Suburb Profile Report for Albert Park VIC (3206)

Albert Park House: Median price $1,675,000, Annual capital growth 9.24%, Number of sales 99, Weekly median advertised rent $750

Albert Park Unit: Median price $681,250, Annual capital growth 7.85%, Number of sales 16, Weekly median advertised rent $420

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

If you compare the increase in value of investment property in Albert Park, 3206 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 5.85%.

Albert Park,3206 was ranked 2849 in Australia by increase in median property value over the quarter.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.04% offered to property buyers. Sellers in Albert Park itself are offering an average vendor discount of -3.33% to real estate investors.

Property investors should expect to get $750 weekly from the median priced house in this suburb.

Albert Park is in the bottom 10% in VIC when comparing median price capital growth over the last year. Albert Park gave property investors a dismal capital gain figure when compared to the rest of the state, with -8.31%.

Taking the average capital gain, or increase in median house value, Albert Park,3206 has racked up an average of -8.31% over the period. This ranks it number 1118th in the whole country for real estate investors looking at median house price increases.

Tonia Walsh Information supplied by:

Tonia Walsh
Cayzer Real Estate

M +61 3 9699 5999
O +61 406 788 877

W www.cayzer.com.au
E toniaw@cayzer.com.au
Albert Park is full of history. It offers a much sought after peaceful lifestyle and proximity to the CBD, location on Port Phillip Bay with access to parklands, lake and village with cafes & culture. Desired historical homes on tree-lined streets make Albert Park unique.

Melbourne suburb Albert Park lies just 3km south of the Melbourne CBD in the Bayside area. Currently most famous for being the home of the Australian Grand Prix, it’s one of Melbourne’s more prestigious suburbs, and is home to the St Vincent Gardens address. Properties are a mix of Victorian and Edwardian terraced, semi-detached and freestanding housing, with less than half having been converted into apartments.Full summary
Melbourne suburb Albert Park lies just 3km south of the Melbourne CBD in the Inner Bayside City of Port Phillip. Currently most famous for being the home of the Australian Grand Prix, it’s one of Melbourne’s more prestigious suburbs, and is home to the St Vincent Gardens address. Properties are a mix of Victorian and Edwardian terraced, semi-detached and freestanding housing, with a sprinkle of apartments and new homes.
 
Residents are largely wealthy professionals – Australian Property Monitors records residents between the ages of 20 and 39 as making up 38% of the population, and the top five professions as white-collar.
 
Tonia Walsh, sales consultant of Cayzer Real Estate in Albert Park, believes Albert Park will remain a ‘sought after’ area – and not just because of the suburb’s reputation.
 
“Several features attract people to Albert Park – not least including the peaceful lifestyle within close proximity to the CBD” says Tonia. , “With the average age of 40 years (3 years above the median), local school, transport options including ‘by foot’ and the healthy lifestyle, we are attracting growing families through to those slowing down”. 
 
“Beaches and arterials, the suburb features ‘Lake. Park. Beach.’- and the architecture – the period-style homes are tremendous,” she says. “It's impossible to create any more of the period-style homes, an available vacant block a very rare commodity, which makes it an absolutely blue chip, highly sought after area in high demand. Your money would be ‘as safe as houses’ in this suburb.”
 
Selling points: 
Infrastructure transport parks & gardens and tree lined streets, Albert Park is located on a flat plane.
 
Most sought after properties: 
$1.5m- $2.5m - 3 bed, 2 bath properties with 6 principal rooms. Double-fronted period homes create high interest. 
 
Most common properties:  
Edwardian homes and Victorian homes, some of the most stunning properties in Melbourne. 
 
Top amenities: 
Full of cafes and restaurants catering for the locals and visitors, Albert Park is home to the famous Andrews Hamburgers, cafes such as Habsburg Empire, Albert Park Deli and Faucett; restaurants include the Mizusu’s and Ricardo’s, the new funky D.O.C brings a different edge to local cuisine. Albert Park Hotel is the watering hole and The Vincent offers a more family oriented vibrancy. Along the esplanade, the Sandbar and Albert Park Sailing Club are at hand from breakfast to sunset.
 
Local industry and business:
A suburb of mostly small, local small businesses, cafes, restaurants and local amenities
 
Recent changes: 
Port Phillip is creating a new suburb with school and amenities called “Montague”. Beautification of streets;’ a light rail has replaced the 2nd oldest train line in Victoria (1857. The first train line was to Port Melbourne, the second to St Kilda)
 
Best streets: 
St Vincent Place, Kerferd Road, Page St, Hambleton St Dinsdale St to name a few.
 
Public transport: 
Tram, light rail, buses & cycling lanes
 
Main arteries: 
Beaconsfield Parade, Kerferd Road Canterbury Road & Ferrars St

 

Close
HOUSE UNIT
$1,675,000 $681,250
-0.89% -19.85%
5.85% -8.31%
9.24% 7.85%
$750 $420
99 16
2.33% 3.21%
55.45 N/A

Source: CoreLogic

DSR Score for property investment : Above average (H), Good (U)
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Demographics
Total population 5954
Median household income ($/weekly) 1981
Median age of persons 40
Median housing loan repayment ($/monthly) 3000
Average household size 2.2
  • Census Count Percent(%)
    25-34 years 963 16.2
    35-44 years 1133 19.0
    45-54 years 818 13.7
    55-64 years 722 12.1
    65-74 years 535 9.0
    Others 1784 30.0
    Age Group
    Census Count Percent(%)
    Registered Married 1943 43.5
    Not Married 1870 41.9
    Defacto Relationship 653 14.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 4098 73.5
    Hong Kong 266 4.8
    Papua New Guinea 158 2.8
    United Kingdom 348 6.2
    Other 205 3.7
    Others 498 8.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 53 1.0
    Christianity 3266 61.1
    Hinduism 77 1.4
    Judaism 63 1.2
    No Religion 1839 34.4
    Others 46 0.9
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 148 6.5
    $1,500-$1,999 236 10.4
    $2,500-$2,999 401 17.6
    $3,000-$3,499 180 7.9
    $4,000 or more 317 13.9
    Others 997 43.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2198 46.4
    Not in the labour force 1467 31.0
    Employed, worked part-time 777 16.4
    Employed, away from work 172 3.6
    Unemployed, looking for work 124 2.6
    Person Characteristics
  • Census Count Percent(%)
    Managers 773 24.5
    Professionals 1298 41.2
    Community & personal service workers 197 6.3
    Clerical & administrative workers 334 10.6
    Sales 207 6.6
    Others 340 10.8
    Occupation
    Census Count Percent(%)
    Pre-school 104 9.9
    Infants/Primary 347 33.1
    Secondary 191 18.2
    Technical or Further Educational Institution 68 6.5
    University or other Tertiary Institutions 297 28.4
    Others 40 3.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Semi-detached, row or terrace house, townhouse 3104 57.2
    Separate house 1506 27.8
    Flat, unit or apartment 785 14.5
    House or flat attached to a shop, office 32 0.6
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1019 41.3
    Fully owned 849 34.4
    Being purchased 579 23.5
    Other tenure type 18 0.7
    Tenure Type
Census 2011, ABS
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