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Albert Park, VIC 3206

Home » VIC Real Estate Data » Port Phillip City, VIC » Albert Park, VIC 3206

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 Albert Park, VIC 3206 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.

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Yield 

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Buy 

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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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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.

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0 thoughts on “Albert Park, VIC 3206”

  1. The total adult population (15 years or older) of Albert Park 3206 VIC is 5,052, with a median age of 46. Of those, 46.56% are married, 12.51% are divorced or separated, 36.66% are single and 4.20% are widowed.

    The average household size is 2.2 people per dwelling, and the median household monthly income is estimated to be $15,320. The median monthly mortgage repayment for households in this suburb is $3,500 which is 22.85% of their earnings.

    Source: ABS Census Data (2021)

  2. The renowned suburb of Albert Park, bearing the postcode 3206, is nestled within the state of Victoria and is known to house an approximately 3736 households. Offering a coveted blend of lifestyle and location, it’s no wonder that the property landscape in Albert Park has seen substantial progression well into the third quarter of 2023.

    The current statistics depict Albert Park as a fervent hub for property investments and real estate growth. Houses in this sought-after suburb typically fetch a price of $2,140,702 and command a median weekly rent of $1,074. This corresponds to an indicative yield of 2.61%, slightly lower than the ideal yield for property investors aiming for strong cash flow.

    Peering into the socio-economic landscape, Albert Park scores a remarkable 1132 out of a possible 1217 on the IRSAD scale. This suggests a locality where the population enjoys significant access to economic resources, expert skills and professional opportunities. However, the renter to owner ratio stands at 37%, placing it in a risky investment zone due to high competition among investors and a probable degradation of neighbourhood appeal caused by an exceeding renter population.

    The suburb’s housing market is predominantly dominated by houses with the units to houses ratio standing at a petite 12%. This is a favourable trend which fosters less competition among landlords for tenants and garners higher rental yields. Furthermore, Albert Park’s proclivity towards houses enhances the suburb’s appeal to families, encouraging long-term tenancies.

    Delving into the affordability index, the metric is calculated at 55 years; a value higher than the standard 30-year mortgage and thus indicating reduced affordability for potential homeowners. This, however, can lead to an increased demand for rental properties, ensuring a potential source of stable rental income for property investors.

    As per Q3 2023 supply metrics, the stock on market percentage sits at a beneficially low 0.09% and inventory levels are at 0.41 months. These figures indicate a favourable scenario in the housing market with a low supply status. Moreover, the building approval ratio is a mere 0.06%, suggesting a low influx of new dwellings in the upcoming times.

    Meanwhile, on the demand front, houses in Albert Park average about 20 days on the market; indicating a high demand in this locale. Further complementing the robust demand are the adequately low vacancy rates of 1.16% and a neutral buy search index of 5 for houses.

    In summation, Albert Park presents a promising prospect for property investors with the majority of its property market metrics delineating a favourable trend. However, keen attention to the renter to owner ratio and indicative yield is key to ensuring a balanced view of the investment landscape in Albert Park.

    Yet, it’s noteworthy to point out the advent of the Relative Composite Score (RCS) developed by HtAG Analytics. Serving as a comprehensive research tool, the RCS compiles over 80 metrics to provide investors with an all-encompassing overview of the property market conditions for an informed decision-making process.

    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.

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