Thinking about buying in Port Phillip? Now could not be a better time, with 4258 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $1,248,000 with prices in this suburb ranging from $269,000 to $8,067,000. Port Phillip is located fairly close to the coast at just 1Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Port Phillip Real Estate Market Outlook

Consistent high demand relative to supply is a key feature in Port Phillip driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. High average incomes in Port Phillip ensure a focus on quality with a commensurate high entry price under constant demand. Competition for available quality housing is intense with multiple offers likely to be made in excess of asking prices. The high percentage of professional people in Port Phillip classifies the area as "gentrified". This implies high demand for quality housing, generally of larger than average size. Price growth is ensured even where the state affordability index is negatively impacting other areas. Medium density in Port Phillip necessitates a mix of lifestyle options for housing, shops, open areas, and facilties. Where this is available, demand is high and growth ensured. High industry presence in the wider area is a double-edged sword. While local employment options are high, the presence of industrial buildings may negatively impact lifestyle perception. Demand from first home buyers and investors however ensures good price growth.

Properties for sale Port Phillip

	1A ALBION ST, BALACLAVA, VIC, 3183	4	2	1	$1,400,000 - $1,500,000
	UNIT 7, 84 WESTBURY ST, BALACLAVA, VIC, 3183	2	1	1	Under Contract
	UNIT G04, 356 CARLISLE ST, BALACLAVA, VIC, 3183	1	1	1	$430,000 - $460,000

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General Points of Interest

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