Suburb Profile Report for Port Melbourne VIC (3207)

Port Melbourne House: Median price $1,414,250, Annual capital growth 7.77%, Number of sales 155, Weekly median advertised rent $660

Port Melbourne Unit: Median price $675,000, Annual capital growth 4.69%, Number of sales 319, Weekly median advertised rent $550

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in Port Melbourne have tracked close to the VIC average of 9.78% over the last 12 months.

Over the longer term, Port Melbourne has seen property prices show investors a 45.80% return over the last 3 years. This is worse than over the last 12 months

Vendor discounting in Port Melbourne is giving property investors an average Vendor Discount of around -2.88%. This puts suburb at number 569th in VIC when ranking the most discounted suburbs.

At number 609 in a list of fastest selling suburbs, Port Melbourne is in the TOP 20% of suburbs in Australia with an average of days on market 49.77 for properties listed there.

Situated 4.43km from the CBD, Port Melbourne is one of Port Phillip localities in the postcode 3207.

Giving property investors a a poor capital gain of -6.90% for the last year, Port Melbourne, 3207 is the 1480th highest performer in Australia in this respect.

If we look at median property appreciation over just the last three months, Port Melbourne has given property investors a paper return of -3.64%. This puts Suburb as 322 on a list of fastest fasting appreciating suburbs in VIC

LACK OF BUYER INTEREST may well be the reason that Port Melbourne is offering property investors an average of -4.95. This rate of discount on properties puts Suburb at number 109th in terms of most discounted suburbs in VIC

Often selling an investment property can take time, and in Port Melbourne the average time real estate has been on the market is 75.57 days.

Renters in Suburb are facing rents around $6600 per annum or $550 every week.

Metrics i HOUSE UNIT
$1,414,250 $675,000
2.15% -3.64%
8.37% -6.90%
7.77% 4.69%
$660 $550
155 319
2.43% 4.24%
49.77 75.57

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
Find a mortgage broker in Port Melbourne VIC
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
Chart Table
Recent sales & rentals