Albany, WESTERN-AUSTRALIA Real Estate & Suburb Profile

About Albany Real Estate

Albany ( AL-bən-ee; Noongar: Kinjarling) is a port city in the Great Southern region in the Australian state of Western Australia, 418 kilometres (260 mi) southeast of Perth, the state capital. The city centre is at the northern edge of Princess Royal Harbour, which is a part of King George Sound. The central business district is bounded by Mount Clarence to the east and Mount Melville to the west. The city is in the local government area of the City of Albany. While it is the oldest colonial, although not British, settlement in Western Australia – predating Perth and Fremantle by over two years – it was a semi-exclave of the Colony of New South Wales for over four years until it was made part of the Swan River Colony.
The settlement was founded on 26 December 1826 as a military outpost of New South Wales for the purpose of forestalling French ambitions in the region. To that end, on 21 January 1827, the commander of the outpost, Major Edmund Lockyer, formally took possession for the British Crown of the portion of New Holland not yet claimed by the Crown; that is, the portion west of the 129th meridian east, with the portion east already being claimed collectively by the Crown as New South Wales and Van Diemen's Land. During the last decade of the 19th century, the town served as a gateway to the Eastern Goldfields. For many years, it was the colony's only deep-water port, having a place of eminence on shipping services between Britain and its Australian colonies. The opening of the Fremantle Inner Harbour in 1897, however, saw its importance as a port decline, after which the town's industries turned primarily to agriculture, timber and later, whaling.
Contemporary Albany is the southern terminus for tourism in the region, and the state's south west, which is known for its natural environment and preservation of its heritage. The town has a role in the ANZAC legend, being the last port of call for troopships departing Australia in the First World War. On 1 November 2014, the Australian and New Zealand Prime Ministers opened the National Anzac Centre in Mount Clarence, Albany, to commemorate 100 years since the first ANZAC troops departed from King George Sound. Approximately 40,000 people attended the commemoration events held between 30 October and 2 November 2014.
An auxiliary submarine base for the US Navy's 7th Fleet was developed during the Second World War in the event the submarine base at Fremantle was lost. Also in the harbour was a Royal Australian Navy naval installation which provided for refuelling from four 5,100-tonne (5,000-long-ton) fuel tanks.

Property Investment Potential

When analyzing the local real estate landscape, Albany presents a dynamic opportunity. With median property prices sitting around $2,239,000 and delivering an average rental yield of 1.5%, the area caters nicely to both owner-occupiers and savvy investors. Properties typically spend an average of 36 days on the market, underscoring the consistent demand in this part of Western Australia. For accurate financial planning, check out our investment calculators to estimate your potential returns.