AFFORDABLE ALTERNATE TO ALBERT PARK
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Port Melbourne offers an affordable alternate to Albert Park. That is not a bad rating given Albert Park is one of Melbourne’s most expensive suburbs on a $ per sqm basis.
The primary difference is Port Melbourne has far less consistent housing stock. It is a classic example of gentrification – although in this instance perhaps a significant amount of its potential charm was lost with factories and warehouses giving way to medium and high-density buildings with little architectural merit and often poor build quality.
Still lots of single and double fronted Victorian and Edwardian dwellings which are always sought by prospective buyers.
The “Legoland” feel of Beacon Cove provokes mixed responses, as does Garden City – a planned community of 1920/30s English bank-styled houses. There is significant public housing within the suburb.
With a relatively high volume of new multi-unit development being undertaken, it is wise to be very aware of the risk this might bring when you buy here.
Only 3 km from the CBD, it is a circa 10-minute light rail trip into the city.
Bay Street is the retail and hospitality hub. On warm summer evenings, it is alive with outdoor diners and has a Coles supermarket. The street has a lot of amenities but perhaps does not rate as high as it could in terms of “charm” factor.
South Melbourne market is walkable from Port Melbourne, as is Albert Park village with its cafes, restaurants and retail offerings.
The suburb offers easy beach access and with it, opportunities for walkers (often with their dogs), runners, cyclists, skateboarders, paddle boarders, kite boarders and those who just enjoy lying on the beach.
My favoured localities are between Station and Bay Streets and the streets in the southern section of the area between Pickles and Bay Streets.
Traditionally popular with young professionals and young families, it is increasingly popular with downsizers – particularly those with regional properties looking for a second property close to CBD but not within it.
As a Melbourne Buyers Agent, I would recommend buying a property in Port Melbourne for those wanting an inner bayside lifestyle with very convenient CBD access – at a relatively affordable price point.
Last update: 24 Feb 2023