Regional WA · Albany
Spencer Park is a convenient and established suburb just two kilometres from Albany's CBD. Known for its community feel, it attracts families and retirees with its mix of housing, proximity to the Albany Health Campus, and local amenities. The suburb offers a balanced lifestyle with green spaces like Mokare Park and easy access to the broader attractions of the Great Southern region.
Market snapshot
Price register · May 2026
Median house
$600,000 - $800,000
Mid-band $700Kspread 29%
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Create Your Free ProfileLast reviewed 14 May 2026
Median unit
$375,000 - $500,000
Mid-band $438Kspread 29%
Days on market
~6-14 days
Median listing-to-sold window. Shorter = tighter buyer field.
Auction clearance
Private-treaty market
Share of auctions sold. Brisbane skews private-treaty.
Rental yield
4.1% to 5.1%
Gross yield on house stock. Premium suburbs compress.
5-year house-price growth
+81% to +101%
cumulative since 2021Who buys here
First home buyers · Young families · Healthcare professionals
5-year trend
Modelled trajectory anchored on aggregated 5-year median figures. Indicative; not month-by-month observed data.
Market analysis
The Spencer Park property market has experienced a period of extraordinary growth, positioning it as a standout performer in the Albany region. Over the past twelve months, the median house price has surged by a remarkable 34.9%, reaching approximately $705,500. This aggressive upward trajectory is not a short-term blip, with five-year growth figures standing at an impressive 90.7%, indicating sustained and powerful market momentum. The unit market, while smaller, has also performed strongly, with a median price of $435,000 and annual growth of 25.2%.
Driving this activity is a clear imbalance between supply and demand. Properties in Spencer Park are selling exceptionally quickly, with an average of just 10 days on market, a figure that points to intense buyer competition. The rental market is similarly tight, with a vacancy rate of just 0.54% and a healthy rental yield for houses around 4.6%. This makes the suburb highly attractive to investors who can benefit from both strong rental returns and the prospect of significant capital appreciation. The median weekly rent for houses sits around $600.
The suburb's appeal is multifaceted. Its strategic location, just two kilometres from Albany's CBD and adjacent to the Albany Health Campus, makes it a hub for healthcare professionals and those seeking convenient city access. This inherent demand is coupled with limited new housing supply, as evidenced by a low building approvals ratio, which further supports price growth by preventing oversupply. While the rapid price increases have raised questions about affordability, the market continues to be fueled by a mix of local upgraders, first-home buyers attracted by the relatively lower entry point compared to capital cities, and investors drawn by the compelling yields and growth story. The suburb's demographic mix, including a significant number of established households and retirees, provides a stable foundation for the community and the property market.
With house prices surging over 34% in a year and properties lasting just 10 days on market, Spencer Park is one of Regional WA's most dynamic investment hotspots.
Why a buyers agent
In a market as fast-moving as Spencer Park's, where properties sell in an average of 10 days, buyers without expert representation are at a significant disadvantage. Off-market opportunities and pre-market listings are common, and these are channels that only a well-connected local buyer's agent can access. An agent understands the subtle value differences between a home in the Breaksea Estate versus one in the Woodrise Estate, and can identify which properties are priced for a quick sale versus those with inflated expectations. They can navigate the intense competition, crafting offers that stand out for the right reasons, not just the price. For investors, an agent's insight into the nuances of the rental market - from yields on three-bedroom homes versus four-bedroom homes to the specific demands of tenants from the nearby hospital - is invaluable for maximizing returns and securing a quality asset in this rapidly appreciating suburb.
With year-on-year house price growth exceeding 34%, Spencer Park is one of the top-performing markets in regional WA, offering significant potential for wealth creation.
A very low vacancy rate (under 1%) and rental yields around 4.6% provide investors with strong, consistent income and minimal void periods.
Proximity to the Albany CBD and the Albany Health Campus makes it a highly convenient and consistently sought-after location for both renters and owner-occupiers.
The suburb is equipped with its own primary school, a private college, parks, and local shops, making it an ideal and self-contained community for families.
The low days on market (around 10) indicates a high-demand, liquid market where well-priced properties are snapped up quickly, providing confidence for buyers and sellers.
Compare
| Metric | This suburbSpencer Park | NearbyAlbany | NearbyYakamia |
|---|---|---|---|
| Median house | $600,000 - $800,000 | $900,000 - $1.20M | $625,000 - $850,000 |
| Median unit | $375,000 - $500,000 | $700,000 - $950,000 | $450,000 - $625,000 |
| Auction clearance | — | — | — |
| Days on market | ~6-14 days | ~34-78 days | ~5-13 days |
| Year-on-year growth | +30% to +40% | +21% to +31% | +13% to +23% |
| 5-year growth | +81% to +101% | +50% to +70% | +75% to +95% |
| Rental yield | 4.1% to 5.1% | 3.0% to 4.0% | 4.0% to 5.0% |
| Postcode | 6330 | 6330 | 6330 |
Snapshot date varies by suburb; see individual suburb pages for figures.
The place
Spencer Park is a well-established suburb located just 2 kilometres north-east of the Albany city centre, offering residents a blend of convenience and community. The suburb was gazetted in 1954 and named after Sir Richard Spencer, Albany's first Government Resident. Its character is defined by a mix of traditional and modern homes on generous blocks, with leafy streets and a family-friendly atmosphere.
Education is well-catered for, with several schools located directly within the suburb, including Spencer Park Primary School, Spencer Park Education Support Centre, and the private St Joseph's College. This makes it a popular choice for families.
For shopping and daily needs, the Spencer Park Shopping Centre provides local convenience with a supermarket and specialty stores. Public transport is accessible, with TransAlbany bus routes connecting the suburb to the Albany CBD and surrounding areas. The suburb's proximity to major arterial roads like North Road and Ulster Road ensures easy car travel.
Recreational opportunities are abundant, with five parks covering over 4% of the suburb's area, including the popular Mokare Park. A significant local amenity is the Albany Health Campus, a major regional hospital located on the suburb's edge, making Spencer Park a prime location for healthcare workers. This combination of essential services, educational facilities, and community infrastructure underpins its appeal as a practical and pleasant place to live.
Frequently asked
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The 5-year trajectory is a modelled curve anchored on the documented cumulative growth rate. Editorial review: 14 May 2026. Updated quarterly.
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