’s top picks for downsizers.
Best Melbourne Downsizers Suburbs
1. Glen Waverley
A standout in Melbourne’s eastern suburbs, Glen Waverley offers the perfect mix of suburban tranquillity and urban convenience. Popular among retirees and downsizers, this suburb boasts modern apartments, proximity to The Glen shopping centre, and easy access to public transport. It’s also known for its vibrant community centres and local eateries.
- Median House Price: $1,360,000
- Median Unit Price: $710,000
- Weekly Rent: $600
- Infrastructure Development: Ongoing expansion of Glen Waverley Station and upgrades to Springvale Road
Despite slightly exceeding $1 million for houses, unit prices make it a viable choice for downsizers seeking a low-maintenance lifestyle.
2. Blackburn South
Located in Melbourne’s east, Blackburn South is a quiet, leafy suburb that offers a relaxed atmosphere ideal for retirement living. With plenty of green spaces, local cafes, and a strong sense of community, it’s a hidden gem. Its peaceful streets and abundance of single-level, low-maintenance homes make it especially attractive to over-55 downsizers seeking comfort and convenience.
- Median House Price: $1,050,000
- Median Unit Price: $745,000
- Weekly Rent: $540
- Infrastructure Development: Local street upgrades and enhancements to Forest Hill Chase Shopping Centre
It’s especially popular for low-maintenance homes and residents enjoy nearby access to the Royal Botanic Gardens via direct roadways.
3. St Kilda
St Kilda blends coastal living with urban amenities. Overlooking Port Phillip Bay, it’s ideal for downsizers wanting vibrant social activities, cafes, and scenic walking trails. This suburb is also close to the Royal Botanic Gardens and only a tram ride away from the CBD. It’s particularly suited to retirement living thanks to its mix of low-maintenance homes, community events, and easy access to healthcare facilities.
- Median House Price: $1,450,000
- Median Unit Price: $610,000
- Weekly Rent: $530
- Infrastructure Development: Light rail improvements and community space redevelopments
Looking for a St Kilda mortgage broker? EverLend can assist you with flexible home loan options perfect for this lifestyle-rich area.
4. Macleod
For those who want to feel like they’re in an Australian neighbourhood without venturing too far from the city, Macleod is a top choice. It offers great parks, a tight-knit community, and plenty of downsizer-friendly units. Macleod is especially popular among over-55 homeowners looking for quiet streets, proximity to healthcare facilities, and a slower pace without leaving Melbourne.
- Median House Price: $1,100,000
- Median Unit Price: $715,000
- Weekly Rent: $500
- Infrastructure Development: Train station upgrades and new medical facilities
Macleod also has nearby healthcare facilities that are especially attractive for retirees.
5. Carnegie
Carnegie is becoming increasingly popular among over-55s who love its café culture, public transport options, and convenient shopping. With a mix of new apartments and older-style units, there’s something here for every budget. The suburb’s walkability and access to community centres make it a practical and enjoyable choice for those seeking low-maintenance homes and an active retirement lifestyle.
- Median House Price: $1,400,000
- Median Unit Price: $670,000
- Weekly Rent: $520
- Infrastructure Development: Koornang Road revitalisation and level crossing removals
It’s a great spot for those interested in resort-style living with easy access to the city and beaches.
Ready to downsize into one of the best downsizers suburbs in Melbourne? Let our expert Melbourne mortgage brokers simplify your loan process. Call 03 7036 3356 or visit www.everlend.com.au today.
6. Altona
Altona, with its beachfront and community feel, offers a relaxed environment without losing access to essentials. Residents enjoy local seafood spots, quiet parks, and views of Port Phillip Bay. It’s an ideal location for retirement living, offering low-maintenance homes in a peaceful coastal setting with easy access to public transport and healthcare services.
- Median House Price: $970,000
- Median Unit Price: $640,000
- Weekly Rent: $490
- Infrastructure Development: Wetlands upgrades and Altona pier redevelopment
Its coastal appeal makes it an affordable alternative to Noosa & Surrounds or Hervey Bay.
7. Coburg
Coburg mixes culture, convenience, and affordability. It’s becoming a popular choice for downsizers seeking a community setting with strong public transport links and access to urban living. With a growing number of modern, low-maintenance homes and nearby community centres, it suits over 55s looking for an active, connected lifestyle within a diverse Australian neighbourhood.
- Median House Price: $1,020,000
- Median Unit Price: $570,000
- Weekly Rent: $480
- Infrastructure Development: Coburg Station precinct upgrades
Plus, the local markets and community festivals offer great opportunities for social activities.
