Despite enduring political rhetoric that promotes Australia as ‘the lucky country’ and ‘the land of the fair go’, recent decades have seen a noticeable increase in levels of income inequality. This growing economic divide has driven housing prices up and left lower-income families unable to access the housing market in inner-city locations. In contrast to other countries, Australia’s socioeconomic segregation does not overlap with ethnic segregation. Australia’s highly regulated immigration program has resulted in a relatively well-educated and employable foreign-born population who largely reside in middle-income neighbourhoods. These particularities make Australia an interesting context to explore patterns of socioeconomic segregation over time. In this chapter, we will utilise both traditional measures of segregation (such as the dissimilarity index) as well more spatialised measures (such as location quotients and Local Morans I) to assess socioeconomic segregation at the local level. Drawing on four waves of census data (2001, 2006, 2011 and 2016), we explore how socioeconomic segregation has changed over time across nearly 500 neighbourhoods in Melbourne. We further examine the degree to which socioeconomic segregation aligns with ethnic segregation patterns and levels in this city. We find patterns of socioeconomic segregation remain relatively unchanging over time in Melbourne. Additionally, our findings highlight important differences in patterns and levels of socioeconomic and ethnic segregation in the Australian context.