Get a property report and suburb profile for any property in Docklands

Docklands is an inner-city waterfront precinct beside Melbourne's CBD, built around reclaimed wharves, canals and a harbour frontage. It is a modern, high-rise neighbourhood of contemporary apartments, corporate offices and an events stadium, with promenades, marinas and pocket parks along the shoreline. Residents tend to be professionals, downsizers and people who favour inner-city waterside living; the median age is 32 and 68.8% of homes are rented.

Cafes, restaurants, entertainment venues, tram links and nearby train services make day-to-day life convenient for a city-focused lifestyle. The City of Melbourne is leading public projects to upgrade the waterfront, streetscape, transport and urban greening, plus trials of local energy and temporary activations around Central Pier. That mix will suit people after apartment-style, waterside living close to the CBD; whether Docklands is right for you depends on what you value in a suburb.

Housing costs in Docklands sit unevenly against what local households earned at the last Census. For renters, a house averaging $1,125 a week would take about 57.5% of a typical local household's weekly income at the last Census, a large share, while a unit at $710 a week would take about 36.3% of that income, a sizeable share of weekly earnings.

For buyers, the median unit price of $550,000 works out to about 5.4 times a typical local household's annual income at the last Census, which places unit prices somewhat above local incomes. If you're renting, the rent share is the most relevant figure; if buying, the price multiple shows how purchase sits against local incomes.

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

For Docklands the house side was the standout over the last year: median house values rose 34.7% while house rents jumped 44.2%, so the rent a house earns outpaced capital growth on the house market this year. If rental income is the number you care about, that large rise in house rents is the most relevant figure.

Units moved differently. Median unit values fell 6.9% over the year while unit rents rose 4.4% modestly, so unit prices declined even as rents edged higher. Whether that mix of stronger house rent growth and weaker unit values fits your goals depends on whether you prioritise rental income or capital growth and on your own circumstances.

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.