Alexandra vs Port Melbourne
Property investment comparison - Alexandra, VIC 3714 vs Port Melbourne, VIC 3207
Head-to-head across core investment metrics: Alexandra wins 4, Port Melbourne wins 1. The better choice depends on whether you're optimising for cash flow, growth, affordability, or liquidity, the table below highlights the winner on each metric.
| Metric | Alexandra | Port Melbourne |
|---|---|---|
| Median house price | $535K | - |
| Median unit price | - | $740K |
| Gross rental yield (houses) | 4.19% | 2.93% |
| Gross rental yield (units) | 4.60% | 4.95% |
| 1-year house growth | +7.9% | +0.0% |
| 3-year house growth | +7.9% | -8.8% |
| Vacancy rate | 0.9% | 1.1% |
| Population | 2,801 | 17,633 |
Alexandra vs Port Melbourne: what the numbers say
On cash flow, Alexandra leads: houses there return a gross rental yield of 4.19%, compared with 2.93% in Port Melbourne, a gap of 1.26 percentage points.
Over the past year house prices moved +7.9% in Alexandra and +0.0% in Port Melbourne, so recent momentum favours Alexandra, although both suburbs recorded growth.
Looking back three years, Alexandra houses are +7.9% and Port Melbourne houses -8.8%, so Alexandra has compounded faster than Port Melbourne over the longer window.
Rental vacancy is 0.9% in Alexandra and 1.1% in Port Melbourne, so landlords in Alexandra face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Port Melbourne is the bigger suburb, with a population of 17,633 against 2,801, roughly 6 times the size of Alexandra; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Alexandra for rental income, Alexandra for recent price momentum, Alexandra for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.
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Port Melbourne, VIC 3207
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