Question 1

Is Albion a nice place to live?

Accepted Answer

Albion is a compact inner-west suburb beside Kororoit Creek, adjoining Sunshine. Streets mix modest weatherboard cottages and brick post-war homes with pockets of newer townhouses and light industrial sites, giving a practical, utilitarian feel. Albion railway station on the Sunbury line provides a direct rail link and arterial roads connect residents; daily shopping and community facilities are small scale while bigger retail and cafés are a short trip away in Sunshine. The suburb has 4,334 people, a median age of 35, and households are slightly more owner-occupied than rented (53.5% owner-occupied, 46.5% rented). Albion suits people after affordable, no-frills living with parkland and creekside trails on the doorstep. It is also part of the Sunshine Priority Precinct and subject to several state and council projects, including a government commitment to rebuild Albion Station and local walking and cycling upgrades, signalling investment in local transport links.

Question 2

Is it expensive to live in Albion?

Accepted Answer

On the figures for Albion, rents take a meaningful slice of local income as recorded at the most recent Census. A house rent of $520 a week would use about 39.7% of a typical local household's weekly income at the last Census, a sizeable share, while a unit rent of $380 a week would take about 29.0%, a moderate share.

Buying is further above what local households earned at the last Census: the median house price of $798,000 is about 11.7 times a typical local annual household income at the last Census, and the median unit price of $470,000 is about 6.9 times. Which measure matters most depends on whether you plan to rent or buy and on your own circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Albion a good place to invest?

Accepted Answer

Unit values in Albion jumped 44.1% over the past 12 months, a large rise. House values also increased, up 6.4% over the year, a solid gain. Rents moved more modestly: unit rents rose 5.6% and house rents rose 4.0% over the same period.

If you are weighing Albion as an investment, the value figures relate to capital growth and the rent figures relate to rental income. The clearest movement this year was strong unit capital growth, while rental income climbed more modestly and rose slightly faster for units than for houses. Whether that balance fits your goals and circumstances is for you to decide.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	$798K	$470K
Change in value Past 12 months	6.4%	44.1%
Sold Past 3 months	13	10
Median days on market Past 12 months	38	34
Average rent Past 12 months	$520	$380
Change in rent Past 12 months	4.0%	5.6%

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