Port Melbourne is a well-established suburb in Victoria within the Port Phillip local government area (postcode 3207). With a population of 17,633, the suburb has an established demographic with a median age of 42. Households earn a median income of $123K per year, with an average household size of 2.1 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Port Melbourne is $1.6 million, having dropped significantly 8.8% over the past year. Units have a median price of $759,000 (+2% YoY). The current median weekly rent is $673. This gives a gross rental yield of approximately 2.2%. The median monthly mortgage repayment is $2,500.
Port Melbourne is served by 3 schools, including 1 primary, 1 secondary, 1 special. The average ICSEA score is 1106, which is well above the national average of 1,000. Public transport access includes 5 rail stations, 3 tram stops, 3 ferry wharfves, 87 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, Port Melbourne offers a gross rental yield of 2.2%, rated as low yield. Property prices are above the state median ($1.6M/$875K), placing it in the premium segment. The price-to-income ratio of 13.0x is considered stretched. House prices have moved -8.8% year-on-year.
Port Melbourne is a well-established suburb in Victoria within the Port Phillip local government area (postcode 3207). With a population of 17,633, the suburb has an established demographic with a median age of 42. Households earn a median income of $123K per year, with an average household size of 2.1 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Port Melbourne is $1.6 million, having dropped significantly 8.8% over the past year. Units have a median price of $759,000 (+2% YoY). The current median weekly rent is $673. This gives a gross rental yield of approximately 2.2%. The median monthly mortgage repayment is $2,500.
Port Melbourne is served by 3 schools, including 1 primary, 1 secondary, 1 special. The average ICSEA score is 1106, which is well above the national average of 1,000. Public transport access includes 5 rail stations, 3 tram stops, 3 ferry wharfves, 87 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, Port Melbourne offers a gross rental yield of 2.2%, rated as low yield. Property prices are above the state median ($1.6M/$875K), placing it in the premium segment. The price-to-income ratio of 13.0x is considered stretched. House prices have moved -8.8% year-on-year.