Albert Park is a mid-sized suburb in Victoria within the Port Phillip local government area (postcode 3206). With a population of 6,044, the suburb has a mature demographic with a median age of 46. Households earn a median income of $132K per year, with an average household size of 2.2 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Albert Park is $2.2 million, having dipped slightly 2.7% over the past year. Units have a median price of $1.4 million (+38% YoY). The current median weekly rent is $570. This gives a gross rental yield of approximately 1.3%. The median monthly mortgage repayment is $3,500.
Albert Park is served by 3 schools, including 2 primary, 1 secondary. The average ICSEA score is 1129, which is well above the national average of 1,000. Public transport access includes 2 rail stations, 2 tram stops, 25 bus stops. The crime rate in the Port Phillip LGA is higher than average at 13,835 incidents per 100,000 population.
From an investment perspective, Albert Park offers a gross rental yield of 1.3%, rated as low yield. Property prices are above the state median ($2.2M/$875K), placing it in the premium segment. The price-to-income ratio of 16.9x is considered stretched. House prices have moved -2.7% year-on-year.
Albert Park is a mid-sized suburb in Victoria within the Port Phillip local government area (postcode 3206). With a population of 6,044, the suburb has a mature demographic with a median age of 46. Households earn a median income of $132K per year, with an average household size of 2.2 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Albert Park is $2.2 million, having dipped slightly 2.7% over the past year. Units have a median price of $1.4 million (+38% YoY). The current median weekly rent is $570. This gives a gross rental yield of approximately 1.3%. The median monthly mortgage repayment is $3,500.
Albert Park is served by 3 schools, including 2 primary, 1 secondary. The average ICSEA score is 1129, which is well above the national average of 1,000. Public transport access includes 2 rail stations, 2 tram stops, 25 bus stops. The crime rate in the Port Phillip LGA is higher than average at 13,835 incidents per 100,000 population.
From an investment perspective, Albert Park offers a gross rental yield of 1.3%, rated as low yield. Property prices are above the state median ($2.2M/$875K), placing it in the premium segment. The price-to-income ratio of 16.9x is considered stretched. House prices have moved -2.7% year-on-year.