Newport suburb profile
Newport is a charming suburb located 7km southwest of Melbourne's CBD, known for its blend of heritage and modern living. With a strong community spirit, Newport offers a mix of period homes and contemporary developments, making it appealing to families and professionals. The suburb is well-served by public transport, including a train station, and is close to major roads, providing easy access to the city and surrounding areas. Newport Lakes, a popular local park, offers green spaces and recreational activities, while the vibrant local arts scene and cafes contribute to the suburb's lively atmosphere.
Newport property market performance
Newport's property market has shown stability over the past 12 months, with house values remaining unchanged and unit values experiencing a modest increase of 1.9%. The median house price has averaged $1.28 million, while units have averaged $790,000, indicating steady demand in the area.
Sales activity has been consistent, with 35 houses and 15 units sold in the past three months. Houses are selling slightly faster than units, with a median time on market of 44 days compared to 48 days for units, suggesting a balanced market.
In Newport's rental market, house rents have remained stable over the last 12 months, while unit rents have increased by 7.1%, reflecting a growing demand for rental units in the suburb.
Median price - houses$1.28MPast 3 months
Median price - units$790KPast 3 months
Change in value - houses-0.6%12 months
Change in value - units1.9%12 months
Houses sold35Past 3 months
Units sold15Past 3 months
Median DOM - houses44Past 12 months
Median DOM - units48Past 12 months
Average rent - houses$680Past 12 months
Average rent - units$600Past 12 months
Change in rent - houses-1.4%Past 12 months
Change in rent - units7.1%Past 12 months
Newport demographics
Newport, located in Melbourne's inner-west, is a charming suburb that offers a blend of urban convenience and suburban tranquility. With a population of 13,658 and a median age of 38, Newport is home to a diverse community that includes families, professionals, and long-term residents. The suburb's proximity to the city, combined with its local amenities and parks, makes it an attractive place for those seeking a balanced lifestyle.
The family-oriented nature of Newport is evident, with 52.5% of households being couple families with children. This is complemented by 32.7% of couple families without children and 13.3% of one-parent families, highlighting the suburb's appeal to a wide range of family structures. The strong sense of community is further supported by local schools, recreational facilities, and community events that cater to families and individuals alike.
In terms of housing, Newport offers a mix of property ownership options. A significant 28.9% of properties are owned outright, while 42% are owned with a mortgage, indicating a stable housing market with opportunities for both established homeowners and new buyers. Additionally, 29.2% of properties are rented, providing flexibility for those who prefer renting. The suburb's well-connected transport links, including train and bus services, enhance its accessibility, making Newport a desirable location for commuters and families seeking a vibrant yet relaxed lifestyle.
Newport infrastructure, key developments and investment opportunities
Newport is experiencing several developments that could impact its property market. The ongoing revitalization of the Newport Railway Workshops area is transforming the suburb's industrial heritage into a mixed-use precinct, potentially boosting local property values. Additionally, the suburb's proximity to Williamstown Beach and the CBD, coupled with excellent public transport links, continues to attract young families and professionals.
Recent improvements to local amenities, including upgrades to Bryan Martyn Oval and Newport Park, have enhanced the suburb's livability. The thriving arts scene centered around The Substation community arts centre adds cultural value to the area. While there are no major new infrastructure projects announced, the ongoing gentrification and community developments are likely to sustain Newport's appeal and potentially drive property demand in the coming years.
Newport rental market trends
The rental market in Newport has shown stability, with house rents remaining unchanged at $680 per week over the past year, while unit rents have increased by 7.1% to $600 per week. This steady growth in unit rents reflects a strong demand for more affordable living options, making Newport an attractive choice for renters seeking value in a well-connected suburb.
Suburbs near Newport
Some popular suburbs near Newport include: