Address: Hosier Lane, Melbourne CBD
This is the most central, and probably the most visited location in the city for street art. The art is constantly changing and you can find some great stuff there. You may even get to see some artists in the act. Take a look around to get a taste of the scene or use use Hosier as a starting point as a more thorough look around.
Exploring Melbourne's laneways is a lot of fun. You never know what you'll find! Some gems to check out are Union Lane, Caledonian Lane, Degraves St, Flinders Lane and Centre Place.
The best advice for Fitzroy is all of it. Wander, enjoy. Perhaps start at the corner of Brunswick and Johnston Streets (there is a tram stop here). Every wall and laneway seems to have something to offer around these parts.
The Footscray Community Arts Centre is a great place to start with a lot of art around the centre and down under the rail bridge. There is a fantastic full wall mural on the Asylum Resource Centre on Nicholson st and just down the road a brilliant Bunjil Mural. A westside favourite Baby Guerrilla, who does beautiful paste ups of people falling and floating will pop up all over the area.
The street art along Victoria and Gamon Streets may be mainly commissioned but there are some great murals to check out. The work of the Vet's Offices is particularly impressive.
Commissioned Urban Art
If wandering laneways isn't for you but you still want to check out what these artists can do you can see some great commissioned murals by Be Free in Southgate Shopping centre (Southbank, right across the river from Flinders Street Station), Kaffine, LucyLucy and several others have work in Melbourne Central Shopping Centre and ROA has done some spectacular animal paintings at Healsville Sanctuary.