8. Essendon
With a charming mix of heritage homes and modern developments, Essendon offers downsizers the perfect balance of peace and proximity. It’s well-connected to healthcare facilities, schools, and shops. Its range of low-maintenance units and vibrant local community make it an attractive option for over 55s seeking a convenient, well-established suburb with a touch of history.
- Median House Price: $1,300,000
- Median Unit Price: $645,000
- Weekly Rent: $540
- Infrastructure Development: Airport West precinct renewal and tram line expansion
Essendon is ideal for those looking for low-maintenance homes in an established area.
9. South Yarra
South Yarra is renowned for its sophistication and riverside appeal. With access to the Yarra River, Royal Botanic Gardens, and boutique shopping, it’s the right fit for downsizers who don’t want to compromise on lifestyle. Its luxury low-maintenance homes, vibrant social scene, and proximity to healthcare facilities make it ideal for over-55s seeking stylish retirement living in a central location.
- Median House Price: $2,000,000
- Median Unit Price: $640,000
- Weekly Rent: $600
- Infrastructure Development: South Yarra Station redevelopment and Domain precinct upgrades
Downsizing here offers unmatched luxury within a thriving city hub.
10. Heidelberg
Heidelberg offers a peaceful, green environment with excellent healthcare services. Home to the Austin Hospital, it’s ideal for those prioritising medical support in retirement living. The suburb also features a variety of low-maintenance homes and access to community centres, making it a smart choice for over-55s seeking comfort, convenience, and peace of mind.
- Median House Price: $1,000,000
- Median Unit Price: $600,000
- Weekly Rent: $500
- Infrastructure Development: Burgundy Street redevelopment and new cycling trails
Also nearby is the Mitchelton cellar door, adding a touch of wine country to suburban living.
Sources: Realestate.com.au, Domain, Victoria Government, SQM Research. Please note that property prices tend to fluctuate over time; hence, it’s always best to consult with a real estate agent for the latest market values.
Why These Downsizers’ Suburbs Stand Out
Each of these suburbs offers unique advantages, whether it’s access to public transport, a community setting, or affordability. Many are seeing new communities being developed, complete with features like indoor pools, wellness facilities, and recreation spaces.
Perfect for retirees and over 55s seeking a resort-style living setup, they’re a great alternative to regional hotspots like Hervey Bay, Coffs Harbour, Port Macquarie, or the Sunshine Coast hinterland.
How EverLend Can Help You Downsize
Thinking of making the move? EverLend’s team of Melbourne mortgage brokers can guide you through home loan options tailored to downsizers. Whether you need advice on reverse mortgages, bridging finance, or want to explore investment property loans, EverLend is here to help you find the right solution. Learn more from their expert guides:
- Guide to Non-Conforming Loans in Melbourne
- Interest Only Home Loans Melbourne
- Guide for Next Home Buyers Melbourne
FAQs
What are the best downsizers suburbs in Melbourne for over 55s?
Glen Waverley, Blackburn South, and St Kilda are top choices due to community settings, public transport, and access to healthcare.
Are unit prices under $1 million in Melbourne suburbs suitable for downsizing?
Yes, many Melbourne suburbs offer units below $1 million, ideal for affordable downsizing.
What should I look for in a downsizer suburb?
Look for low-maintenance homes, public transport, local amenities, healthcare, and strong community support.
How can a mortgage broker help me downsize?
Mortgage brokers can provide expert advice, compare loans, and help you find the best option to finance your new home.
Are there retirement villages in Melbourne suburbs?
Yes, several suburbs offer retirement villages and resort-style living communities for retirees.
What kind of home loan options are available for downsizers?
Options include reverse mortgages, bridging finance, and downsizer contributions into superannuation.
Is downsizing a good idea during economic fluctuations?
Yes, downsizing can offer financial flexibility and reduce upkeep costs during uncertain economic conditions.
Final Thoughts
If you’re considering the next chapter of your life, these 10 best downsizers suburbs in Melbourne offer a blend of comfort, accessibility, and lifestyle. Whether it’s enjoying the ocean breeze in St Kilda, the riverside charm of South Yarra, or the peaceful streets of Blackburn South, each location presents a unique opportunity to simplify your living while staying connected.
For help financing your transition, contact the friendly Melbourne mortgage brokers at EverLend. With personalised advice and access to competitive home loan products, they’re your go-to team in Victoria. Visit www.everlend.com.au or call 03 7036 3356 today to explore your options.