Suburb Profile Report for Port Melbourne VIC (3207)

Port Melbourne House: Median price $1,492,000, Annual capital growth 6.54%, Number of sales 151, Weekly median advertised rent $725

Port Melbourne Unit: Median price $745,000, Annual capital growth 3.48%, Number of sales 339, Weekly median advertised rent $590

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

Property investors who have had real estate in Port Melbourne, 3207 should be relatively unhappy 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 0.05%

Taking the average capital gain, or increase in median house value, Port Melbourne,3207 has racked up an average of 0.05% over the period. This ranks it number 1315th in the whole country for real estate investors looking at median house price increases.

At number 19th of VIC’s most discounted properties, Port Melbourne is in the bottom 10% of the state/territory when listing in order of most discounted to least.

Using the current median advertised rental of $725 and the average annual increase in value of a median property of 6.54%, investors should hope to achieve an overall return of 2.53%

Port Melbourne is in the bottom 40% in VIC when comparing median price capital growth over the last year. Port Melbourne gave property investors a disappointing capital gain figure when compared to the rest of the state, with 1.36%.

Port Melbourne,3207 has offered an average of 1.36% return per annum in house price rises to property investors over the last three years.

Port Melbourne, 3207 is offering VIC ‘s 163th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this VIC.

A $590 per week rent on the median house gives suburb investors a gross yield of circa 4.12%, without taking into account capital value appreciation, which has been averaging out at 3.48%.

Metrics i HOUSE UNIT
$1,492,000 $745,000
1.50% 3.11%
0.05% 1.36%
6.54% 3.48%
$725 $590
151 339
2.53% 4.12%
60.51 57.35

Source: CoreLogic

DSR Score for property investment : Good (H), Very good (U)
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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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