Suburb Profile Report for Albion VIC (3020)

Albion House: Median price $675,000, Annual capital growth 7.77%, Number of sales 36, Weekly median advertised rent $380

Albion Unit: Median price $400,500, Annual capital growth 8.90%, Number of sales 38, Weekly median advertised rent $280

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

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

Investment property in Albion has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -8.23%

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Albion has increased when compared to the 5 year average annual rate.

Vendor discounting in Albion is giving property investors an average Vendor Discount of around -7.11%. This puts suburb at number 240th in VIC when ranking the most discounted suburbs.

Advertised rents are around the $380 mark per week – giving a return of 2.93% based on the median price in Suburb

Property investors who have had real estate in Albion, 3020 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 31.10%

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Albion has increased when compared to the 5 year average annual rate.

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 -6.79% is being offered, which puts this VIC suburb at 451th most discounted overall in Australia.

With the median price for a house in Albion being $400500 and the advertised rent reaching $280 the gross rental yield for property investors calculates out to be 3.64%

Metrics i HOUSE UNIT
$675,000 $400,500
0.00% 0.12%
-8.23% 31.10%
7.77% 8.90%
$380 $280
36 38
2.93% 3.64%
78.5454545454546 78.8157894736842

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Above average (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
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