Suburb Profile Report for Port Melbourne VIC (3207)

Port Melbourne House: Median price $1,430,000, Annual capital growth 5.81%, Number of sales 149, Weekly median advertised rent $730

Port Melbourne Unit: Median price $733,500, Annual capital growth 2.27%, Number of sales 252, Weekly median advertised rent $620

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

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

Port Melbourne has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 5.93% to date .

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Port Melbourne 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 Port Melbourne, 3207. Typically our figures indicate that -4.04% is being offered, which puts this VIC suburb at 2690th most discounted overall in Australia.

Residents and property investors in Port Melbourne have been waiting around 67.9825 days to sell a property.

With the median price for a house in Port Melbourne being $1430000 and the advertised rent reaching $730 the gross rental yield for property investors calculates out to be 2.65%

Port Melbourne is an average performer in VIC when comparing median price capital growth over the last year. Port Melbourne gave property investors a good capital gain figure when compared to the rest of the state, with 9.48%.

Port Melbourne,3207 has offered an average of 9.48% return per annum in house price rises to property investors over the last three years.

At number 202th of VIC’s most discounted properties, Port Melbourne is in the TOP 20% of the state/territory when listing in order of most discounted to least.

Often selling an investment property can take time, and in Port Melbourne the average time real estate has been on the market is 67.5304 days.

Metrics i HOUSE UNIT
$1,430,000 $733,500
4.95% 1.17%
5.93% 9.48%
5.81% 2.27%
$730 $620
149 252
2.65% 4.40%
67.9824561403509 67.5304347826087

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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