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Williamstown suburb profile

Williamstown is a picturesque suburb located southwest of Melbourne's CBD, known for its maritime history and stunning waterfront views. This charming suburb offers a unique blend of historic architecture, including Victorian-era buildings, and modern amenities. Williamstown's vibrant community enjoys a variety of cafes, restaurants, and boutique shops, particularly along Nelson Place. The suburb is also home to beautiful parks and beaches, providing ample recreational opportunities. With its strong transport links to the city and a welcoming village atmosphere, Williamstown remains a popular choice for families, professionals, and retirees seeking a coastal lifestyle.

Williamstown property market performance

Current median dwelling price$1,077,500Past 3 months

Property growth-3.4%Past 12 months

Williamstown’s property market has shown varied performance over the past 12 months. House values have increased by 9.1%, bringing the median house price to approximately $1.53 million. In contrast, unit values have remained stable, with the median unit price holding at around $600,100.

Sales activity has been moderate, with 71 houses and 25 units sold in the past 12 months. However, properties are taking longer to sell, with houses spending a median of 71 days on the market and units taking even longer at 96 days, indicating a more cautious buyer sentiment.

The rental market in Williamstown has seen a slight increase in house rents by 1.3%, while unit rents have experienced a more significant rise of 9.0%, suggesting a growing demand for rental units in the area.

HousesUnits
Median price
Past 3 months
$1.51M$640K
Change in value
Past 12 months
4.5%-11.2%
Sold
Past 3 months
6419
Median days on market
Past 12 months
6583
Average rent
Past 12 months
$800$550
Change in rent
Past 12 months
0.6%10.0%

5 year median price trend for houses and units

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Williamstown demographics

Williamstown, a picturesque suburb located in Melbourne's southwest, is renowned for its maritime history, charming streetscapes, and vibrant community. With a population of 14,407, the suburb offers a blend of historical charm and modern convenience, making it a desirable location for families and professionals alike. The median age of 45 suggests a mature community, with many residents enjoying the suburb's relaxed coastal lifestyle and proximity to the city.

The suburb's family-oriented nature is evident, with nearly half of the families being couple families with children, and a significant portion being couple families without children. This demographic composition highlights Williamstown's appeal to both growing families and those seeking a quieter, more settled environment. The median total household income of $2,411 per week reflects the suburb's relatively affluent status, supported by its well-maintained heritage homes and modern amenities.

Property ownership in Williamstown is predominantly characterized by stability, with 41.1% of homes owned outright and 34% owned with a mortgage. This high level of home ownership underscores the suburb's appeal to long-term residents and those investing in their future. Meanwhile, 25% of the properties are rented, offering options for those seeking flexibility. Williamstown's unique blend of historical significance, community spirit, and coastal beauty makes it a sought-after destination for those looking to enjoy a balanced and fulfilling lifestyle.

Suburbs near Williamstown

Some popular suburbs near Williamstown include:

  • Williamstown North: Known for its industrial roots and growing residential appeal, Williamstown North is located directly north of Williamstown.
  • Newport: Featuring a vibrant community with a mix of heritage and modern homes, Newport is situated to the northeast of Williamstown.
  • Spotswood: Known for its eclectic mix of cafes and proximity to the Scienceworks museum, Spotswood lies to the east of Williamstown.
  • Port Melbourne: Offering a blend of beachside living and urban amenities, Port Melbourne is located to the southeast of Williamstown across the bay.
  • South Kingsville: Known for its quiet residential streets and community feel, South Kingsville is situated to the north of Williamstown.

How does Williamstown compare to nearby suburbs?

  • Median house prices: Williamstown’s median house price is 23.7% higher than Newport’s.
  • Median unit prices: Williamstown’s median unit price is 6.0% lower than Newport’s.
  • House price growth: Over the past 12 months, house prices in Williamstown have grown 7.1% higher than in Spotswood.
  • Unit price growth: Over the past 12 months, unit prices in Williamstown have grown 1.1% higher than in South Kingsville.
  • Selling speed for houses: Properties in Williamstown are selling 32.3% faster than in Williamstown North.
  • Selling speed for units: Properties in nearby Newport are selling 38.6% faster than in Williamstown.
  • Investment considerations: In Williamstown, the rental yield for house is 27.0% higher than the Melbourne average, while the rental yield for units is 6.1% lower.
  • House price growth: Over the past 12 months, house prices in Williamstown have grown 52.7% higher than the average rate of growth across Melbourne.
  • Unit price growth:Over the past 12 months, unit prices in Williamstown have grown 14.7% higher than the average rate of growth for units across Melbourne.

Choose the right real estate agents in Williamstown

There are 77 real estate agents in Williamstown, but they don’t all deliver the same results.

Some agents have a much stronger presence in the suburb, with just 5 agents handling around 38.1% of all sales in the past year.

Commission rates in Williamstown typically range from 1.75% to 2.88%. Comparing agents—including what they charge, what’s included, and how they structure their fees—is not only important when choosing an agent, the right structure can help ensure your chosen agent is motivated to achieve the best possible result.

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