Suburb Profile Report for Middle Park VIC (3206)

Middle Park House: Median price $2,002,500, Annual capital growth 11.46%, Number of sales 52, Weekly median advertised rent $750

Middle Park Unit: Median price $706,000, Annual capital growth 3.74%, Number of sales 25, Weekly median advertised rent $430

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Over the last year, property investments in Middle Park, 3206 have given investors a capital gain of -13.80%. This compares very badly with the 8.13% for VIC as a whole.

Comparing Middle Park,3206 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

In the last year 52 properties changed hands in Middle Park, which puts it as the 415th most active market in VIC when comparing the number of sales per suburb.

Situated 4.11km from the CBD, Middle Park is one of Port Phillip localities in the postcode 3206.

Middle Park is an average performer in VIC when comparing median price capital growth over the last year. Middle Park gave property investors a average capital gain figure when compared to the rest of the state, with 3.07%.

While Middle Park,3206 ranked number 341th in VIC for increase in median house value (annualised) increase, it is ranked 126th over the last 5 years.

Situated 4.35km from the CBD, Middle Park is one of Port Phillip localities in the postcode 3206.

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
Middle Park is an historical village. The Middle Park Historical Society reminds us of the amazing place in which we work. The Middle Park Village is a village in the true sense. 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 Middle Park and surrounds unique. Full summary

Middle Park is the second south Melbourne suburb in our list of top performers: indeed, it’s right next door to top performer Albert Park. It’s a similarly prestigious location, close to the bay – and this, says Dannie Corr, director of Professionals Whiting & Co in St Kilda, is a key factor in ensuring the suburb’s ongoing success.

“The Bayside area is relatively unique in Melbourne,” says Corr, “Unlike Sydney there’s not a lot of waterfront that's close to the city. That means it’s a very popular area – people will flock here on weekends – and very desirable in terms of buyers.”

Middle Park contains some of the best-preserved Victorian architecture in Melbourne and is part of a strict heritage conservation area. There are development restrictions in the area, and new developments are generally sympathetic to the prevailing style, driving up prices.

Like many other premium locations, the suburb has been hit by the volatile nature of the property market over the last few years. Even so, Corr maintains that the combination of period buildings, bayside living and easy access to the city means that Middle Park will continue to be a high performer, says Corr.

“People to aspire to live in these suburbs,” says Corr. “They’re prestige suburbs through and through. People don't sell out unless they've got a good reason, and people always want to buy in.”

Selling points: 

Infrastructure, transport parks & gardens and tree lined streets, Middle 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 are to be found in this pocket of tree-lined avenues.
 
Top amenities: 
Known for its cafes and restaurants catering for the community and visitors. Home to the famous Middle Park Hotel, with sport viewable from every angle, the Victorian Wine Centre, Armstrong Street Deli with amazing baristas with gourmet delights galore at Gumtree.
 
Local industry and business:
A suburb of mostly small, local small businesses, cafes, restaurants, small boutiques 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, stopping at Armstrong Street)
 
Best streets: 
Richardson Street, Armstrong Street, Nimmo Street, Beaconsfield Parade, Erskine Street & Langridge Street to name a few
 
Public transport: 
Light rail, buses and cycling lanes
 
Main arteries: 
Beaconsfield Parade, Canterbury Road
Close
HOUSE UNIT
$2,002,500 $706,000
-1.11% -6.12%
-13.80% 3.07%
11.46% 3.74%
$750 $430
52 25
1.95% 3.17%
N/A N/A

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
Find a mortgage broker in Middle Park VIC
Demographics
Total population 4058
Median household income ($/weekly) 2227
Median age of persons 40
Median housing loan repayment ($/monthly) 3033
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 399 9.8
    25-34 years 661 16.3
    35-44 years 730 18.0
    45-54 years 589 14.5
    55-64 years 479 11.8
    Others 1199 29.6
    Age Group
    Census Count Percent(%)
    Registered Married 1460 47.6
    Not Married 1184 38.6
    Defacto Relationship 423 13.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 2882 74.8
    Hong Kong 130 3.4
    Papua New Guinea 103 2.7
    United Kingdom 246 6.4
    Other 149 3.9
    Others 342 8.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 53 1.5
    Christianity 2252 61.9
    Hinduism 19 0.5
    Judaism 43 1.2
    No Religion 1253 34.4
    Others 18 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 146 9.9
    $2,000-$2,499 108 7.3
    $2,500-$2,999 266 18.0
    $3,000-$3,499 129 8.7
    $4,000 or more 204 13.8
    Others 625 42.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1485 46.3
    Not in the labour force 907 28.3
    Employed, worked part-time 619 19.3
    Employed, away from work 114 3.6
    Unemployed, looking for work 83 2.6
    Person Characteristics
  • Census Count Percent(%)
    Managers 459 20.7
    Professionals 928 41.8
    Community & personal service workers 137 6.2
    Clerical & administrative workers 295 13.3
    Sales 152 6.9
    Others 247 11.1
    Occupation
    Census Count Percent(%)
    Pre-school 104 13.1
    Infants/Primary 291 36.6
    Secondary 140 17.6
    University or other Tertiary Institutions 182 22.9
    Other type of educational institution 43 5.4
    Others 35 4.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1640 43.6
    Semi-detached, row or terrace house, townhouse 1304 34.7
    Flat, unit or apartment 795 21.2
    House or flat attached to a shop, office 19 0.5
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 623 38.2
    Rented 594 36.4
    Being purchased 403 24.7
    Other tenure type 10 0.6
    Tenure Type
Census 2011, ABS
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