Affordable apartments Southbank, Vic

New contemporary apartments designed for long-term rental living at reduced rent 

Renting built around you

We believe everyone deserves a place to call home—one that is safe, vibrant, and welcoming. That is why we are bringing high-quality, affordable city living right to the heart of Melbourne. 

Our thoughtfully designed studio and one-bedroom apartments are available at a 25% to 30% discount to market rates for eligible applicants. Now, you can easily live close to where you work, study, and play, without compromising on design, comfort, or your lifestyle. 

Available rental properties

Studio and 1-Bedroom Apartments

Choose from bright, open plan studios or spacious one-bedroom layouts — thoughtfully designed to maximise comfort and filled with premium finishes and natural light. Perfect for singles, individuals, or couples seeking a convenient and affordable city base with the flexibility and stability of long-term rental living.

508/132 Kavanagh Street
Southbank
VIC
3006

Southbank Apartment, Melbourne

$536 / week

Available from 30 March 2026
Live close to where your career is taking you – without compromising on design, comfort or lifestyle. This one-bedroom apartment is available at a 25-30% discount to market rate for eligible applicants.

$536 per week

Take the first step
To check is you are eligible for a rental discount enquire today. Our team is here to guide you through the process. Enquire now.

Apartment features:
Bright, open living spaces with floor-to-ceiling windows.
Modern kitchens with induction cooktops and full-sized ovens.
Ducted air conditioning throughout.
Private balconies in many apartments.
Kitchen comes equipped with full-sized oven and cooktop.
White goods included (fridge, dishwasher, washing machine, and clothes dryer).

Community Perks:
Private kitchen and several private dining and entertainment rooms*.
Outdoor landscaped gardens with barbecues and rooftop terraces*.
Heated outdoor pool, sauna and games room.
Fully equipped gym and co-working spaces.
Pet-friendly apartments

*Disclaimer:
Weekly rental rates and eligibility criteria are subject to change based on Affordability Scheme legislation and household composition. Pets are subject to approval. Exclusive use of dining and entertainment rooms is subject to availability and approval. Additional terms and conditions, and fees and charges may apply.

View Listing

507/132 Kavanagh Street
Southbank
VIC
3006

Southbank Apartment, Melbourne

$536 / week

Available from 30 March 2026
This one bedroom apartment is available at a discount to market rates for eligible applicants making it easier to live where your career is taking you – without compromising on design, comfort or lifestyle.

$536 per week

Southbank apartments applies the following eligibility criteria:
– You (or the primary applicant) are at least 18 years old.
– All household members are Australian citizens or hold appropriate residency status.
– You do not own residential or commercial property.
– All adults in the household have a stable rental history.
- The required two (2) Income Thresholds listed below are met.

1. Maximum Household Taxable Income
We need to assess your Maximum Household Taxable Income in accordance with the Income Tax Assessment (Build to Rent Developments) Determination 2024. Your household taxable income is based on the most recent Notice of Assessment(s) from the Australian Taxation Office. In order to meet this criteria, your taxable income for the household mix cannot be higher than that outlined below.

Household composition:
– One (1) adult = AUD $127,988 p.a.
– Two (2) adults = AUD $138,654 p.a.
– One (1) or two (2) adults + child(ren) = AUD $149,320 p.a.

2. Household Income Limit
We also need to assess your Household Income, which is a little different to your Household Taxable Income. Household Income Limit is calculated by annualising your last three pay slips to estimate your gross annual income, in addition to adding any other funds you may have received throughout the year (for example, child support payments, Centrelink assistance or dividend payments).

Household composition:
– One (1) adult = AUD $74,080 p.a.
– Two (2) adults = AUD $111,110 p.a.
– One (1) or two (2) adults + child(ren) = AUD $155,550 p.a.

Take the first step
To check if you are eligible for a rental discount enquire today. Our team is here to guide you through the process. Enquire now.

Apartment features:
Bright, open living spaces with floor-to-ceiling windows.
Modern kitchens with an induction cooktop and a full-sized oven.
Ducted air conditioning throughout.
Private balconies in many apartments.
White goods are included (fridge, dishwasher, washing machine and clothes dryer).

Community perks*:
Private kitchen and private dining and entertainment rooms.
Outdoor terrace with landscaped gardens and barbecues.
Heated outdoor pool, sauna and games room.
Fully-equipped gym and co-working spaces.
Pet-friendly apartments

*Disclaimer:
Weekly rental rates and eligibility criteria are subject to change based on Affordability Scheme legislation and household composition. Pets are subject to approval. Exclusive use of dining and entertainment rooms is subject to availability and approval, additional terms and conditions, and fees and charges may apply. Bike storage is available on a limited, first-in basis. EV charging is available on a limited, first-in basis, additional terms and conditions and fees may apply. Car park spaces are subject to availability, additional terms and conditions and fees apply.

View Listing

3001/132 Kavanagh Street
Southbank
VIC
3006

Southbank Apartment, Melbourne

$498 / week

Available from 30 March 2026
This studio apartment is available at a 25-30% discount to market rates for eligible applicants making it easier to live where your career is taking you — without compromising on design, comfort or lifestyle.

$498 per week

Take the first step
To check if you are eligible for a rental discount enquire today. Our team is here to guide you through the process. Enquire now.

Apartment features:
Bright, open living spaces with floor-to-ceiling windows.
Modern kitchens with induction cooktops and full-sized ovens.
Ducted air conditioning throughout.
Private balconies in many apartments.
Kitchen comes equipped with full-sized oven and cooktop.
White goods included (fridge, dishwasher, washing machine, and clothes dryer).

Community perks*:
Private kitchen and private dining and entertainment rooms.
Outdoor terrace with landscaped gardens and barbecues.
Heated outdoor pool, sauna and games room.
Fully-equipped gym, bike storage and co-working spaces.
Pet-friendly apartments

*Disclaimer:
Weekly rental rates and eligibility criteria are subject to change based on the Affordability Scheme legislation and household composition. Pets are subject to approval. Exclusive use of dining and entertainment rooms is subject to availability and approval, additional terms and conditions, and fees and charges may apply. Bike storage is available on a limited, first-in basis.


View Listing

901/132 Kavanagh Street
Southbank
VIC
3006

Southbank Apartment, Melbourne

$498 / week

Available from 30 March 2026
Live close to where your career is taking you – without compromising on design, comfort or lifestyle. This studio apartment is available at a reduced rate for eligible applicants. Enquire now.

$498 per week

Are you eligible?
– You (or the primary applicant) are at least 18 years old.
– All household members are Australian citizens or hold appropriate residency status.
– You do not own residential or commercial property.
– All adults in the household have a stable rental history.
- The required two (2) Income Thresholds listed below are met.

1. Maximum Household Taxable Income
We need to assess your Maximum Household Taxable Income in accordance with the Income Tax Assessment (Build to Rent Developments) Determination 2024. Your household taxable income is based on the most recent Notice of Assessment(s) from the Australian Taxation Office. In order to meet this criteria, your taxable income for the household mix cannot be higher than that outlined below.

Household composition:
– One (1) adult = AUD $127,988 p.a.
– Two (2) adults = AUD $138,654 p.a.
– One (1) or two (2) adults + child(ren) = AUD $149,320 p.a.

2. Household Income Limit
We also need to assess your Household Income, which is a little different to your Household Taxable Income. Household Income Limit is calculated by annualising your last three pay slips to estimate your gross annual income, in addition to adding any other funds you may have received throughout the year (for example, child support payments, Centrelink assistance or dividend payments).

Household composition
– One (1) adult = AUD $74,080 p.a.
– Two (2) adults = AUD $111,110 p.a.
– One (1) or two (2) adults + child(ren) = AUD $155,550 p.a.

Take the first step
To check if you are eligible for a rental discount get in touch with us today.

Apartment features:
Bright, open living spaces with floor-to-ceiling windows.
Modern kitchens with an induction cooktop and a full-sized oven.
Ducted air conditioning throughout.
Private balconies in many apartments.
White goods are included (fridge, dishwasher, washing machine and clothes dryer).

Community perks*:
Private kitchen and private dining and entertainment rooms.
Outdoor terrace with landscaped gardens and barbecues.
Heated outdoor pool, sauna and games room.
Fully-equipped gym, bike storage and co-working spaces.
Pet-friendly apartments

*Disclaimer:
Weekly rental rates and eligibility criteria are subject to change based on Affordability Scheme legislation and household composition. Pets are subject to approval. Exclusive use of dining and entertainment rooms is subject to availability and approval, additional terms and conditions, and fees and charges may apply. Bike storage is available on a limited, first-in basis.

View Listing

Why rent at Southbank

Finding a great place to rent shouldn’t mean sacrificing your budget or your peace of mind. We are committed to creating opportunities for you to access quality housing in a thriving neighbourhood. 

Flexible lease terms

Pet friendly

White goods provided

Community Manager curating resident events

Dedicated residents app

Inside your apartment

  • Bright, open living space featuring floor-to-ceiling windows. 
  • Modern kitchen equipped with induction cooktops and full-sized ovens. 
  • Ducted air conditioning to keep you comfortable year-round. 
  • Private balcony in many of our apartments. 
  • Included white goods so you can move right in (fridge, dishwasher, washing machine, and clothes dryer). 

Community perks

  • Heated outdoor pool, relaxing sauna, and dedicated games room. 
  • Fully-equipped gym and multiple co-working spaces. 
  • Private kitchens, dining rooms, and entertainment areas for hosting friends. 
  • Outdoor landscaped gardens featuring barbecues and rooftop terraces. 
  • Pet-friendly apartments.

Frequently Asked Questions

Am I eligible for a discounted apartment?

To qualify for our affordable housing program, you must meet a few simple criteria: 

  • You (or the primary applicant) must be at least 18 years old. 
  • All household members must be Australian citizens or hold appropriate residency status. 
  • You must not own residential or commercial property. 
  • All adults in the household must have a stable rental history. 
  • Your household must meet specific maximum taxable income and household gross income thresholds (limits vary based on whether you are a single adult, a couple, or have children). 

Yes! We know pets are family. Our community features pet-friendly apartments and communal areas. Keep in mind that all pets are subject to approval. 

Bike storage is available on a limited, first-in basis. Car park spaces and EV charging stations are subject to availability, and additional fees and terms apply. 

Taking the first step is easy. Simply make an initial enquiry by clicking ******. You will then be provided with an application form. You will need to upload supporting documents including those which will confirm both your household taxable income and household gross incomeOnce submitted, our team will review your information and guide you through the next steps of your rental journey. 

Take the first step

To check if you are eligible for a rental discount get in touch with us today.