Suburb Profile Report for Albion VIC (3020)

Albion House: Median price $576,000, Annual capital growth 10.20%, Number of sales 38, Weekly median advertised rent $340

Albion Unit: Median price $240,000, Annual capital growth 6.02%, Number of sales 36, Weekly median advertised rent $240

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report

VIC has seen average median house prices change by 7.68% which means that Albion, 3020 has done well for property investors by showing a capital gain of 25.22% over the last year

Comparing Albion,3020 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Albion, 3020. Typically our figures indicate that -6.10% is being offered, which puts this VIC suburb at 1790th most discounted overall in Australia.

With the median price for a house in Albion being $576000 and the advertised rent reaching $340 the gross rental yield for property investors calculates out to be 3.07%

Property value increases in Albion have tracked just higher than the VIC average of 3.19% over the last 12 months.

Across a shorter period, Albion, 3020 has seen a median price increase of -5.97% over the last quarter.

Vendor discounting in Albion is giving property investors an average Vendor Discount of around -4.25%. This puts suburb at number 212th in VIC when ranking the most discounted suburbs.

Renters in Suburb are facing rents around $2880 per annum or $240 every week.

HOUSE UNIT
$576,000 $240,000
8.68% -5.97%
25.22% 6.19%
10.20% 6.02%
$340 $240
38 36
3.07% 5.20%
103.38 62.29

Source: CoreLogic

DSR Score for property investment : Balanced (H), Good (U)
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Demographics
Total population 4336
Median household income ($/weekly) 851
Median age of persons 32
Median housing loan repayment ($/monthly) 1517
Average household size 2.4
  • Census Count Percent(%)
    20-24 years 412 9.5
    25-34 years 1074 24.8
    35-44 years 572 13.2
    45-54 years 474 10.9
    55-64 years 412 9.5
    Others 1392 32.1
    Age Group
    Census Count Percent(%)
    Not Married 1801 53.4
    Registered Married 1383 41.0
    Defacto Relationship 190 5.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 1801 45.3
    Croatia 106 2.7
    Indonesia 580 14.6
    Viet Nam 225 5.7
    Other 540 13.6
    Others 725 18.2
    Country of Birth
    Census Count Percent(%)
    Christianity 2070 53.6
    Hinduism 360 9.3
    Islam 262 6.8
    Other Religious Groups 284 7.4
    No Religion 635 16.4
    Others 250 6.5
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 156 10.4
    $400-$599 210 14.0
    $600-$799 180 12.0
    $1,000-$1,249 164 10.9
    $1,500-$1,999 160 10.7
    Others 629 42.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1287 38.3
    Employed, worked full-time 1114 33.2
    Employed, worked part-time 624 18.6
    Unemployed, looking for work 218 6.5
    Employed, away from work 116 3.5
    Person Characteristics
  • Census Count Percent(%)
    Professionals 235 12.7
    Technicians & trades workers 265 14.3
    Clerical & administrative workers 266 14.3
    Machinery operators & drivers 236 12.7
    Labourers 315 17.0
    Others 537 29.0
    Occupation
    Census Count Percent(%)
    Infants/Primary 226 23.4
    Secondary 181 18.7
    Technical or Further Educational Institution 148 15.3
    University or other Tertiary Institutions 242 25.0
    Other type of educational institution 122 12.6
    Others 48 5.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2448 60.5
    Flat, unit or apartment 1257 31.1
    Semi-detached, row or terrace house, townhouse 340 8.4
    House or flat attached to a shop, office 3 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 761 47.1
    Fully owned 463 28.7
    Being purchased 377 23.3
    Other tenure type 15 0.9
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals