The Albert Park VIC median house price sits at approximately $2,350,000 as of mid-2026, reflecting one of Melbourne’s most consistently premium inner-city markets. This figure represents a year-on-year increase of roughly 4.5%, cementing Albert Park’s reputation as a suburb where demand reliably outpaces supply.

Albert Park is a tightly held, heritage-rich suburb located just 4 kilometres south of the Melbourne CBD. Framed by the famous Albert Park Lake, Port Phillip Bay foreshore, and a vibrant village shopping strip on Montague Street and Victoria Avenue, the suburb attracts buyers ranging from young professional couples to established families and seasoned investors. Whether you are buying in Albert Park VIC, selling in Albert Park VIC, or investing in Albert Park VIC, understanding the precise price landscape is the essential first step.

What Is the Albert Park VIC Median House Price Right Now?

According to CoreLogic data for the 12 months to June 2026, the median house price in Albert Park VIC is $2,350,000. The median unit price over the same period sits at $780,000, confirming the suburb’s dual appeal to both owner-occupiers seeking period terraces and investors targeting compact apartment stock.

Recent Quarterly Movement

• Quarter-on-quarter change (Q2 2026): +1.8%, up from +1.2% in Q1 2026.
• Year-on-year change: +4.5%, outperforming the broader Melbourne metropolitan average of +2.9% reported by CoreLogic for the same period.
• Median days on market: 22 days, indicating brisk competition among buyers.
• Vendor discount rate: -1.4%, meaning sellers are achieving prices very close to initial asking prices.

Recent Sold Comparables

To ground these figures in real transactions, SQM Research and CoreLogic’s recent sales data for Albert Park VIC includes results such as:

• A four-bedroom Victorian terrace on Dundas Place sold for $3,100,000 in May 2026.
• A three-bedroom Edwardian semi on Bridport Street achieved $2,480,000 in April 2026.
• A two-bedroom converted terrace on Charles Street sold for $1,720,000 in March 2026.

These results illustrate the wide price band within Albert Park VIC property, shaped heavily by lot size, renovation quality, and proximity to the lake foreshore.

What Do the Broader Numbers Say About Albert Park VIC Property?

Albert Park is not a suburb that experiences wild price swings. PropTrack’s suburb report for Albert Park (June 2026) shows the suburb has delivered a 10-year compound annual growth rate (CAGR) of approximately 5.8% for houses, a figure that outperforms many comparable inner-Melbourne localities. For context, suburbs further north such as Richmond have posted strong results but operate at lower median price points, making Albert Park a distinct prestige-tier market.

Supply and Vacancy

According to SQM Research’s June 2026 data, Albert Park’s residential vacancy rate is just 0.9%, well below Melbourne’s metropolitan average of 1.7%. This structural undersupply is a key driver of price resilience. The suburb’s strict heritage overlay limits new dwelling construction, meaning total housing stock grows very slowly. The result is persistent competition for available homes at auction.

Auction Clearance Rates

The Real Estate Institute of Victoria (REIV) reported an auction clearance rate of 74% in Albert Park for the March to June 2026 quarter, comfortably above the metropolitan Melbourne clearance rate of 65% over the same window. A clearance rate above 70% is widely interpreted as a strong seller’s market, and Albert Park has maintained this threshold for most of the past three years.

Rental Yields

For those investing in Albert Park VIC, gross rental yields on houses are modest at approximately 2.1%, reflecting the high asset values relative to weekly rents. Units deliver a more attractive gross yield of around 3.4%, according to CoreLogic’s June 2026 suburb report. Investors in this market typically prioritise capital growth over yield, and the suburb’s long-term CAGR supports that strategy.

What Are the Key Considerations When Buying or Selling in Albert Park VIC?

Understanding the median house prices in Albert Park VIC is necessary, but context matters equally. Here are the factors that most directly shape buyer and seller outcomes in this suburb.

Heritage and Planning Overlays

Much of Albert Park falls within a Heritage Overlay under the Port Phillip Planning Scheme. This protects the suburb’s distinctive Victorian and Edwardian streetscapes but also limits renovation scope and new builds. Buyers should obtain a planning report before submitting an offer, and sellers benefit from highlighting any council-approved works already completed.

School Zones and Lifestyle Amenity

Albert Park Primary School and proximity to South Melbourne Primary are significant drawcards. REIV buyer-motivation surveys consistently show that school zones rank among the top three purchase drivers for families in this price bracket. The suburb’s walkability score, access to Albert Park Lake for cycling and running, and the beach at Middle Park all add non-financial value that supports price premiums above statistical medians.

