The choice of the CBD and Fitzroy suggests that gentrification doesn't seem to have affected the north/south divide. North of the Yarra is hip and culturally rich, whereas south of the Yarra is merely trendy, a shallow, consumeristic imposter for actual cool; St. Kilda (once the crucible of punk—blah blah blah Nick Cave blah blah Seaview Ballroom— but now, as The Lucksmiths so appositely worded it, home of bright-eyed boys in business suits, tourists where once were prostitutes) and Prahran (which committed the cardinal sin of getting house music and T-shirt boutiques a decade before Fitzroy) don't rate a mention in the psychogeography of cool in Melbourne. And while Fitzroy real estate prices approach South Yarra levels, there is still enough of a cultural legacy (not to mention tram routes from more affordable areas) to maintain the area's claim to cultural vitality.
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