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Docklands

POSTAL CODE: VIC, 3008
UNIT

Property investments in DOCKLANDS did not fare well against the rest of the country last year, registering a median home price decrease of -1.34%.

Figures from the previous quarter show that capital gains for real estate buyers in DOCKLANDS are low, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains DOCKLANDS, 3008 saw average decrease in the long term.

This means, real estate investors could earn a rental income of $700 based on current median home prices for the suburb.

It is expected for properties to spend some time on the market prior to a successful sale. In DOCKLANDS, homes and units usually stay on listing for an average of 72 days.

the VIC suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $590,000

Investors saw the median home price rise to $590,000.

DOCKLANDS ranks 16th on the list of best yielding suburbs for rental properties in VIC, posting a 6.17% return.

Surburb overview

Docklands, bearing the postcode 3008, is an inner-city suburb approximately 2 kilometres west of Melbourne's Central Business District (CBD). As of the 2021 census, Docklands had a population of 13,964 residents. The suburb is characterised by a diverse demographic, including young professionals, families, and retirees, with a significant proportion of residents aged between 25 and 34. 

Public transportation in Docklands is well-developed, offering residents convenient access to various parts of Melbourne. The suburb is serviced by multiple tram routes, including the 35 (City Circle), 70 (Wattle Park), and 86 (Bundoora RMIT) lines, facilitating easy travel to and from the CBD and surrounding areas.  Additionally, Southern Cross Station, a central railway hub, is located nearby, providing further connectivity options. 

Docklands has various essential establishments, including educational institutions, healthcare facilities, and shopping centres. The District Docklands and DFO South Wharf offer various retail options catering to diverse shopping needs.  The suburb also boasts a variety of cafes, restaurants, and boutique shops, contributing to a vibrant local economy. 

Docklands offers numerous recreational activities, including parks and green spaces. The picturesque Fitzroy Gardens, manicured lawns, tranquil walking paths, and historic landmarks provide an idyllic escape for nature lovers and outdoor enthusiasts alike. Additionally, the suburb's proximity to sporting facilities and fitness centres caters to active residents seeking to maintain a healthy lifestyle close to home. 

Docklands offers a blend of urban convenience and suburban tranquillity, making it a desirable location for diverse residents. 

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