Stock Scarcity and Off-Market Activity

Because so few homes trade each year in Albert Park, off-market transactions are common. Buyers who rely solely on public listings miss a meaningful share of available stock. Registering on a platform that surfaces pre-market and off-market opportunities is a practical advantage in this suburb. You can sign up to the Collings off-market property portal to access listings before they reach the general public.

Comparable Suburbs to Benchmark Against

When assessing Albert Park VIC property value, experienced buyers and sellers also benchmark against neighbouring prestige suburbs. It is useful to compare with data from areas like Brunswick and Northcote to understand how inner-Melbourne price gradients are shifting across different lifestyle corridors, from the bay-side south to the leafy north.

Interest Rate Sensitivity

The Reserve Bank of Australia (RBA) held the cash rate at 3.60% through the first half of 2026, following a series of cuts from the peak of 4.35% reached in late 2023. According to RBA statements, the easing cycle has supported buyer confidence and borrowing capacity, contributing to the modest price recovery seen across Melbourne’s prestige tier, including Albert Park, over the past 12 months.

How Does Collings Real Estate Help Buyers, Sellers and Investors in Albert Park VIC?

Collings Real Estate has deep expertise across Melbourne’s inner suburbs. Our team combines data-driven appraisals with on-the-ground local knowledge to give clients in Albert Park VIC a genuine edge, whether they are entering the market for the first time or managing a portfolio of investment properties.

Free Property Appraisals

If you are considering selling in Albert Park VIC, the most important first step is obtaining an accurate, current appraisal. Median figures are useful benchmarks, but your individual property’s value depends on land size, configuration, heritage status, renovation quality, and the competitive landscape at the time of sale. Collings provides free, no-obligation property appraisals grounded in the most recent comparable sales data.

Buyer Representation and Off-Market Access

For buyers, navigating a market where 22-day median days on market is the norm requires speed and access. Our team maintains active relationships with Albert Park homeowners who are considering selling, giving registered buyers early visibility of properties before they are publicly advertised. Register at the Collings property portal to access this network.

Investment and Property Management

For investors, Albert Park’s low vacancy rate and strong long-term capital growth profile make it a compelling long-hold asset. Collings provides full property management services, from tenant selection to routine inspections and lease renewals, so investors can enjoy the suburb’s growth without the administrative burden.

To speak with our Albert Park specialists, contact Collings Real Estate at 03 9486 2000, email info@collings.com.au, or visit our office at 230 Waterdale Road, Ivanhoe VIC 3079. We are ready to assist with appraisals, buyer inquiries, and investment advice.

Frequently Asked Questions About Median House Prices in Albert Park VIC

What is the median house price in Albert Park VIC in 2026?

According to CoreLogic data for the 12 months to June 2026, the median house price in Albert Park VIC is $2,350,000, representing a year-on-year increase of approximately 4.5%.

Is Albert Park VIC a good suburb to invest in?

Albert Park has delivered a 10-year compound annual growth rate of approximately 5.8% for houses (PropTrack, June 2026). The suburb’s low vacancy rate of 0.9% (SQM Research, June 2026) and strict heritage overlay limiting new supply make it a strong long-term capital growth proposition, though gross yields on houses are modest at around 2.1%.

How many days does it take to sell a house in Albert Park VIC?

The median days on market for Albert Park VIC is currently 22 days, reflecting strong buyer demand relative to available stock. Auction clearance rates of 74% in Q2 2026 (REIV) confirm competitive conditions.

What is driving house prices in Albert Park VIC?

Key drivers include structural undersupply enforced by heritage overlays, proximity to Albert Park Lake and Port Phillip Bay, desirable school zones, and high lifestyle amenity. The RBA’s easing cash rate (3.60% as of mid-2026) has also supported buyer borrowing capacity.

How do I get a property appraisal in Albert Park VIC?

Collings Real Estate offers free, no-obligation property appraisals for Albert Park VIC homes. Contact us on 03 9486 2000 or email info@collings.com.au to request an appraisal from our specialist team.

Albert Park VIC remains one of Melbourne’s most sought-after and resilient property markets. With a median house price of $2,350,000, a vacancy rate below 1%, and auction clearance rates consistently above the metropolitan average, the suburb rewards both buyers who enter with patience and sellers who list with accurate, current market guidance. Whether you are ready to act now or are still researching your options, Collings Real Estate is here to help you make a confident, informed decision. Request a free property appraisal today by calling 03 9486 2000 or emailing info@collings.com.au.