Deepdene Ranks as Melbourne's Second Most Expensive Suburb
Deepdene, a locality within Melbourne, has been recognized as the city's second most expensive suburb.
Deepdene, located in Melbourne, has been identified as the city's second most expensive suburb.
According to figures released in property data firm Cotality's 2025 Best of the Best report, Deepdene commands a median house value of $3,518,115. This places it just behind Toorak, which maintains its status as Melbourne's most expensive suburb, with a median house value reaching $4,155,231.
Deepdene: From Neighborhood to Bounded Locality
Formerly a neighborhood within Balwyn, Deepdene gained recognition as a bounded locality in April 2010. It spans 85 hectares, making it one of Melbourne's smallest suburbs.
It spans 85 hectares, making it one of Melbourne's smallest suburbs.
The 2021 census reported a population of approximately 2100 residents and 903 homes within the locality.