Port Phillip City, VIC

The City of Port Phillip is a Victorian local government area located south of Melbourne’s CBD and is home to a diverse and significant collection of shopping, entertainment, and recreational areas.

The real estate market in Port Phillip is very diverse, with a wide range of prices and property types available. There are luxurious waterfront properties, as well as apartments and units in the inner city areas. Housing is also available in the suburbs, with a mix of detached houses, townhouses and apartments.

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Port Phillip contains a variety of important employment sectors, including a section of the St Kilda Road commercial district, as well as industrial, warehouse, and manufacturing districts in South Melbourne and Port Melbourne.

The economy of Port Phillip, Victoria is based largely on service industries and manufacturing. The region is home to a number of large corporations, and the Port of Melbourne is a major center of trade and commerce. Tourism is also a major industry in the area. Professionals account for 37.8 % of jobs in Port Phillip, followed by managers at 19.5 %, clerical and administrative workers at 12.3 %, community and personal service workers at 8.5 %, and sales workers at 7.9 %. In Port Phillip, the typical weekly personal income for persons aged 15 years and older is $1,087.

The Port Phillip property market is a thriving and vibrant market with a wide range of properties available to suit all budgets. The market is constantly evolving with new properties and developments being released regularly. In Port Phillip, 8.8 % of occupied private residences are detached houses, 23.9 % are semi-detached, row or terrace houses, townhouses, or other dwellings, 65.8 % are flats or apartments, and 1.1 % are other dwellings.

The area is popular with both investors and home buyers due to the strong rental and capital growth prospects. The market is well serviced by transport, schools and amenities and is located close to the CBD. This makes it an ideal location for those looking for convenient city living.

Discover the latest real estate price trends in Port Phillip LGA with the help of interactive dashboard on this page.

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Capital Growth Heatmap

Property Market Snapshot

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

Buy 

2BR

3BR

4BR

5BR

Typical Price for houses in this council area. Percent changes indicate Year on Year growth or decline in house values. Council area house prices are calculated by averaging Typical Price of all suburbs within the area. Typical Price is a more accurate metric than Median Price.

Rent 

2BR

3BR

4BR

5BR

Median Weekly Rent for houses in this council area. Percent changes indicate Year on Year growth or decline in rental prices. Calculated via median value formula applied to rental prices from online listings.

Yield 

2BR

3BR

4BR

5BR

Yearly Gross Yield for houses in this council area. Calculated by multiplying the Median Rent by 52 and dividing the resulting value by Typical Price. Percent changes indicate Year on Year growth or decline in Gross Yield for houses.

Buy 

1BR

2BR

3BR

Typical Price for units in this council area. Percent changes indicate Year on Year growth or decline in unit values. Council area house prices are calculated by averaging Typical Price of all suburbs within the area. Typical Price is a more accurate metric than Median Price.

Rent 

1BR

2BR

3BR

Median Weekly Rent for units in this council area. Percent changes indicate Year on Year growth or decline in rental prices. Calculated via median value formula applied to rental prices from online listings.

Yield 

1BR

2BR

3BR

Yearly Gross Yield for units in this council area. Calculated by multiplying the Median Rent by 52 and dividing the resulting value by Typical Price. Percent changes indicate Year on Year growth or decline in Gross Yield for units.

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This chart illustrates historical and projected quarterly typical price and number of sales, which are depicted as blue lines and green bars respectively. Council areas with average sales above 30/quarter and suburbs with sales above 7/quarter commonly produce high confidence forecasts.
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This chart shows historical and projected median rent and number of rentals, depicted as red lines and grey bars respectively. In many markets Rent prices lag the Typical Price by 1-2 years.
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This chart presents the gross rental yield, which is the value you generate from an investment property, represented as a percentage. The higher the percentage the better. Yield that is trending down frequently highlights a high demand market.
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Yield chart
This graph represents the dwelling demand profile for the LGA/suburb, which tends to correlate with the tenant preference for property type and number of bedrooms. Target dwelling type and number of bedrooms with the highest number of sales.
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Demand chart
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The chart below shows the proportion of units to houses in this area. Generally speaking the fewer units there are, the better.
unit to houses pie charts
The pie chart below shows the percentage of renters to owners in an area. Generally speaking the more owners the better.
Renters to owners pie chart
The chart below shows the IRSAD score for the area. IRSAD stands for the Index of Relative Advantage and Disadvantage. The higher the index, the more well off the population is in the area.
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IRSAD chart
This graph shows online search interest for sale and rent listings. The black line(s) represents the search index, which is the ratio of LGA/suburb searches to the state average. Value of 5 signifies that Buy/Rent searches are at state average. Be wary of areas with SI below 3.
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Index chart
This chart plots the annual percent change in typical prices for all suburbs in this LGA. Suburbs that cross the red (zero) line more than 3 times present poor capital growth opportunities.
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GRC chart

Confidence: High, Medium, Low

Supply

Stock on Market

Inventory

Hold Period

The most important metric for understanding the supply of homes in a given market. Stock on Market (SoM) is represented by bars which show the number of listings per month, and by a line which indicates the percentage of listed homes compared to the total number of dwellings in the area (SoM Percentage). A higher stock on market indicates a greater supply of properties.
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SOM chart
Inventory levels indicate the amount of stock available in relation to average monthly sales. Inventory levels above 3 months indicate a sizeable amount of stock available, while lower levels indicate diminishing supply. Decreasing inventory level trend can signal that prices may increase in the future.
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Inventory chart
Average number of years properties are re-sold in the area. The higher the value, the lower is the supply in the property market. Changing trend can act as a lead indicator to price increases / decreases.
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

The Days on Market metric shows how long, on average, it takes for listed properties to be sold. A higher number of days means that there is less demand for properties. Measured in days.
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DOM chart
Monthly vacancies (bar) and Vacancy Rates (line) in the area. Vacancy rates serve as a rental market demand indicator. Lower vacancy rates point to greater demand in the rental market. Decreasing vacancy rates can act as a lead indicator to both rental and sale price increases.
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Inventory chart
Auction clearance rates in the area. The higher the clearance rate, the greater is the demand in the market. This metric is most useful at LGA level. Some high density suburbs with active markets can also have good quality clearance rate data. However, this metric is somewhat sparse for 80% of suburbs.
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Auction chart

All Supply / Demand cards and graphs on this page are published under a preliminary Beta release.
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Property Market in Port Phillip City, VIC

What other property markets are there near Port Phillip City, VIC?

Port Phillip City is surrounded by 4 other council areas – Bayside, Melbourne, Glen Eira, Stonnington.

Suburbs/localities in this Local Government Area: Balaclava 3183, Middle Park 3206, Albert Park 3206, Ripponlea 3185, South Melbourne 3205, St Kilda 3182, St Kilda West 3182, Windsor 3181, Elwood 3184

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