Fraud Blocker

Albion, VIC 3020

Home » VIC Real Estate Data » Brimbank City, VIC » Albion, VIC 3020

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Albion, VIC 3020 located in Melbourne to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

Lower Risk RCS™

Sign up to see the score

Capital Growth RCS™

Sign up to see the score

Cashflow RCS™

Sign up to see the score

FREE Investment Property Checklist

Secure your golden ticket to property investment success! Get our meticulously crafted Property Investment Checklist upon subscribing to our newsletter. It’s jam-packed with valuable insights from prime locations to specific building nuances.

Essentials
No Price Data
Loading…

Upgrade to Personal Plan to see forecasts on the graph above.

No Rent Data
Loading…

Upgrade to Personal Plan to see forecasts on the graph above.

Upgrade to Personal Plan to see Yield data.
Yield chart
Upgrade to Professional Plan to see Growth Rate Cycle data.
GRC chart
Fundamentals
Upgrade to Personal Plan to see IRSAD data.
IRSAD chart
Upgrade to Personal Plan to see U|H and R|O data.
Renters to owners pie chart
Upgrade to Personal Plan to see U|H and R|O data.
unit to houses pie charts
Upgrade to Personal Plan to see Demand Profile data.
Demand chart
Upgrade to Professional Plan to see Affordability Index data.
Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

Upgrade to Professional Plan to see Stock On Market trend.
SOM chart
Upgrade to Professional Plan to see Inventory trend.
Inventory chart
Upgrade to Professional Plan to see Building Approvals trend.
Inventory chart
Upgrade to Professional Plan to see Hold Period trend.
Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

Upgrade to Professional Plan to see Days On Market trend.
DOM chart
Upgrade to Professional Plan to see Vacancy Rate trend.
Inventory chart
Upgrade to Professional Plan to see Search Index trend.
Index chart
Upgrade to Professional Plan to see Clearance Rate trend.
Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

Have a question? You can either leave a comment below or post it on our forum.

0 thoughts on “Albion, VIC 3020”

  1. The total adult population (15 years or older) of Albion 3020 VIC is 3,716, with a median age of 35. Of those, 37.81% are married, 14.26% are divorced or separated, 42.84% are single and 4.84% are widowed.

    The average household size is 2.3 people per dwelling, and the median household monthly income is estimated to be $6,924. The median monthly mortgage repayment for households in this suburb is $1,700 which is 24.55% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of ALBION 3020, nestled in the state of Victoria (VIC), is home to approximately 2516 households. As we venture into Q3 of 2023, the typical house price in ALBION 3020 stands at a modest $802,128. The houses, on average, are rented out at $367 per week, translating to an indicative yield of around 2.38% – a figure slightly below typical market requirements for cashflow-centered property investors.

    When it comes to the IRSAD score, this suburb holds 937 points out of a possible 1217, suggesting a moderate socio-economic fabric. The renter to owner ratio in the area however, sits at a rather high 44%, which intimates a dominant renter presence and might be flagged as a questionable investment due to the potential for high competition amongst property investors.

    The unit to house ratio is, however, well balanced. With only 47% of the properties available in ALBION being units, there is a healthy constitution of family-friendly houses in the mix. Yet, this number is nearing the higher end of the favourable range.

    The years to own or affordability index has been calculated at 45 years for this locale, which may pose a serious concern for those considering the property market, indicating that it indeed takes a while for homeowners to fully own their properties in this area.

    With a stock on market Percentage of 0.89% for houses, the region falls in the neutral section on the supply meter. The inventory level at 3.65 months suggests a somewhat balanced market, although towards the higher part of the range.

    The suburb has seen a Building Approval Ratio of 0.63% for its houses – a seemingly optimal and favourable condition. Buyers seem motivated too, with the days on market for houses averaging at just 28 days. The low vacancy rate (0.99%), combining houses and units, further suggests a high demand among renters, indicating an established desirability of the region. However, the Buy Search Index, charted at 3 for houses may indicate that the demand, while present, isn’t overly robust.

    In conclusion, while ALBION 3020 presents a mix of indicators, it’s crucial for potential investors to take these stats into account along with trend shifts. Despite certain metrics being not so favourable, the overall market could still present opportunities given majority of the metrics show a promising trend. It’s also imperative to consider the HtAG Analytics’ Relative Composite Score (RCS) for a more comprehensive research, that takes into consideration numerous other metrics.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

Leave a comment