Suburb Profile Report for Melton West VIC (3337)

Melton West House: Median price $370,000, Annual capital growth 5.43%, Number of sales 378, Weekly median advertised rent $320

Melton West Unit: Median price $287,250, Annual capital growth 3.17%, Number of sales 18, Weekly median advertised rent $285

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

Source: CoreLogic

  • House Report
  • Unit Report

With a capital gain of 8.82% for the last 12 months, Melton West, 3337 has performed for property investments than its average annual 5.43% property growth over the last 5 years.

A 19.94% growth in median value for property investors in Melton West,3337 puts this suburb at number 304th in terms of best performing suburbs in VIC

Melton West, 3337 is offering VIC ‘s 460th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this VIC.

With the median price for a house in Melton West being $370000 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 4.50%

If you compare the increase in value of investment property in Melton West, 3337 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 10.48%.

When looking at the potential capital gains offered to property investors over the last 3 years, Melton West comes in at number 217th in VIC.

Property investors looking for a bargain in Melton West should be aiming for at least -3.84% off the asking price, which is the average vendor discount being achieved at the moment.

Situated 38.92km from the CBD, Melton West is one of Melton localities in the postcode 3337.

Metrics i HOUSE UNIT
$370,000 $287,250
2.78% 4.45%
8.82% 10.48%
5.43% 3.17%
$320 $285
378 18
4.50% 5.16%
42.64 61.52

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 14171
Median household income ($/weekly) 1296
Median age of persons 30
Median housing loan repayment ($/monthly) 1625
Average household size 2.9
  • Census Count Percent(%)
    5-14 years 2194 15.5
    25-34 years 2405 17.0
    35-44 years 2098 14.8
    45-54 years 1674 11.8
    55-64 years 1508 10.6
    Others 4293 30.3
    Age Group
    Census Count Percent(%)
    Registered Married 4780 48.2
    Not Married 4003 40.4
    Defacto Relationship 1131 11.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 10564 79.6
    Netherlands 177 1.3
    Papua New Guinea 331 2.5
    United Kingdom 589 4.4
    Other 581 4.4
    Others 1022 7.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 179 1.4
    Christianity 8829 69.3
    Hinduism 107 0.8
    Islam 234 1.8
    No Religion 3307 26.0
    Others 78 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $800-$999 435 10.5
    $1,000-$1,249 474 11.4
    $1,250-$1,499 433 10.4
    $1,500-$1,999 656 15.8
    $2,000-$2,499 498 12.0
    Others 1659 39.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 4461 44.2
    Not in the labour force 2959 29.3
    Employed, worked part-time 1772 17.6
    Employed, away from work 454 4.5
    Unemployed, looking for work 436 4.3
    Person Characteristics
  • Census Count Percent(%)
    Professionals 765 11.4
    Technicians & trades workers 1136 17.0
    Community & personal service workers 762 11.4
    Clerical & administrative workers 1123 16.8
    Machinery operators & drivers 754 11.3
    Others 2145 32.1
    Occupation
    Census Count Percent(%)
    Pre-school 276 8.1
    Infants/Primary 1330 39.1
    Secondary 1009 29.6
    Technical or Further Educational Institution 274 8.0
    University or other Tertiary Institutions 375 11.0
    Others 141 4.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 12998 96.7
    Semi-detached, row or terrace house, townhouse 314 2.3
    Flat, unit or apartment 117 0.9
    Caravan, cabin, houseboat 3 0.0
    House or flat attached to a shop, office 3 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 2540 56.2
    Rented 1023 22.6
    Fully owned 943 20.8
    Other tenure type 17 0.4
    Tenure Type
Census 2011, ABS
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