albion

3020, Victoria

Real Estate & Property Information

Median
Price Rank
366

albion Suburb Profile & Review

Albion is a small but well established residential area between Ardeer and Sunshine in Melbourne's west. Californian bungalows and weatherboard houses from the 1940s and 1950s dominate its streetscapes. The suburb used to be much larger due to the presence of several now defunct factory sites. Today, however, Albion Station is the only remanent of this industrial boom.

Residents are in a very convenient location for public transport. From Albion Station, trains run to Southern Cross Station in twenty minutes on the Sydenham line. Six separate bus routes are also available to whisk passengers to shopping centres in Preston, Elsternwick and Chadstone.

Albion is home to two schools: Albion Primary School and St Theresa's Catholic Primary School. Sports clubs such as the Sunshine Baseball Club, Sunshine United Cricket Club and Albion Tennis Club welcome new members to their grounds in both Albion and Sunshine. Cyclists and joggers use the Kororoit Creek Trail, which travels along Kororoit Creek, through Albion and to Selwyn Park in Sunshine.

albion Demographic Data

$ 397,500 Median House Price

25 Minutes Average Commute

32 Median Age

4,337 Population

46.83 % Female

53.17 % Male

1079 NO OF FAMILIES

1.7 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in albion, Victoria.

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albion Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

albion Median House Prices

  • 2008 $ 261,000
  • 2009 $ 329,000
  • 2010 $ 349,000
  • 2011 $ 440,000
  • 2012 $ 397,500

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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albion 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in albion have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term albion property price predictions.

albion Market Property Types

  • 55 % Seperate House
  • 8 % Semi Detached
  • 37 % Flat or Unit
  • 0 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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albion Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

albion Income & Mortgage Stats

  • $ 851 Median Weekly Household Income
  • $ 1,517 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in albion

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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albion Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

albion Sold Property Prices

albion Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

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albion Schools

  • St Theresas Primary School16 Drummartin Streetalbion VIC 3020(03) 9311 9070Catholic Primary School
  • Albion Primary SchoolAdelaide Streetalbion VIC 3020(03) 9311 1325State Primary School

albion Childcare

  • Anderson Road CCC145 Anderson Roadalbion VIC 3020

albion Kindergarten and Preschools

  • Albion Kindergarten33 Derrimut Streetalbion VIC 3020

albion Sporting Centres and Clubs

  • Sunshinealbion VIC 3020Baseball Club
  • Sunshine City Clubalbion VIC 3020Bowling Club
  • Deer Park Social Bocce Clubalbion VIC 3020

albion Retirement Villages

  • Federation Residential Villagealbion VIC 3020

Find out How Much your House is Worth in albion

Request a free market Basic Report for albion to get a general idea of property prices in your area, or a more specific CMA Report for the property you own.

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