Suburb Profile Report for Melbourne VIC (3000)

Melbourne House: Median price $753,000, Annual capital growth N/A, Number of sales 36, Weekly median advertised rent $723

Melbourne Unit: Median price $439,002, Annual capital growth 4.33%, Number of sales 1402, Weekly median advertised rent $475

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

With the median price for a house in Melbourne being $753000 and the advertised rent reaching $722.5 the gross rental yield for property investors calculates out to be 4.99%

At number 1522th in the list of Australian suburbs ordered by increase in median house value over the last year, Melbourne, 3000 is in the BOTTOM 20% with a property value increase of -7.97% recorded in median house prices.

The five-year average increase in median property values for Melbourne,3000 has given property investors a potential capital gain of -4.56% across each of those five years.

Our latest figures would indicate that property sellers in Melbourne are currently offering property investors an average price cut of -5.83% below the asking price at the moment.

A $475 per week rent on the median house gives suburb investors a gross yield of circa 5.63%, without taking into account capital value appreciation, which has been averaging out at 4.33%.

Don Gallicchio Information supplied by:

Don Gallicchio
Galldon Real Estate

M 03 9670 3330
O 0418 148 580

W www.galldon.com.au
E don@galldon.com.au
At number 379th in the list of Australian suburbs ordered by increase in median house value over the last year, Melbourne, 3000 is in the top 30% with a property value increase of 6.87% recorded in median house prices.
Melbourne,3000 has offered an average of 6.87% return per annum in house price rises to property investors over the last three years.

LACK OF BUYER INTEREST may well be the reason that Melbourne is offering property investors an average of -7.72. This rate of discount on properties puts Suburb at number 101th in terms of most discounted suburbs in VIC.

In the last year 983 properties changed hands in Melbourne, which puts it as the 1st most active market in VIC when comparing the number of sales per suburb.Full summary
At number 379th in the list of Australian suburbs ordered by increase in median house value over the last year, Melbourne, 3000 is in the top 30% with a property value increase of 6.87% recorded in median house prices.
Melbourne,3000 has offered an average of 6.87% return per annum in house price rises to property investors over the last three years.
 
LACK OF BUYER INTEREST may well be the reason that Melbourne is offering property investors an average of -7.72. This rate of discount on properties puts Suburb at number 101th in terms of most discounted suburbs in VIC.
 
In the last year 983 properties changed hands in Melbourne, which puts it as the 1st most active market in VIC when comparing the number of sales per suburb.
 
Selling points:  Consistently a contender for world’s most liveable city.
 
Most sought-after properties:  Historic refurbished apartments, warehouse conversions, laneways
 
Top amenities: Has it all it’s a capital CITY
 
Best streets:  Laneways , spring St , Collins St.
Close
HOUSE UNIT
$753,000 $439,002
N/A -2.01%
N/A -7.97%
N/A 4.33%
$723 $475
36 1402
4.99% 5.63%
N/A 82.26

Source: CoreLogic

DSR Score for property investment : Above average (U), Good (H)
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Demographics
Total population 28370
Median household income ($/weekly) 1230
Median age of persons 28
Median housing loan repayment ($/monthly) 2000
Average household size 1.8
  • Census Count Percent(%)
    15-19 years 1852 6.5
    20-24 years 7121 25.1
    25-34 years 9822 34.6
    35-44 years 3048 10.7
    45-54 years 2066 7.3
    Others 4462 15.7
    Age Group
    Census Count Percent(%)
    Not Married 13908 62.1
    Registered Married 5168 23.1
    Defacto Relationship 3309 14.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 7953 31.9
    Croatia 3237 13.0
    Indonesia 1615 6.5
    Malta 2204 8.8
    Other 2115 8.5
    Others 7802 31.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 2961 12.4
    Christianity 8899 37.3
    Hinduism 1502 6.3
    Islam 1003 4.2
    No Religion 9001 37.8
    Others 467 2.0
    Religious Affiliation
  • Census Count Percent(%)
    Negative/Nil income 1789 14.5
    $1,000-$1,249 978 7.9
    $1,250-$1,499 994 8.1
    $1,500-$1,999 1540 12.5
    $2,500-$2,999 1462 11.9
    Others 5564 45.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 10448 43.5
    Not in the labour force 7789 32.5
    Employed, worked part-time 3642 15.2
    Unemployed, looking for work 1443 6.0
    Employed, away from work 679 2.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 2292 15.5
    Professionals 5947 40.3
    Community & personal service workers 1457 9.9
    Clerical & administrative workers 1879 12.7
    Sales 1149 7.8
    Others 2044 13.8
    Occupation
    Census Count Percent(%)
    Infants/Primary 252 2.8
    Secondary 444 5.0
    Technical or Further Educational Institution 1011 11.4
    University or other Tertiary Institutions 6541 73.5
    Other type of educational institution 556 6.3
    Others 91 1.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 23678 99.3
    Semi-detached, row or terrace house, townhouse 120 0.5
    Separate house 22 0.1
    House or flat attached to a shop, office 13 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 8346 64.3
    Being purchased 2481 19.1
    Fully owned 2097 16.1
    Other tenure type 61 0.5
    Tenure Type
Census 2011, ABS
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