property
Where Downsizers Are Moving and Why in Toorak
Transactions in the first half of 2026 show older owners leaving larger family homes for compact apartments on specific Toorak streets.
How we reported this
Fourteen apartments changed hands on Grange Road and Orrong Road between January and June this year, all purchased by downsizers aged 65 and over according to local sales records.
The pattern reflects steady demand for single-level living within walking distance of daily services while owners retain proximity to long-term social networks.
Preferred Streets and Amenities
Buyers have concentrated on the eastern end of Grange Road near Toorak Village shops and the section of Orrong Road that runs beside the Toorak Station platform. These locations give direct access to the weekly Toorak Community Market held at the station forecourt on Thursdays and to the Toorak Residents Association offices on Grange Road for social programs. Several recent contracts included ground-floor units in the 2023-completed Grange Gardens complex, where lift access and secure parking were listed as deciding factors.
Agents handling the sales report that most buyers previously lived within two kilometres of these addresses and wanted to avoid relocation outside the suburb.
Price Evidence and Timing
Median sale price for the 14 units reached $1.95 million, a figure drawn from settlement notices lodged with the Toorak property registry through June. This compares with an average of $2.4 million paid for three-bedroom houses in the same postcode during the same period. The gap has widened since March when interest rates stabilised at 4.35 percent, prompting several owners to list larger holdings on Kooyong Road.
Stock levels remain tight, with only nine comparable apartments currently listed on the two streets.
Prospective buyers should review body-corporate records for the specific buildings on Grange Road and Orrong Road before making offers, and inspect during weekday market hours to assess noise and parking availability at peak times.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.