Albert Park, VIC 3206: Suburb Profile & Property Report

Market Report

House report
Unit Report

Albert Park has 123 houses available for sale. The median property price for a house is currently $2,172,500 with annual capital growth of -8.04% . There were 102 house sales in the past 12 months. On average, houses spend 37 days on market.

If you're thinking about buying an investment property in Albert Park, consider that rental yields for houses are currently 2.30% with an average median rent of $878 weekly. Houses have seen -0.69% growth in the past quarter, and -8.04% growth in the past 12 months.

The size of Albert Park is approximately 2.8 square kilometres. It has 10 parks covering nearly 55.1% of total area. The population of Albert Park in 2011 was 5,954 people. By 2016 the population was 6,185 showing a population growth of 3.9% in the area during that time. The predominant age group in Albert Park is 40-49 years.

Households in Albert Park are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Albert Park work in a professional occupation. In 2011, 56.5% of the homes in Albert Park were owner-occupied compared with 58.9% in 2016.

Albert Park has 22 units available for sale. The median property price for a unit is currently $1,477,500 with annual capital growth of 6.67% . There were 24 unit sales in the past 12 months. On average, units spend 35 days on market.

If you're thinking about buying an investment property in Albert Park, consider that rental yields for units are currently 3.67% with an average median rent of $548 weekly. Units have seen 24.16% growth in the past quarter, and 6.67% growth in the past 12 months.

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Key Market Data	House	Unit
Median price	$2,172,500	$1,477,500
Quarterly growth	-0.69%	+24.16%
12-month growth	-8.04%	+6.67%
Average annual growth	+2.83%	+10.73%
Weekly median rent	$878	$548
Gross rental yield	2.30%	3.67%
Number of Sales (12m)	102	24
Avg. Days on Market (12m)	37	35

Jump to Market Trends

Key Demographics	2011	2016
Total population	5,954	6,185
Population change (5y)	+2.18%	+3.90%
Median household income (p/w)	$2,137	$2,265
Household income change (5y)	+33.23%	+5.99%
Median age of persons	41	43

Jump to Demographics Trends

Market Trends

Houses

Units

The Median Sale Price in Albert Park is $2,172,500 for houses and $1,477,500 for units.

The Median Growth in Albert Park over the past 12 months is -8.04% for houses and 6.67% for units.

Over the past 12 months there were 102 houses sold and 24 units sold in Albert Park. On average, houses spent 37 days on market and units spent 35 days on market.

In the past 12 months up to August 2024 there were 102 houses sold and 24 units sold in Albert Park. On average, houses spent 37 days on market and units spent 35 days on market.

1 Year 5 Years 10 Years

Houses

Units

The Median Rent in Albert Park is $878 for houses and $548 for units.

The Rental Yield in Albert Park is 2.30% for houses and 3.67% for units.

1 Year 5 Years 10 Years

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Demographic Trends

Better understand demographic trends by reviewing the latest suburb demographic data below.

Age groups Country of Birth Religious Affiliation Household Income Occupations Education Level Qualification Level

The population of Albert Park was 6,185 in 2016, a +3.90% change compared to 2011.

The predominant age group in Albert Park is 40-49 years.

The population of Albert Park was 6,185 in 2016, a +3.90% change compared to 2011.

The predominant age group in Albert Park is 30-39 years.

Most of the population in Albert Park were born in Australia.

Most of the population in Albert Park report their religion as No Religion.

Most of the population in Albert Park report their income range as $182,000 .

The median household income in Albert Park was $2,265 in 2016, a +5.99% change compared to 2011.

Most of the population in Albert Park report their income range as between $130,000 and $182,000 .

The median household income in Albert Park was $2,137 in 2011, a +33.23% change compared to 2006.

Most of the population in Albert Park work as Professional.

The chart below demonstrates the various levels of education in Albert Park.

Most of the population in Albert Park reached a qualification level of Bachelor.

2011 2016

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