Suburb Profile Report for Melba ACT (2615)

Melba House: Median price $590,000, Annual capital growth 5.21%, Number of sales 40, Weekly median advertised rent $470

Melba Unit: Median price $352,000, Annual capital growth 4.20%, Number of sales 13, Weekly median advertised rent $360

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

Source: CoreLogic

  • House Report
  • Unit Report

Investment property in Melba has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 16.37%

Comparing Melba,2615 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Our latest figures would indicate that property sellers in Melba are currently offering property investors an average price cut of -4.56% below the asking price at the moment.

Advertised rents are around the $470 mark per week – giving a return of 4.14% based on the median price in Suburb

Property value increases in Melba have tracked higher than the ACT average of -1.90% over the last 12 months.

The five-year average increase in median property values for Melba,2615 has given property investors a potential capital gain of -2.22% across each of those five years.

State is the 8th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.17% offered to property buyers. Sellers in Melba itself are offering an average vendor discount of -5.60% to real estate investors.

In the last year 13 properties changed hands in Melba, which puts it as the 61th most active market in ACT when comparing the number of sales per suburb.

HOUSE UNIT
$590,000 $352,000
3.06% 10.34%
16.37% 8.31%
5.21% 4.20%
$470 $360
40 13
4.14% 5.32%
64.14 128.45

Source: CoreLogic

DSR Score for property investment : 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