Get a property report and suburb profile for any property in Ascot Vale

Ascot Vale sits in inner north-west Melbourne around a lively village strip on Union Road and a green corridor beside the Maribyrnong River. Streets mix Victorian terraces and interwar cottages with pockets of low-rise apartments, so there’s a blend of established homes and newer infill. Residents enjoy a strong café and local retail scene, sporting clubs and riverside walking and cycling paths, and Ascot Vale train station, tram services and major roads make commuting straightforward. It feels like a convenient inner-city pocket that still has riverside open space and neighbourhood amenities for families and professionals alike.

About 15,197 people live in Ascot Vale; the median age is 37 and median household income is $2,192 a week (roughly $114,000 a year). Families form the bulk of households and homes are more often owner-occupied than rented. Several council-led upgrades are under way, from a major library renewal and a new kindergarten and maternal and child health facility to leisure centre and riverside improvements. If riverside paths, local cafés and good public transport matter to you, Ascot Vale brings those together; whether it suits you depends on what you’re after.

Housing costs in Ascot Vale 3032 look mixed against local incomes recorded at the most recent Census. The median house price of $1,400,000 is about 12.3 times a typical local household's annual income at the last Census, while the median unit price of $545,000 is about 4.8 times that annual income.

On the rental side, a house rent of $740 a week would take about 33.8% of a typical local household's weekly income at the last Census, a sizeable share, and a unit rent of $500 a week would take about 22.8%, a moderate share. That means buying a house is much more stretched against local incomes at the last Census than renting a unit; whether that feels expensive depends on your own income and circumstances.

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

Units have been the standout in Ascot Vale over the last 12 months: median unit values rose 13.6%, a strong increase, while unit rents increased 2.0%, a modest gain. On the units side capital growth outpaced rental income growth this year.

Houses were quieter by comparison. Median house values rose 4.0%, a modest increase, while house rents edged up 1.4%, a slight rise. Both property types saw prices rise more than rents over the year, with the gap between value growth and rent growth much larger for units. Which of those outcomes matters most will depend on whether you prioritise capital growth or rental income.

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.