Antony Bucello
National Property Buyers (VIC)
Melbourne, VIC+9
Melbourne · Inner South
A suburb in the City of Port Phillip. Most homes are semi-detached, row or terrace houses or townhouses.
Last reviewed 25 October 2026
Market snapshot
Official figures
Read 6 October 2026
Median house price by year1
At the 2021 Census
Sources
Albert Park 3206 · Inner South. Medians describe sales, not the value of any one home.
Valuer-General Victoria recorded a median house price of $2,387,500 in Albert Park for 2025, 4.4% higher than in 2024 and 25.7% higher than in 2020. In January to March 2026, 21 houses sold at a median of $1,985,000.
A quarter of 21 sales moves with whichever homes happened to sell, so read it beside the yearly figure rather than as a turn in the market.
Units are a separate market. The median unit price was $888,500 in 2025, and 10 units sold in January to March 2026 at a median of $1,030,000.
Before you buy
The Port Phillip Planning Scheme's Heritage Overlay schedule lists the Albert Park Residential Precinct, the Bridport Street / Victoria Avenue Commercial Precinct, the Albert Park Lake Precinct and the St Vincent Place Precinct, and parts of Albert Park are in each. The schedule marks the St Vincent Place Precinct, the Hotel Victoria at 123 Beaconsfield Parade, Biltmore at 152 Bridport Street and Rochester Terrace at 33-51 St Vincent Place South as on the Victorian Heritage Register. Check the address against the Heritage Overlay before you plan works.
Parts of Albert Park are in the Special Building Overlay, and the Port Phillip schedules for it name a Melbourne Water main drain and a Port Phillip City Council local drain. Ask the council about the overlay at the address before you make an offer.
We found no train station in Albert Park. By our map check of the operator's timetable data, trams on routes 1, 12 and 96 stop in parts of the suburb, and route 96 has the light rail stops named Middle Park Station and Melbourne Sports and Aquatic Centre.
The Department of Education lists Albert Park Primary School at 210 Bridport Street, South Melbourne Park Primary School at 29 Albert Park Drive South and Albert Park College at 83 Danks Street, all with Albert Park addresses. In Victoria, a child who lives in a government school's zone must be offered a place there, and Find my School is the official source of zones. Check the zone for the address if you are counting on a place.
Homes Victoria's Rental Report for the September quarter 2025 gives a moving annual median weekly rent of $760 for a two-bedroom house and $698 for all properties, for new lettings in its Albert Park-Middle Park-West St Kilda group in the year to September 2025. Homes Victoria counted 578 new lettings in the group that year. The report names the group Albert Park-Middle Park-West St Kilda, so the figure is not Albert Park's alone.
At the 2021 Census, 62.0% of Albert Park homes were semi-detached, row or terrace houses or townhouses, 18.8% were separate houses and 18.6% were flats or apartments.
Agents on a Pro plan across Melbourne
Why a buyers agent
In Albert Park, most homes are semi-detached houses, terraces or townhouses, parts of the suburb are in heritage precincts, and parts are in the Special Building Overlay. A buyers agent checks the planning scheme for each home on your shortlist, prices it against the sales closest to it, and negotiates or bids at auction for you.
Parts of Albert Park are in Heritage Overlay precincts, and some places are on the Victorian Heritage Register. An agent checks the overlay for each address before you bid.
Parts of Albert Park are in the Special Building Overlay. An agent asks the council about it for each address on your shortlist.
At the 2021 Census, six in ten Albert Park homes were semi-detached, row or terrace houses or townhouses. An agent compares each home's condition, layout and heritage controls against your budget.
The State Revenue Office Victoria charges no duty on a first home with a dutiable value up to $600,000, and a reduced amount from $600,001 to $750,000. An agent with your conveyancer checks whether the home you choose qualifies before you sign.
Compare
| Metric | This suburb · OfficialAlbert Park | NearbyDocklands | Nearby · OfficialSouth Yarra |
|---|---|---|---|
| Median house | $2,387,500 | $1.15M - $1.55M | $1,980,000 |
| Median unit | $888,500 | $500,000 - $675,000 | $585,000 |
| Year-on-year growth | +4.4% | Not available | -14.8% |
| 5-year growth | +25.7% | Not available | -3.8% |
| Rental yield | Not available | 5.9% to 6.9% | Not available |
| Postcode | 3206 | 3008 | 3141 |
Columns marked official show 2025 Valuer-General medians and our calculations from them. The others are estimates compiled from third party online sources, dated on each suburb page.
The place
Albert Park had 6,044 residents at the 2021 Census, with a median age of 46. ABS boundary files place it in the City of Port Phillip.
At the 2021 Census, 36.9% of Albert Park homes were owned outright and 23.9% with a mortgage. The median weekly rent at that Census was $590 and the median monthly mortgage repayment was $3,500.
Frequently asked
Keep exploring
Searching more widely? Browse every Melbourne buyers agent across the city.
Official figures are cited in the figures block above. Editorial review: 25 October 2026.
Browse agencies across Australia to find the perfect team for your property journey.
Pro Profile
A profile you can verify, listed in up to 11 suburbs in our agent search, with every enquiry's name, email and phone.
See the Pro Profile
