Melbourne inner south ยท VIC 3207

Buyers agent in Port Melbourne

Beach, tram, city in fifteen minutes, and 1.41% a year for a decade.

Figures below are August 2026, suburb level, all bedroom counts. Full Port Phillip council report.

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The Port Melbourne numbers

Houses

$1,750,418

Typical price

$983

Weekly rent

2.92%

Gross yield

+1.4%

Growth a year, 10yr

+2.2%

Growth, last 12mth

197

Sales a year

Units

$882,556

Typical price

$799

Weekly rent

4.71%

Gross yield

-0.4%

Growth a year, 10yr

-3.7%

Growth, last 12mth

381

Sales a year

Vacancy rate 1.41% across roughly 12,575 dwellings. HtAG Analytics, suburb level, all bedroom counts. Typical price is a modelled estimate, not a median of recent sales.

The honest read

What I'd tell you over a coffee

The typical Port Melbourne house has grown 1.41% a year over ten years. Below inflation, on a $1,750,418 asset.

Units are worse at minus 0.43% a year, and there are twice as many of them trading. 381 unit sales a year against 197 house sales.

The number that stopped me here is the rent. Port Melbourne house rent has grown 1.69% a year over the decade. That is the weakest rent growth of any suburb on this list, and rent is usually the reliable half.

Both sides flat at once is unusual. It normally means supply has kept pace with demand, and here it has. The old industrial land has been turning into apartments for twenty years and it has not stopped.

Vacancy is 1.41%, which is genuinely tight, and it is the strongest thing on this page. People want to live here. They are just not paying much more each year to do it.

Who Port Melbourne suits

Someone who wants to live within a tram ride of the city and a walk of the beach. That lifestyle is real and it is worth money to plenty of people. It has not been worth capital growth.

What I'd watch

The apartment stock specifically. Minus 0.43% a year over ten years with 381 sales a year turning over. If you are looking at a Port Melbourne apartment, get the building right, because the suburb average will not carry a bad one.

How I work

  • Flat $20,000 fee, whatever you buy and wherever it is
  • No commissions from agents, developers or builders
  • I'll tell you when a suburb doesn't stack up, including this one
How the process runs

Fair questions

Buying in Port Melbourne, answered

Is Port Melbourne a good investment?

Not on this decade's numbers. 1.41% a year on houses, minus 0.43% on units, and the weakest rent growth on this list at 1.69% a year. I would rather put a client somewhere the rent is at least moving.

What does a house cost in Port Melbourne?

About $1,750,418 as at August 2026, on roughly 197 sales a year. Units are $882,556 on about 381 sales.

The vacancy rate looks tight. Does that not help?

It tells you demand is real, and 1.41% is tight. But tight vacancy has been true here for years and rent still only grew 1.69% a year. Tight vacancy plus flat rent usually means new supply arrives fast enough to cap it.

Other Melbourne suburbs

Same treatment, same data, different answer in every one of them.

Thinking seriously about Port Melbourne? Read the full Port Phillip council report before you look at a single listing.

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