Suburb Profile Report for Port Melbourne VIC (3207)

Port Melbourne House: Median price $1,333,500, Annual capital growth 8.54%, Number of sales 149, Weekly median advertised rent $650

Port Melbourne Unit: Median price $710,000, Annual capital growth 4.43%, Number of sales 315, Weekly median advertised rent $540

  • 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 7.80% which means that Port Melbourne, 3207 has done well for property investors by showing a capital gain of 13.01% over the last year

If we look at median property appreciation over just the last three months, Port Melbourne has given property investors a paper return of 2.18%. This puts Suburb as 244 on a list of fastest fasting appreciating suburbs in VIC

Property investors looking for a bargain in Port Melbourne should be aiming for at least -4.04% off the asking price, which is the average vendor discount being achieved at the moment.

In the last year 149 properties changed hands in Port Melbourne, which puts it as the 166th most active market in VIC when comparing the number of sales per suburb.

Situated 3.43km from the CBD, Port Melbourne is one of Port Phillip localities in the postcode 3207.

Port Melbourne, 3207 ranked 233th in VIC when comparing growth in median property values or capital gain over the last 12 months. Port Melbourne is one of 2098 in our list for VIC

Comparing Port Melbourne,3207 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Sellers are offering property buyers an average discount of -4.38% to buyers in Port Melbourne at the moment, which is less than average for the rest of VIC.

A $540 per week rent on the median house gives suburb investors a gross yield of circa 3.95%, without taking into account capital value appreciation, which has been averaging out at 4.43%.

HOUSE UNIT
$1,333,500 $710,000
2.18% 0.00%
13.01% 1.43%
8.54% 4.43%
$650 $540
149 315
2.53% 3.95%
67.26 70.81

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
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Demographics
Total population 14521
Median household income ($/weekly) 1995
Median age of persons 38
Median housing loan repayment ($/monthly) 2535
Average household size 2
  • Census Count Percent(%)
    25-34 years 3184 21.9
    35-44 years 3056 21.0
    45-54 years 1930 13.3
    55-64 years 1751 12.1
    65-74 years 1113 7.7
    Others 3487 24.0
    Age Group
    Census Count Percent(%)
    Not Married 4960 44.3
    Registered Married 4436 39.6
    Defacto Relationship 1795 16.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 9391 69.9
    Hong Kong 379 2.8
    Papua New Guinea 406 3.0
    United Kingdom 940 7.0
    Other 717 5.3
    Others 1601 11.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 260 2.0
    Christianity 8028 62.1
    Islam 263 2.0
    Judaism 131 1.0
    No Religion 4140 32.0
    Others 105 0.8
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 641 10.8
    $2,000-$2,499 372 6.3
    $2,500-$2,999 1108 18.7
    $3,000-$3,499 499 8.4
    $4,000 or more 675 11.4
    Others 2622 44.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 6207 52.8
    Not in the labour force 3092 26.3
    Employed, worked part-time 1693 14.4
    Employed, away from work 448 3.8
    Unemployed, looking for work 325 2.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 1967 23.6
    Professionals 3045 36.5
    Technicians & trades workers 527 6.3
    Clerical & administrative workers 1080 12.9
    Sales 680 8.1
    Others 1048 12.6
    Occupation
    Census Count Percent(%)
    Pre-school 203 9.3
    Infants/Primary 631 28.9
    Secondary 402 18.4
    Technical or Further Educational Institution 176 8.1
    University or other Tertiary Institutions 635 29.1
    Others 136 6.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Semi-detached, row or terrace house, townhouse 6120 46.4
    Flat, unit or apartment 5370 40.8
    Separate house 1644 12.5
    House or flat attached to a shop, office 39 0.3
    Caravan, cabin, houseboat 3 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 3040 47.5
    Being purchased 1771 27.7
    Fully owned 1559 24.4
    Other tenure type 25 0.4
    Tenure Type
Census 2011, ABS
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