Albanvale is a mid-sized suburb in Victoria within the Brimbank local government area (postcode 3021). With a population of 5,641, the suburb has a mix of families and early-career residents with a median age of 37. Households earn a median income of $67K per year, with an average household size of 2.9 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.3% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are labourers, technicians & trades, machinery operators & drivers. Employment in the area leans toward manufacturing and healthcare. The top ancestries reported are Vietnamese, Australian, English.
Albanvale has a median house price of $610,000, which has eased back by 0.5% year-on-year. The current median weekly rent is $490. This gives a gross rental yield of approximately 4.2%. The median monthly mortgage repayment is $1,500.
Albanvale is served by 1 school, including 1 primary. The average ICSEA score is 950, which is around the national average of 1,000. Public transport access includes 1 rail station, 22 bus stops. The crime rate in the Brimbank LGA is higher than average at 9,438 incidents per 100,000 population.
On the investment side, Gross rental yield sits at around 4.2% (moderate yield). Property prices sit below the state median ($610K/$875K), which can point to relative value. The price-to-income ratio of 9.2x is considered moderate. House prices have moved -0.5% year-on-year. Population growth of +0.3% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.