Suburb Profile Report for Melton West VIC (3337)

Melton West House: Median price $346,250, Annual capital growth 4.75%, Number of sales 400, Weekly median advertised rent $305

Melton West Unit: Median price $270,000, Annual capital growth 2.56%, Number of sales 24, Weekly median advertised rent $280

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

Source: CoreLogic

  • House Report
  • Unit Report

Melton West has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 8.20% to date .

Melton West,3337 was ranked 2005 in Australia by increase in median property value over the quarter.

Melton West3337 is located in VIC which offers an average discount of -6.03% to property investors. Melton West itself is showing figures that indicate -5.32% is the average achievable by property buyers investing in the suburb.

In the last year 400 properties changed hands in Melton West, which puts it as the 27th most active market in VIC when comparing the number of sales per suburb.

Renters in Suburb are facing rents around $3660 per annum or $305 every week.

Melton West is in the TOP 20% in VIC when comparing median price capital growth over the last year. Melton West gave property investors a very good capital gain figure when compared to the rest of the state, with 10.20%.

Over the longer term, Melton West has seen property prices show investors a -0.18% return over the last 3 years. This is an improvement over the last 12 months

LACK OF BUYER INTEREST may well be the reason that Melton West is offering property investors an average of -5.12. This rate of discount on properties puts Suburb at number 291th in terms of most discounted suburbs in VIC

On average over the past year, suburb has had 2.00 sales per month, which equates to 24 per year.

Property investors should expect to get $280 weekly from the median priced house in this suburb.

HOUSE UNIT
$346,250 $270,000
1.24% 2.08%
8.20% 10.20%
4.75% 2.56%
$305 $280
400 24
4.58% 5.39%
66.08 96.85

Source: CoreLogic

DSR Score for property investment : Good (U), Above average (H)
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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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