Who’s got top market share?
Albert Park has it all - leisurely jogs by Port Phillip Bay, proximity to the city, and wide-open lakeside parklands for picnics. It’s no wonder that property in the area is enjoying a steady growth that shows no sign of slowing down. Professional, mature singles and families can be seen out and about enjoying all that this popular spot has to offer. A sales office here could be a profitable choice.
Let’s look at the market share in the area. Marshall White - Port Phillip has the highest market share at 27%, followed by Greg Hocking Holdsworth at 25%. Cayzer Real Estate rounds out the top three with 19%.
According to CoreLogic data, the median house price is $2.1million, with the most popular property being a three-bedroom house. The average rental rate is currently $778 per week. Singles comprise 57% of the population, while the remaining 43% is families. There is a significant opportunity for a lucrative rent roll, with 44% of properties available for rent. Albert Park is an incredibly high demand market with online visits per property reaching 3332, compared to the VIC average of 893.
The perfect lifestyle right next to the city makes Albert Park a trending Melbourne suburb. Is it the right time to open a Ray White office here? If it’s of interest to you, we can help you build a competitive business. Talk to us today.
