Get a property report and suburb profile for any property in Port Melbourne

Port Melbourne sits on Port Phillip with a seaside but inner-city feel. Its sandy beach, waterfront promenade and the prominent Station Pier and Princes Pier give the suburb a strong coastal focus, while Bay Street acts as the local spine, lined with cafes, pubs and independent shops. Side streets show a mix of Victorian workers cottages, converted warehouses and newer waterfront apartments, and marinas plus foreshore cycle and walking paths extend the waterfront lifestyle. It is popular with professionals, families and downsizers who value coastal access and easy public transport links to the city.

The community of 17,633 has a median age of 42 and a typical household income of $2,372 a week. More than four in five families are couple families and homes are slightly more likely to be owner-occupied than rented. Port Melbourne is part of the Fishermans Bend renewal precinct, with plans for new parks, streets and community facilities, a recently opened secondary college, transport upgrades to support tram services and other port works that influence local amenity and connectivity.

Housing in Port Melbourne sits well above local incomes as recorded at the last Census. A median house price of $1,355,000 is about 11.0 times a typical local annual household income at the last Census, which is well above local incomes; the median unit price of $735,000 is about 6.0 times a typical local annual household income, which sits above local incomes. Looking at rents, a house rent of $980 a week would take about 41.3% of a typical local household's weekly income at the last Census, a large share, while a unit rent of $695 a week would take about 29.3% of that income, a moderate share. Which of these matters most depends on whether you plan to rent or buy.

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

Over the past 12 months in Port Melbourne the picture has been mixed between capital growth and rental income. Median unit values rose 4.0% over the year, a modest increase, while median house values edged up 1.7%, a slight rise. On the income side, house rents climbed 3.2% and unit rents rose 2.5%, both modest gains. Put another way, the rent a house earns increased faster than its price (3.2% versus 1.7%), whereas unit prices grew faster than unit rents (4.0% versus 2.5%). Whether that balance suits your investment goals depends on your priorities and 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.