South Yarra is an inner-city suburb in Melbourne, Victoria, Australia, 4 km south-east of Melbourne's Central Business District, located within the Cities of Melbourne and Stonnington local government areas. South Yarra recorded a population of 25,028 at the 2021 census. The area east of Punt Road is in the City of Stonnington and the area to the west is in the City of Melbourne. South Yarra is also home to some of Melbourne's most prestigious residential addresses. Residential land price records (per square metre) have been set by properties in Domain Road, Walsh Street and Fairlie Court.