Suburb Profile Report for Melton VIC (3337)

Melton House: Median price $282,501, Annual capital growth 4.91%, Number of sales 149, Weekly median advertised rent $280

Melton Unit: Median price $229,000, Annual capital growth 3.75%, Number of sales 33, Weekly median advertised rent $275

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
TOP 100 suburbs

Source: CoreLogic

  • House Report
  • Unit Report

If you compare the increase in value of investment property in Melton, 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 10.78%.

A 9.71% growth in median value for property investors in Melton,3337 puts this suburb at number 144th in terms of best performing suburbs in VIC

The most recent median price for Melton is $282501, with sellers offering an average of -4.07% off the asking price.

Melton, 3337’s gross rental yield is 5.15%

At number 590th in the list of Australian suburbs ordered by increase in median house value over the last year, Melton, 3337 is in the top 40% with a property value increase of 6.51% recorded in median house prices.

Taking the average capital gain, or increase in median house value, Melton,3337 has racked up an average of 6.51% over the period. This ranks it number 1264th in the whole country for real estate investors looking at median house price increases.

Melton, 3337 is offering VIC ‘s 105th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this VIC.

At number 1234 in a list of fastest selling suburbs, Melton is in the bottom 20% of suburbs in Australia with an average of days on market 109.58 for properties listed there.

Advertised rents are around the $275 mark per week – giving a return of 6.24% based on the median price in Suburb

Metrics i HOUSE UNIT
$282,501 $229,000
4.63% 1.44%
10.78% 6.51%
4.91% 3.75%
$280 $275
149 33
5.15% 6.24%
46.86 109.58

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
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Demographics
Total population 7592
Median household income ($/weekly) 878
Median age of persons 38
Median housing loan repayment ($/monthly) 1200
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 864 11.4
    25-34 years 1048 13.8
    35-44 years 969 12.8
    45-54 years 886 11.7
    55-64 years 1205 15.9
    Others 2621 34.5
    Age Group
    Census Count Percent(%)
    Not Married 2891 49.8
    Registered Married 2323 40.0
    Defacto Relationship 590 10.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 5518 76.7
    Netherlands 107 1.5
    Papua New Guinea 184 2.6
    United Kingdom 423 5.9
    Other 310 4.3
    Others 648 9.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 78 1.1
    Christianity 4831 70.2
    Hinduism 42 0.6
    Islam 134 1.9
    No Religion 1759 25.5
    Others 41 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 363 13.5
    $600-$799 360 13.4
    $800-$999 321 11.9
    $1,000-$1,249 310 11.5
    $1,500-$1,999 286 10.6
    Others 1054 39.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2513 42.6
    Employed, worked full-time 1959 33.2
    Employed, worked part-time 872 14.8
    Unemployed, looking for work 313 5.3
    Employed, away from work 240 4.1
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 506 16.5
    Community & personal service workers 353 11.5
    Clerical & administrative workers 491 16.0
    Machinery operators & drivers 426 13.9
    Labourers 362 11.8
    Others 932 30.4
    Occupation
    Census Count Percent(%)
    Pre-school 108 7.4
    Infants/Primary 544 37.4
    Secondary 419 28.8
    Technical or Further Educational Institution 147 10.1
    University or other Tertiary Institutions 161 11.1
    Others 74 5.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 6528 89.7
    Flat, unit or apartment 494 6.8
    Semi-detached, row or terrace house, townhouse 240 3.3
    House or flat attached to a shop, office 19 0.3
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 992 34.2
    Fully owned 955 33.0
    Rented 935 32.3
    Other tenure type 15 0.5
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals