Suburb Profile Report for Melba ACT (2615)

Melba House: Median price $595,000, Annual capital growth 5.11%, Number of sales 43, Weekly median advertised rent $483

Melba Unit: Median price $352,000, Annual capital growth 5.83%, Number of sales 14, Weekly median advertised rent $380

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report

ACT has seen average median house prices change by 5.75% which means that Melba, 2615 has done well for property investors by showing a capital gain of 17.59% over the last year

Melba,2615 has offered an average of 17.59% return per annum in house price rises to property investors over the last three years.

Vendor discounting in Melba is giving property investors an average Vendor Discount of around -4.63%. This puts suburb at number 19th in ACT when ranking the most discounted suburbs.

At number 1574 in a list of fastest selling suburbs, Melba is just in the top half of suburbs in Australia with an average of days on market 73.76 for properties listed there.

Renters in Suburb are facing rents around $5790 per annum or $482.5 every week.

Giving property investors a a stable capital gain of 8.31% for the last year, Melba, 2615 is the 481th highest performer in Australia in this respect.

Across a shorter period, Melba, 2615 has seen a median price increase of 10.34% over the last quarter.

At number 15th of ACT’s most discounted properties, Melba is in the bottom 40% of the state/territory when listing in order of most discounted to least.

A $380 per week rent on the median house gives suburb investors a gross yield of circa 5.61%, without taking into account capital value appreciation, which has been averaging out at 5.83%.

Metrics i HOUSE UNIT
$595,000 $352,000
3.93% 10.34%
17.59% 8.31%
5.11% 5.83%
$483 $380
43 14
4.22% 5.61%
73.76 119.63

Source: CoreLogic

DSR Score for property investment : Very good (H), Good (U)
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Demographics
Total population 3200
Median household income ($/weekly) 1858
Median age of persons 37
Median housing loan repayment ($/monthly) 1950
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 369 11.5
    25-34 years 424 13.3
    35-44 years 468 14.6
    45-54 years 411 12.8
    55-64 years 422 13.2
    Others 1105 34.5
    Age Group
    Census Count Percent(%)
    Registered Married 1250 53.0
    Not Married 879 37.3
    Defacto Relationship 228 9.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 2462 79.8
    Croatia 41 1.3
    Papua New Guinea 44 1.4
    United Kingdom 145 4.7
    Other 127 4.1
    Others 268 8.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 38 1.3
    Christianity 1895 63.7
    Hinduism 23 0.8
    Islam 43 1.4
    No Religion 949 31.9
    Others 25 0.8
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 150 14.6
    $2,000-$2,499 104 10.1
    $2,500-$2,999 117 11.4
    $3,000-$3,499 115 11.2
    $4,000 or more 91 8.9
    Others 450 43.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1084 43.9
    Not in the labour force 765 30.9
    Employed, worked part-time 461 18.6
    Employed, away from work 116 4.7
    Unemployed, looking for work 46 1.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 233 14.0
    Professionals 454 27.4
    Technicians & trades workers 171 10.3
    Community & personal service workers 185 11.2
    Clerical & administrative workers 333 20.1
    Others 283 17.1
    Occupation
    Census Count Percent(%)
    Pre-school 60 7.7
    Infants/Primary 246 31.6
    Secondary 196 25.2
    Technical or Further Educational Institution 86 11.1
    University or other Tertiary Institutions 162 20.8
    Others 28 3.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2659 88.9
    Semi-detached, row or terrace house, townhouse 303 10.1
    Flat, unit or apartment 29 1.0
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 482 42.5
    Fully owned 406 35.8
    Rented 240 21.2
    Other tenure type 6 0.5
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals