Suburb Profile Report for Melton VIC (3337)

Melton House: Median price $265,000, Annual capital growth 4.25%, Number of sales 151, Weekly median advertised rent $280

Melton Unit: Median price $228,250, Annual capital growth 3.57%, Number of sales 39, 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

Giving property investors a an average capital gain of 6.00% for the last year, Melton, 3337 is the 1735th highest performer in Australia in this respect.

Taking the average capital gain, or increase in median house value, Melton,3337 has racked up an average of 6.00% over the period. This ranks it number 2742th in the whole country for real estate investors looking at median house price increases.

At number 375th of VIC’s most discounted properties, Melton is in the middle of the state/territory when listing in order of most discounted to least.

Often selling an investment property can take time, and in Melton the average time real estate has been on the market is 54.52 days.

A $280 per week rent on the median house gives suburb investors a gross yield of circa 5.49%, without taking into account capital value appreciation, which has been averaging out at 4.25%.

At number 608th 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 6.16% recorded in median house prices.

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

LACK OF BUYER INTEREST may well be the reason that Melton is offering property investors an average of -5.22. This rate of discount on properties puts Suburb at number 113th in terms of most discounted suburbs in VIC

A $275 per week rent on the median house gives suburb investors a gross yield of circa 6.27%, without taking into account capital value appreciation, which has been averaging out at 3.57%.

HOUSE UNIT
$265,000 $228,250
3.92% 0.33%
6.00% 6.16%
4.25% 3.57%
$280 $275
151 39
5.49% 6.27%
54.52 85.58

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
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Recent sales & rentals