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Port Melbourne

POSTAL CODE: VIC, 3207
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Based on its average 5-year and quarterly capital gains PORT MELBOURNE, 3207 saw average growth in the long term.

A survey of average capital gains or median home price increase in suburbs across the country shows that PORT MELBOURNE, 3207 obtained a 2.77% growth over a ten-year period. It ranks 3564th on our list of suburbs that property investors should look into.

PORT MELBOURNE, 3207 in VIC belongs to the local government area of Port Phillip.

PORT MELBOURNE, 3207 has a capital gain of 1.88% for the past year, which is higher than average compared to its 4.45% growth within a five-year period.

With the median home price in PORT MELBOURNE sitting at $1,630,000, and the average rent at $875, property owners could potentially earn a 2.79% increase in gross rental yield.

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

Surburb overview

Port Melbourne is an inner-city bayside suburb of Melbourne, located about 5 kilometres south-west of the central business district within the City of Port Phillip. It sits along the northern shoreline of Port Phillip and has transitioned from an industrial and maritime hub into a mixed-use residential and commercial area.

The suburb has a population of around 17,000 residents, with a demographic profile that includes professionals, apartment dwellers and long-term residents. Housing in Port Melbourne is characterised by a mix of converted warehouses, modern apartments and townhouses, alongside some preserved historic cottages.

Public transport is well established, with tram routes providing direct access to Melbourne’s CBD and surrounding suburbs. While there is no heavy rail station in Port Melbourne, nearby options include Southern Cross and Flinders Street railway stations.

Major roads such as City Road, Lorimer Street and the West Gate Freeway support strong road connectivity. Retail and commercial activity is centred around Bay Street, which features supermarkets, cafes, restaurants and local services.

Port Melbourne retains a strong connection to its maritime history, with Station Pier serving as a key passenger ship and cruise liner terminal. 

The suburb also includes extensive waterfront areas, including Port Melbourne Beach and the foreshore, which support walking, cycling and recreational use. Parks and open spaces, such as Lagoon Reserve and Gasworks Arts Park, contribute to local amenity and community activity.

Port Melbourne developed in the 19th century as Melbourne’s primary port, and its industrial heritage remains evident in parts of the built environment. Ongoing urban renewal has reshaped the suburb into a higher-density residential area, with planning focused on balancing growth, heritage preservation and access to the waterfront.

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