Suburb Profile Report for Melton West VIC (3337)

Melton West House: Median price $360,000, Annual capital growth 5.16%, Number of sales 431, Weekly median advertised rent $320

Melton West Unit: Median price $275,000, Annual capital growth 2.55%, Number of sales 21, Weekly median advertised rent $280

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

Source: CoreLogic

  • House Report
  • Unit Report

Giving property investors a a stable capital gain of 10.77% for the last year, Melton West, 3337 is the 1278th highest performer in Australia in this respect.

Comparing Melton West,3337 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

The most recent median price for Melton West is $360000, with sellers offering an average of -4.13% off the asking price.

On average over the past year, suburb has had 35.92 sales per month, which equates to 431 per year.

Property investors should expect to get $320 weekly from the median priced house in this suburb.

Over the last year, property investments in Melton West, 3337 have given investors a capital gain of 7.84%. This compares favourably with the 4.83% for VIC as a whole.

If we look at median property appreciation over just the last three months, Melton West has given property investors a paper return of 1.85%. This puts Suburb as 157 on a list of fastest fasting appreciating suburbs in VIC

Sellers are offering property buyers an average discount of -3.06% to buyers in Melton West at the moment, which is less than average for the rest of VIC.

At number 791 in a list of fastest selling suburbs, Melton West is just in the bottom half of suburbs in Australia with an average of days on market 79.5 for properties listed there.

A $280 per week rent on the median house gives suburb investors a gross yield of circa 5.29%, without taking into account capital value appreciation, which has been averaging out at 2.55%.

Metrics i HOUSE UNIT
$360,000 $275,000
1.69% 1.85%
10.77% 7.84%
5.16% 2.55%
$320 $280
431 21
4.62% 5.29%
55.17 79.5

Source: CoreLogic

DSR Score for property investment : Good (U), Good (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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