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Albert Park

POSTAL CODE: VIC, 3206
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Property investors enjoyed capital gains of 4.73% over the last 12 months in ALBERT PARK, 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 the VIC suburb obtained a 4.03% growth over a ten-year period. It ranks 3351st on our list of suburbs that property investors should look into.

ALBERT PARK, 3206 has a capital gain of 4.73% for the past year, which is lower than average compared to its 26.28% growth within a five-year period.

With the median home price in ALBERT PARK sitting at $2,410,000, and the average rent at $1100, property owners could potentially earn a 2.37% increase in gross rental yield.

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

ALBERT PARK, 3206 in VIC belongs to the local government area of Port Phillip.

Surburb overview

Albert Park is an inner bayside suburb of Melbourne, located about 3 kilometres south of the central business district within the City of Port Phillip. It sits directly on the coastline of Port Phillip and is known for its heritage streetscapes, proximity to the city and access to significant parkland.

The suburb has a population of around 6,000 residents, with a demographic profile that includes professionals, established households and long-term residents. Housing is characterised by well-preserved Victorian and Edwardian terraces, alongside some low-rise apartments, reflecting its historical development and planning controls.

Public transport in Albert Park is primarily tram-based, with several routes providing direct connections to the CBD and surrounding suburbs. There is no railway station within the suburb; the nearest heavy rail stations are Southern Cross and Flinders Street.

Road access is supported by major routes such as Beaconsfield Parade and Queens Road, linking the suburb to central Melbourne and the wider metropolitan area. Local retail activity is centred along Bridport Street and Victoria Avenue, offering cafes, shops and essential services.

Albert Park is defined by its recreational and environmental assets, particularly Albert Park, a large public reserve that includes Albert Park Lake, sporting facilities and open space.

The suburb’s beachfront provides access to swimming, walking and cycling along the foreshore. It is also internationally recognised for hosting the Australian Grand Prix, held annually around the Albert Park Lake circuit.

Albert Park developed in the mid-19th century as a residential area for workers and middle-income households, and its heritage character remains a key planning consideration. Ongoing policies focus on preserving historic built form while maintaining access to public open space and transport connectivity.

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