Albany is a small locality in Western Australia within the Albany local government area (postcode 6330). With a population of 1,403, the suburb has a more retirement-aged population with a median age of 55. Households earn a median income of $71K per year, with an average household size of 2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.4% year-on-year at the LGA level. WA employment has moved +1.1% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. WA also had 31 Commonwealth-backed major projects under construction, 7 underway, and 16 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 professionals, managers, community & personal service. Employment in the area leans toward healthcare and education. The top ancestries reported are English, Australian, Scottish.
Median house prices in Albany stand at $550,000, having risen steeply by 14.6% over the last twelve months. Units have a median price of $390,000 (+4% YoY). The current median weekly rent is $500. This gives a gross rental yield of approximately 4.7%. The median monthly mortgage repayment is $1,700.
Albany is served by 12 schools, including 5 primary, 2 secondary, 4 combined, 1 special. The average ICSEA score is 994, which is around the national average of 1,000. Public transport access includes 14 bus stops.
From an investment perspective, The gross rental yield works out to roughly 4.7%, which reads as moderate yield. Property prices sit below the state median ($550K/$951K), which can point to relative value. The price-to-income ratio of 7.8x is considered moderate. House prices have moved +14.6% year-on-year. Population growth of +1.4% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.