Stonnington’s precincts and businesses continue to demonstrate resilience.
Despite a challenging environment for both businesses and consumers that included interest rate rises and continued inflation pressures, new data shows consumer spending across Stonnington grew 8.1 per cent on the previous year, to $3.78 billion in 2025/26.
Council’s update on the progress on the delivery of the Place-led Economic Development (PLED) Strategy 2023-27 and new Economic Activity Snapshots provide insights into the performance of Stonnington’s shopping precincts.
Our precincts
The snapshots highlight the unique role each precinct plays in Stonnington’s economy.
- Malvern East, including Chadstone, remained the municipality’s largest spending destination, recording $1.8 billion, up 13 per cent on the previous year and accounting for almost half of all spending across Stonnington.
- South Yarra recorded $475 million in spending, increasing 11 per cent year-on-year and continuing to be a key dining and hospitality destination.
- Glenferrie Road, Malvern generated $459 million in spending, up 4.3 per cent on the previous year, supported by a diverse mix of food, retail and hospitality businesses.
- Prahran recorded $427 million in spending, up 4.9 per cent on the previous year, with strong daytime trade alongside a vibrant hospitality sector and night-time economy.
- High Street Armadale retained the municipality’s lowest vacancy rate at just 4 per cent, reflecting the ongoing appeal of the precinct as a premier fashion and lifestyle destination.
The data also highlights the important contribution of our smaller neighbourhood precincts, which collectively generated $212 million in spending and continue to provide local shopping, dining and services close to home for many people.
Night-time spending accounted for 22 per cent of total spending, reinforcing the importance of Stonnington’s evening economy. Chapel Street is at the heart of this, with Windsor our only precinct where more is spent at night than during the day.
More detailed information in our Economic Activity Snapshots includes:
- How busy our major precincts are at different times of the day and week, based on pedestrian traffic.
- Where visitors from outside Stonnington are coming from.
- What people are spending their money on in each precinct, day and night.
Supporting our precincts
Throughout 2025/26, Council delivered a range of initiatives to strengthen our precincts, improve visitor experiences and support economic activity:
- Delivering night-time economy initiatives such as Good Night Out venue training and Fashion After Dark in High Street, Armadale.
- Activating public spaces through programs and events including the award winning Iwagumi Air Scape and the Ephemeral Collection at Prahran Square.
- Completing the biennial Business Health Survey, which received a record 864 responses from local businesses, up 41 per cent on 2023 and is helping shape how we support businesses
- Endorsing and advancing the Chapel Street Precinct Improvement Plan through its first year of implementation.
- Providing training, mentoring and networking opportunities for businesses.
- Supporting local traders through the Business Façade Improvement Grant Program, Business Concierge service and the new Stonnington Business Handbook.
- Delivering precinct activations, including Christmas decorations, activations and Santa visits, as well as the installation of a Menorah at our Malvern Town Hall.
Looking ahead
Council will continue investing in initiatives that strengthen local precincts, support businesses and drive visitation.
Planned priorities in 2026/27 include: delivery of the Business Precinct Activation Grants to activate our smaller neighbourhood precincts; programmed lighting around Prahran Town Hall to support activation of Chapel Street; work to improve night-time safety in precincts, and partnerships to support the hospitality and events economy.
View the PLED 2025/26 Activity Statement and Economic Snapshots: https://www.stonnington.vic.gov.au/Business/Place-led-Economic-Development-Strategy
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