Albion

POSTAL CODE: VIC, 3020

HOUSE

UNIT

A steady increase in median property prices over a five-year period in the suburb translates to a -1.04% capital gain.

It 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 $806,500

The augmented property values in the suburb are trailing above the territorial average of 4.48% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $500.

Home owners selling their properties and realtors in ALBION usually have to wait an average of 49 days days before their assets are lifted off the market.

The VIC suburb ranks 401st on the list of best yielding suburbs for rental properties in VIC, posting a 3.22% return.

It also places places 302nd in Australia based on median property value growth during the quarter.

Property investors enjoyed capital gains of 21.21% over the last 12 months in ALBION, translating to lower returns compared with its peers in VIC.

A survey of average capital gains or median home price increase in suburbs across the country shows that ALBION, 3020 obtained a 4.18% growth over a ten-year period. It ranks 1065th on our list of suburbs that property investors should look into.

ALBION, 3020 has a capital gain of 21.21% for the past year, which is higher than average compared to its -25.61% growth within a five-year period.

With the median home price in ALBION sitting at $351,500, and the average rent at $400, property owners could potentially earn a 5.92% increase in gross rental yield.

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

ALBION, 3020 in VIC belongs to the local government area of Brimbank.

Surburb overview

Bearing the postcode 3020, Albion is a suburb located approximately 14 kilometres west of Melbourne's Central Business District (CBD). According to the 2021 census, it has a population of 4,334 residents. The suburb is characterised by a diverse demographic, including young professionals, families, and retirees, with a median age of 35. Most of the population comprises couples with children, reflecting a family-friendly environment.

Public transportation in Albion is well-developed, offering residents convenient access to various parts of Melbourne. The Albion railway station on the Sunbury line serves the suburb, facilitating easy travel to and from the CBD and surrounding areas. Additionally, several bus routes operate through Albion, providing further connectivity options.

Albion has various essential establishments, including educational institutions, healthcare facilities, and shopping centres. The suburb boasts a variety of cafes, restaurants, and boutique shops, contributing to a vibrant local economy. The presence of parks and recreational facilities enhances the quality of life for residents, offering spaces for leisure and community activities.

Recreational activities are abundant in Albion, with numerous parks and green spaces available for public use. The picturesque Kororoit Creek provides walking, picnicking, and outdoor sports opportunities. Additionally, the suburb's proximity to the Sunshine Marketplace offers residents access to various retail and entertainment options.

Albion's blend of urban convenience and community-oriented living makes it a desirable location for diverse residents.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$806,500	$351,500
Growth Report
Median Quarterly	0.69%	0%
Median 12 month	7.53%	21.21%
Median 3 years	-1.04%	-2.9%
Median 5 years	4.06%	-25.61%
10 years average annual	4.68%	4.18%
Weekly media advert. rent	$500	$400
Time on Market	49 days	52.9 days
Gross Rental Yield Percent	3.22%	5.92%

Demographics (Median Values)*

Total Population 44783

Weekly Household Income 1128

Household Size 2.80

Average Age 35

Monthly Loan Repayment 1517

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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