Suburb Profile Report for Melton West VIC (3337)

Melton West House: Median price $360,000, Annual capital growth 5.13%, Number of sales 418, Weekly median advertised rent $320

Melton West Unit: Median price $270,000, Annual capital growth 2.39%, Number of sales 19, Weekly median advertised rent $283

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

Source: CoreLogic

  • House Report
  • Unit Report

With a capital gain of 9.09% for the last 12 months, Melton West, 3337 has performed for property investments than its average annual 5.13% property growth over the last 5 years.

If we look at median property appreciation over just the last three months, Melton West has given property investors a paper return of 1.41%. This puts Suburb as 450 on a list of fastest fasting appreciating suburbs in VIC

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.53% offered to property buyers. Sellers in Melton West itself are offering an average vendor discount of -4.06% to real estate investors.

The VIC suburb of Melton West, 3337 is in the Melton local government area.

Melton West, 3337 ranked 165th in VIC when comparing growth in median property values or capital gain over the last 12 months. Melton West is one of 2098 in our list for VIC

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Melton West, 3337. Typically our figures indicate that -2.86% is being offered, which puts this VIC suburb at 1297th most discounted overall in Australia.

At number 702 in a list of fastest selling suburbs, Melton West is just in the top half of suburbs in Australia with an average of days on market 72.57 for properties listed there.

Advertised rents are around the $282.5 mark per week – giving a return of 5.44% based on the median price in Suburb

Metrics i HOUSE UNIT
$360,000 $270,000
1.41% N/A
9.09% 5.88%
5.13% 2.39%
$320 $283
418 19
4.62% 5.44%
54.37 72.57

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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